Orange County NC Website
DocuSign Envelope ID:66F168C2-3C54-4274-9428-4F16B3F1802A <br /> ■ Exhibit A: FORM: LETTER OF STIPULATION <br /> Letter of Stipulation <br /> To: COMMUNITY HOME TRUST ("the CHT") <br /> Date: <br /> This letter is given to CHT to become an exhibit to a Lease between the CHT and me. I will be <br /> leasing a parcel of land and the home located on that parcel of land from CHT for the term of the <br /> lease, which will give me an"ownership interest" in the property. I will therefore become what <br /> is described here as a"CHT homeowner." <br /> My legal counsel, , has explained to me the terms and <br /> conditions of the Lease and other legal documents that are part of this transaction. I understand <br /> the way these terms and conditions will affect my rights as a CHT homeowner, now and in the <br /> future. <br /> In particular I understand and agree with the following points. <br /> One of the goals of the CHT is to keep CHT homes affordable for lower-income households <br /> from one CHT homeowner to the next. I support this goal as a CHT homeowner and as a <br /> member of the CHT. <br /> The terms and conditions of my Lease will keep my home affordable for future "Qualified <br /> Buyers" (as defined in the lease). If and when I want to sell my home, the lease requires that I <br /> sell it either to the CHT or to another Qualified Buyer. The terms and conditions of the lease <br /> also limit the price for which I can sell the home, in order to keep it affordable for the Qualified <br /> Buyers. <br /> It is also a goal of the CHT to promote resident ownership of CHT homes. For this reason, my <br /> Lease requires that if I and my family move out of our home permanently, we must sell it. We <br /> cannot continue to own it as absentee owners. <br /> I understand that I can leave my home to my child or children or other members of my household <br /> and that, after my death, they can own the home for as long as they want to live in it and abide by <br /> the terms of the Lease, or they can sell it on the terms permitted by the Lease. <br /> As a CHT homeowner and a member of the CHT, it is my desire to see the terms of the Lease <br /> and related documents honored. I consider these terms fair to me and others. <br /> Sincerely, <br />