Examples of Restricted Lease in a sentence
For information regarding the Restricted Residential Ground Leases (" Restricted Lease"), please refer to the Restricted Residential Ground Lease document available from Faculty Staff Housing or the Faculty Staff Housing website at fsh.stanford.edu.
The amount that Stanford will pay will be the lesser of (1) a value capped by an annual rate of appreciation, which is set at the time of purchase or (2) a value that reflects current market conditions of residential homes in the area and adjusted to reflect the restrictions of the Restricted Lease.
You should read the text of the Restricted Lease carefully before considering purchasing a leasehold interest in a home that will have a Restricted Lease.
The Restricted Lease may not be extended or renewed, so future financing options will be limited.
If an active Eligible Person dies while married and living with his or her spouse or living with his or her Domestic Partner who is acknowledged in the Restricted Lease as a Surviving Partner, then the Surviving Partner is permitted to continue to reside at the property as his or her principal place of residence until the earlier of: (a) the termination date of the Restricted Lease or (b) the tenth (10th) anniversary of the Eligible Person's death.