08-H Paris Living Cooperative - Laserfiche WebLink

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follows: 1. As Lots become available to the CITY through the CITY's contract with the taxing entities, those Lots sha11 be placed in a pool. 2. Periodically, CITY sha11 notify PARIS LIVING in writing as to the location of the Lots. Within sixty (60) days following the receipt of said notification, PARIS LIVING shall in turn notify the CITY in writing as to the Lot or Lots it desires to utilize in its program of construction of new single-family residential housing. Simultaneous with providing notice to the CITY, PARIS LIVING shall likewise provide similar notice to PARIS HABITAT FOR HUMANITY, another participant in said program pursuant to a separate agreement with CITY. 3. By providing said notification to the CITY, PARIS LIVING covenants and agrees to begin active construction of new single-family residential structures on the Lot or Lots so designated within twelve (12) months of their designation to CITY; otherwise, those Lots on which construction has not been initiated sha11 return to the pool of Lots maintained by the CITY. PARIS LIVING may voluntarily return any Lot previously designated to the CITY's pool of Lots by so notifying the CITY in writing of its request to do so. 4. Prior to initiating any construction of a single-family residential structure on a Lot, PARIS LIVING shall be responsible for obtaining detailed title information from a reputable title company regarding the title status of the designated Lots, and sha11 at least fourteen (14) days in advance of the anticipated date to begin construction on said Lot, provide such information to the CITY. Based on said title information, the CITY sha11 assess the quality of title it may approve for said Lot or Lots, and sha11 as trustee on behalf of the Taxing Entities convey to PARIS LIVING by title deed, up to a special warranty deed, the interest of the Taxing Entities in the property. IV. For the period of time during which a Lot or Lots are designated for use by PARIS LIVING pursuant to this agreement, PARIS LIVING covenants and agrees that it sha11 be solely responsible for the maintenance of said Lot, including performing any required mowing, cleaning, or other maintenance activities in conformance with a11 applicable City Ordinances. V. All construction of new homes pursuant to this Agreement by PARIS LIVING shall comply with a11 applicable City Codes and Ordinances, including but not limited to, the City Building Code, Plumbing Code, Electrical Code, Fire Code, Historical Preservation Ordinance, and Zoning Ordinance. VL PARIS LIVING covenants and agrees that the Lots provided by the CITY pursuant to this Agreement shall be used and utilized exclusively in a program to construct single-family residential houses for purchase by individual low and moderate income property owners