2018-367 Housing - Community Home Trust Grant Agreement

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DocuSign Envelope ID: 5C622784- 3DD9- 4F2B- 8D53- D3D3E1 D35BD4 111111111111111][1 J1111111111 11111111111111111 RB6513 119 29/58 Fee may be increased yearly to take into account inflation. The maximum increase that may be imposed in any single year is 5 %. 5.3 REDUCTION, DELAY OR WAIVER OF GROUND LEASE FEE: Lessor may reduce, delay, or waive entirely the Ground Lease Fee from time to time for the purpose of ensuring affordable monthly housing costs for the Lessee. Any reduction, delay, or waiver must be in writing and signed by Lessor. 5.4 ADJUSTMENT OF GROUND LEASE FEE: If the provisions of Article 10 or Article 11 regarding transfers of the Lessee's interest in the Leased Premises or Section 4.4 regarding occupancy are suspended or invalidated for any period of time, then during that time the Ground Lease Fee will be increased to the fair rental value of the Leased Premises as determined by independent appraisal for use not restricted by the provisions of the suspended portions of the Lease. The Ground Lease Fee will be recalculated yearly to take into account inflation and other factors as Lessor may reasonably choose. The maximum increase that may be imposed in any single year is 5 %. ARTICLE 6: Taxes and Assessments 6.1 TAXES AND ASSESSMENTS: Lessee will be responsible for payment of all taxes, utility charges, homeowner's association assessments, and governmental assessments that relate to the Leased Premises even if the bills are issued in the name of Lessor. LESSEE AGREES TO have all homeowner's association assessments and /or dues paid by automatic draft, if available at no additional cost to the homeowner. 6.2 LESSEE'S RIGHT TO CONTEST: Lessee may contest the amount or validity of any taxes related to the Leased Premises. Lessor will, upon written request by Lessee, join in the proceedings if Lessor determines it is necessary for Lessee to raise a valid objection to the tax in question. Lessee will bear all costs of the tax contest proceeding. 6.3 PAYMENTS IN EVENT OF DELINQUENCY: If Lessee fails to pay the taxes or other charges specified in section 6.1 above when due, Lessor may but is not obligated to pay taxes or charges and increase the Ground Lease Fee by the amount of the taxes or charges paid. 6.4 PROOF OF COMPLIANCE: If requested by the other party, the party paying any tax, assessment or charge required or permitted under this lease will provide the other with copies of receipts documenting payment. ARTICLE 7: Ownership Rights 7.1 EXCLUSIVE RIGHTS TO LEASED PREMISES: Lessee will have the "Ownership Interest" in the Leased Premises, defined as the exclusive right during the term of this Lease to occupy and possess the land, buildings, structures, and other improvements, and fixtures attached to any improvements located on the Leased Premises, at the time of the execution of this Lease or constructed by Lessee during the term of this lease. Lessee will not sever or remove the Improvements from the Leased Premises.