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DocuSign Envelope ID:66F168C2-3C54-4274-9428-4F16B3F1802A <br /> which a party to this lease seeks damages for a taking will be at the expense of the party <br /> asserting the claim or defense. The parties agree to be named as a party to these proceedings if <br /> necessary for the other to assert a claim or defense so long as the party asserting the claim or <br /> defense agrees to reimburse the other for any costs it might incur as a first charge against any <br /> award. <br /> 9.6 RELOCATION OF LESSEE: If this Lease is terminated as the result of damage, <br /> casualty or taking, Lessor will take reasonable steps to grant Lessee a leasehold interest in other <br /> tracts it might own, if any, and Lessee agrees to contribute any proceeds or award received by <br /> Lessee to purchase or develop the other property and enter a Lease substantially similar to this <br /> one. In no event will Lessor be required to terminate the tenancy of any other lessee or withhold <br /> any property from development or rental in order to accommodate lessee and Lessor's failure to <br /> supply similar leasehold premises or any premises whatsoever will not give rise to any cause of <br /> action by Lessee against Lessor for damages, specific performance or other remedy. <br /> ARTICLE 10: Transfer, Sale, or Disposition of Leasehold Interest <br /> 10.1 INTENT: Lessee acknowledges that the terms of this Lease, and in particular of this <br /> Article 10, are intended to preserve the affordability of the Leasehold for lower and moderate <br /> income households. <br /> 10.2 TRANSFERS TO QUALIFIED BUYERS: While living, Lessee may transfer <br /> his/her interest in the Leased Premises only to <br /> a. Lessor or <br /> b. a Qualified Buyer as defined below or <br /> c. a Permitted Mortgage Holder in lieu of foreclosure. <br /> All such transfers will be subject to Lessor's review and purchase option rights set forth <br /> in this Article 10. Any attempted transfer not authorized under this Article 10 will be null and <br /> void. <br /> "Qualified Buyer"will mean a person or group of persons who meet the resident <br /> selection requirements of CHT described in the attached Exhibit H: CHT RESIDENT <br /> SELECTION REQUIREMENTS and/or those of any governmental entity providing funding for <br /> CHT, and whose household income does not exceed percent ( %) of the <br /> median household income for the Standard Metropolitan Statistical Area that encompasses <br /> Orange County,North Carolina, as calculated and adjusted for household size from time to time <br /> by the U.S. Department of Housing and Urban Development (HUD) or any successor. <br /> 10.3 TRANSFER TO LESSEE'S HEIRS/DEVISEES: So long as the recipient is willing <br /> to assume the Lessee's obligations under this lease and sign a Letter of Stipulation and a Letter <br /> of Acknowledgment of legal counsel (similar to those described in Article 1 of this Lease), <br /> Lessee may leave his or her interest in the Leasehold Estate by will or allow it to pass by <br /> intestate succession to the following: <br /> a. The spouse of the Lessee; or <br /> b. The child or children of the Lessee; or <br />