NOTICE: THIS IS ONLY A SAMPLE. DO NOT USE THIS DOCUMENT WITHOUT FIRST CONSULTING WITH LEGAL COUNSEL.

Transcription

1 NOTICE: THIS IS ONLY A SAMPLE. DO NOT USE THIS DOCUMENT WITHOUT FIRST CONSULTING WITH LEGAL COUNSEL. THIS DOCUMENT IS A SAMPLE FOR REFERENCE PURPOSES ONLY. PLEASE CONSULT WITH LEGAL COUNSEL BEFORE IMPLEMENTING ANY POLICIES, PROCEDURES, OR OTHER LEGALLY-BINDING DOCUMENTS AT YOUR AFFILIATE.

2 STATE OF GEORGIA COUNTY OF CONDITIONAL SALES AGREEMENT 1. CONDITIONAL SALE. «HomeownerName», the undersigned purchaser (the "Purchaser") agrees to buy, and AFFILIATE NAME the undersigned seller ("Seller") agrees to, sell subject to the terms and conditions contained in this Agreement, that certain property located at «Address» as more particularly described in Exhibit "A" attached hereto, together with all fixtures, landscaping and improvements thereon (all hereinafter collectively, the "Property"). In anticipation of Purchaser completing in a satisfactory manner all Conditions to Closing, Seller has permitted Purchaser to take occupancy of the Property prior to the Closing, which pre-closing occupancy shall be governed by the terms of the Occupancy Agreement between Seller and Purchaser (the Occupancy Agreement ) to be executed on or before the date Purchaser takes occupancy, which Occupancy Agreement will be in the form attached hereto as Exhibit B. 2. PURCHASE PRICE. The Purchase Price of the Property shall be the total costs incurred by Seller (i) through the Closing Date in acquiring the land described in Exhibit A and constructing, maintaining and repairing the improvements, fixtures and landscaping located thereon plus (ii) all taxes and insurance premiums paid by the Seller on the Property through the date of this Agreement. The Purchase Price, as so determined, shall be paid as follows: a. $00.00 of each occupancy fee payment made by Purchaser to Seller pursuant to Paragraph 4 of the Occupancy Agreement shall be applied to the Purchase Price. The balance of the monthly payments made by Purchaser to Seller under Paragraph 4 of the Occupancy Agreement shall be applied as follows: (i) Seller shall use such amount to pay any taxes, insurance premiums, termite control and related expenses on the Property which become due between the date of this Agreement and the Closing Date; and (ii) any remaining funds shall be deposited by Seller into the Escrow Account, or applied by Seller to the Purchase Price, as Seller may elect. b. The balance of the Purchase Price shall be evidenced by a promissory note from Purchaser to Seller, which note shall be repaid in 240 equal monthly installments of principal, with no interest thereon and will be secured by a deed to secure debt on the Property. The deed to secure debt shall require Purchaser to make monthly payments into an escrow account for payment of taxes and insurance with respect to the Property. The note and deed to secure debt shall be prepared by Seller. 3. CONDITIONS TO CLOSING. As a condition to Seller s obligation to close the sale of the Property to Purchaser, Purchaser must prior to the Closing Date satisfactorily complete all requirements of the Seller s Habitat for Humanity Homeownership program as evidenced by the Letter of Intent and abide by all rules and regulations as provided in Partner Family Manual, which is incorporated herein by reference, including, but not limited to, completion of all required sweat equity hours, the attendance of all education classes, making timely payments, and completion of all necessary documentation, including, without limitation, those items listed on Exhibit C attached hereto. All such requirements, whether listed on Exhibit C or not, are collectively referred to as the Conditions to Closing. 1 Conditional Sales Agreement

3 4. CLOSING. The Seller shall designate the specific place, date and time of Closing ("Closing Date") and provide notice, either in writing or orally, to Purchaser of same at least three (3) days prior to the date so designated. The form of limited warranty deed to be executed and delivered by Seller to Purchaser at Closing is attached hereto as Exhibit D. The form of deed to secure debt to be executed by Purchaser to Seller at Closing is attached hereto as Exhibit E. Unless Seller agrees otherwise, the Closing Date shall not be set for a date prior to the date Purchaser has met all Conditions to Closing. At Closing, all transfer taxes, intangible taxes, recording costs and other closing costs shall be paid from funds deposited in the Closing Fee Account. Upon the Closing of the sale contemplated hereunder, Purchaser shall maintain possession of the Property after the Closing Date. This Agreement shall terminate and be of no further force and effect after «OAEndDate» and, unless such date is extended by Seller, the Occupancy Agreement shall terminate and Seller shall have no further obligation to sell the Property to Purchaser thereafter. Should Purchaser default under the Occupancy Agreement and Seller terminates the Occupancy Agreement, this Agreement shall also terminate. 5. ACKNOWLEDGMENTS. Purchaser acknowledges and agrees that the financing for the purchase of the Property is to be provided exclusively by Seller at no interest pursuant to the rules and regulations of AFFILIATE NAME Buyer is not entitled to purchase the Property using funds from any source not previously approved in writing by Seller on this transaction. 6. CONDITION OF PROPERTY. Seller agrees to sell the Property to Purchaser in an as-is condition, with no warranty of any kind. Both parties acknowledge that Purchaser will be living in the Property and has greater access to and ability to discover defects than Seller. 7. NOTICES. Except as may be otherwise provided for in this Agreement, all notices required or permitted to be give hereunder shall be in writing and shall be deemed delivered, either (A) in person, (B) by overnight delivery service prepaid, (C) by facsimile (fax) transmission, or (D) U.S. Postal service, postal prepaid, registered or certified, return receipt required, to the party being given such notice at the appropriate address set forth below: As to Purchaser: As to Seller: «HomeownerName» «CurrentAddress» Phone: «CurrentPhone» AFFILIATE NAME AFFILIATE ADDRESS AFFILIATE PHONE NUMBER Such notices shall be deemed to have been given as of the date and time actually received by the receiving party, or the date of refusal to accept delivery or inability to deliver, as shown on the return receipt. In the event no address for purpose of notice is specified with respect to a particular party as required by this Paragraph, any other party may direct notices to such party at such party's address in its signature block below, if any, or to any business or residence, address known to such other party. Any such notice to an unspecified address shall be effective when delivered personally or, with respect to mailed notices, upon actual receipt by the party to whom such notice is directed, or the date of refusal to accept delivery or inability to deliver, as shown on the return receipt. 8. GENERAL. (A) Entire Agreement. This Agreement constitutes the sole and entire Agreement 2 Conditional Sales Agreement

4 between the parties hereto with respect to the subject matter hereof, and no modification of this Agreement shall be binding unless signed by all parties to this Agreement. No representation, promise, or inducement not included in this Agreement or referred to herein shall be binding upon any party hereto. (B) Captions. The headings of the beginning of each paragraph for clarification purposes only and are not intended to alter the context of this Agreement. (C) Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective heirs, executors, legal representatives, successors and assigns. Purchaser shall have no right to assign this Agreement without the express written consent of Seller. (D) Time of the Essence. Time is of the essence of this Agreement. (E) Governing Law. This Agreement shall be interpreted in all respects in accordance with the laws of the State of Georgia. Each party consents to the exclusive jurisdiction of the local, state and federal courts located in the State of Georgia for the purpose of enforcing rights under this agreement. Each party further specifically consents to venue in Muscogee County, Georgia. (F) No Waiver. No failure of any party to exercise any power given hereunder or to insist upon strict compliance with any obligation specified herein, and no custom or practice at variance with the terms hereof, shall constitute a waiver of either party's right to demand exact compliance with the terms hereof. (G) Counterparts. This Agreement may be executed in several counterparts, each of which shall constitute an executed original hereof. (H) Conditions Precedent. Conditions precedent to the obligation of either party to close hereunder, if any, are for the benefit of such party only, and any and all of said conditions may be waived in the discretion of the party benefited thereby. (I) Responsibility to Cooperate. Seller and Purchaser agree that such documentation as is reasonably necessary to carry out the terms of this Agreement shall be produced, executed and/or delivered by such parties within the time required to fulfill the terms and conditions of this Agreement. (J) Survival of Agreement. Any condition or stipulation not fulfilled at the time of the closing shall survive the closing, execution and delivery of the warranty deed until such time as said conditions or stipulations are fulfilled. 3 Conditional Sales Agreement

5 IN WITNESS WHEREOF, Purchaser and Seller have hereunto set their hands and seals as of the date indicated below. PURCHASER: By: «HomeownerName» Address: «CurrentAddress» Phone: «CurrentPhone» Date: «DateofMeeting» SELLER: AFFILIATE NAME By: Executive Director Address: xx Phone: xx Date: «DateofMeeting» 4 Conditional Sales Agreement

6 EXHIBIT A LEGAL DESCRIPTION OF PROPERTY

7 EXHIBIT B FORM OF OCCUPANCY AGREEMENT THIS OCCUPANCY AGREEMENT ("OCCUPANCY AGREEMENT") is made and entered into this, by and between AFFILIATE NAME, a Georgia non-profit corporation ("Habitat") and «HomeownerName» (jointly and severally if more than one person), individual resident(s) of the State of Georgia (hereinafter referred to [collectively, if more than one person] as "Occupant"). Terms used in this Occupancy Agreement, including, without limitation, the terms Occupant and Habitat shall be constructed to include the plural as well as the singular, and terms used herein in the present tense shall include the future as well as the present. Headings used herein are for convenience and do not limit or amplify the terms of this Occupancy Agreement. The terms Habitat and Occupant shall also be deemed to include their respective executors, administrators, successor, heirs, agents and permitted assigns. FOR AND IN CONSIDERATION OF the mutual promises contained in this Occupancy Agreement, the sufficiency of which is hereby acknowledged by Habitat and Occupant, the parties agree as follows: 1. Premises. Habitat hereby gives to Occupant, and Occupant hereby takes from Habitat, the right to occupy residence and related improvements, all fixtures and equipment and the land, walkways, trees and shrubbery located at «Address», Columbus, Muscogee County, Georgia (collectively, the Premises ). 2. Term. The initial term of this Occupancy Agreement shall be for a period of one (1) year beginning on the date of this Occupancy Agreement and ending at midnight on the date immediately preceding the first (1 st ) anniversary of the date of this Occupancy Agreement. 3. Use and Occupancy. The Premises shall be used and occupied as the primary residence of Occupant and only those additional persons specified below (collectively and individually, "Authorized Occupant(s) of the Premises"): Authorized Occupants of the Premises «HomeownerName» «Occupant1» «Occupant2» «Occupant3» «Occupant4» Occupant shall be permitted to have occasional guests for a period of thirty (30) days or less. In order to have a guest stay beyond such time period, Occupant shall obtain written permission from Habitat, which permission may be withheld or conditioned in Habitat s sole

8 discretion. Unless otherwise agreed to in writing by Habitat, any person who is not specified in this Occupancy Agreement as an Authorized Occupant of the Premises and who resides in the Premises beyond thirty (30) days will automatically be deemed an Unauthorized Occupant for purposes of this Occupancy Agreement. It shall be an event of default on the part of Occupant under this Occupancy Agreement for Occupant to allow any Unauthorized Occupant to reside in the Premises. If Occupant desires to have additional persons reside in the Premises, Occupant shall make a written request to Habitat, which request shall include the name, relation, and source and amount of income (if any) of the proposed additional resident. Habitat may, upon receipt of such request and information, and in its sole discretion, agree in writing to allow a proposed additional resident to become an Authorized Occupant of the Premises; provided, however, Habitat shall have the right to condition such agreement on the requirement that Occupant pay an increase in the monthly occupancy fee amount payable under this Occupancy Agreement based upon the additional amount of income attributable to such proposed additional occupant. 4. Occupancy Fee. Occupant agrees to pay Habitat Three hundred fifty dollars ($350.00) in monthly installments beginning on the first day of the month during the term of this Occupancy Agreement. If the term begins before or after the first day of the month, Occupant agrees to pay a prorata occupancy fee of $15.00 per day. This prorata occupancy fee is for the first month only. Should Occupant remain in occupancy beyond the initial term of one year, the occupancy fee shall be increased by $25.00 per month for each six month period beyond the initial 12 month term at the sole discretion of Habitat. Habitat shall have the right to charge and collect a late fee for any installment not received within ten (10) business days after the installment is due. The amount of the late fee shall be established by Habitat with notice of the amount given to Occupant, and is subject to change during the term of this Occupancy Agreement. Notice of any change in the amount will be given to Occupant in writing at least thirty days prior to said change going into effect. 5. Disclaimer. OCCUPANT ACKNOWLEDGES AND AGREES THAT HABITAT HAS NOT MADE, DOES NOT MAKE AND SPECIFICALLY NEGATES AND DISCLAIMS ANY REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS, AGREEMENTS, OR GUARANTIES OF ANY KIND OR CHARACTER WHATSOEVER, WHETHER EXPRESS OR IMPLIED, STATUTORY, ORAL OR WRITTEN, PAST, PRESENT, OR FUTURE, OF, AS TO, CONCERNING, OR WITH RESPECT TO (A) THE VALUE, NATURE, QUALITY, OR CONDITION OF THE PREMISES, (B) THE SUITABILITY OF THE PREMISES FOR ANY AND ALL ACTIVITIES AND USES WHICH OCCUPANT MAY CONDUCT THEREON, (C) THE COMPLIANCE OF OR BY THE PREMISES OR ITS OPERATION WITH ANY LAWS, RULES, ORDINANCES, OR REGULATIONS OF ANY APPLICABLE GOVERNMENTAL AUTHORITY OR BODY, (D) THE HABITABILITY, MERCHANTABILITY, MARKETABILITY, OR FITNESS FOR A PARTICULAR PURPOSE OF THE PREMISES, (E) THE MANNER OR QUALITY OF THE CONSTRUCTION OR MATERIALS INCORPORATED INTO THE PREMISES, (F) THE MANNER, QUALITY, STATE OF REPAIR OR LACK OF REPAIR OF THE PREMISES, (G) COMPLIANCE WITH ANY ENVIRONMENTAL REQUIREMENTS, INCLUDING THE EXISTENCE IN OR ON THE PREMISES OF HAZARDOUS MATERIALS, OR (H) ANY OTHER MATTER WITH RESPECT TO THE PREMISES. OCCUPANT FURTHER

9 ACKNOWLEDGES AND AGREES THAT, TO THE MAXIMUM EXTENT PERMITTED BY LAW, THE LEASING OF THE PREMISES AS PROVIDED FOR HEREIN IS AND SHALL BE MADE ON AN AS IS CONDITION AND BASIS WITH ALL FAULTS. IT IS UNDERSTOOD AND AGREED THAT THE PURCHASE PRICE HAS BEEN ADJUSTED BY PRIOR NEGOTIATION TO REFLECT THAT ALL OF THE PREMISES IS SOLD BY HABITAT AND PURCHASED BY OCCUPANT SUBJECT TO THE FOREGOING. THE PROVISIONS OF THIS PARAGRAPH SHALL SURVIVE ANY TERMINATION HEREOF. 6. Special Provisions. NONE. 7. Hold Harmless. Occupant hereby releases and agrees to indemnify and hold harmless Habitat from and against any and all claims for damages to persons or property arising out of or resulting from damages or losses alleged to have been sustained by Occupant, other members of Occupant's family or any guest, invitee, contractor or licensee of Occupant or persons in the employ or under the control of Occupant, arising from the use, occupancy or entry of the Premises by any such person. Occupant further agrees to indemnify Habitat against, and to reimburse Habitat for, all expenses, which may be incurred by Habitat in resisting any claim, including attorney s fees, and expenses of litigation. The provisions of this Section 7 shall survive the expiration or earlier termination of this Occupancy Agreement. 8. Utilities. Occupant shall obtain and maintain during the term of this Occupancy Agreement water, electricity, telephone, security and all other utilities necessary or appropriate for the Premises, and shall pay all costs associated with such utilities as and when same are payable. 9. Alterations. Occupant shall not make any alterations or changes to the Premises during the term of this Occupancy Agreement without the prior written consent of Habitat, which consent may be withheld or conditioned in Habitat s sole discretion. 10. Occupant Repairs and Upkeep. Occupant agrees to keep the Premises in good repair and in a clean, safe and sanitary condition. Occupant is responsible for the cost of damage to the Premises during the term of this Occupancy Agreement. In the event of any damage to the Premises during the term of this Occupancy Agreement, Habitat may, at its option, repair or pay for the repair of such damage and Occupant shall reimburse Habitat for the total cost of such repairs and for the replacement cost of all property destroyed or irreparably damaged. Such costs shall be due and payable by Occupant within five (5) days of receipt by Occupant of a bill from Habitat. Occupant agrees to immediately notify Habitat in writing of any repairs needed to the Premises. 11. Habitat Warranties. Habitat shall repair defects in construction materials and workmanship in the Premises for a period of one (1) year from the beginning date of the term of this Occupancy Agreement. Habitat will not repair, and shall have no responsibility for, defects

10 or problems within the Premises, which are caused by Occupant s acts or omissions, or any item not installed in the Premises as of the initial date of the term of the Occupancy Agreement. 12. No Operation of Business: Occupant shall not be permitted to operate a business of any kind for profit or not for profit on or in the Premises without the prior written permission of Habitat. 13. Nuisances. No noxious, hazardous or offensive activity shall be carried on upon the Premises, nor shall anything be done thereon which may be or may become an annoyance or nuisance in the neighborhood or which may create a fire or other hazard on or around the Premises. No rubbish or debris of any kind shall be dumped, placed, or permitted to accumulate upon any portion of the Premises, nor shall any odors be permitted to exist so as to render any portion offensive. 14. Automobiles, Trailers, Boats, Etc. No automotive vehicle that is inoperative shall remain parked in the street or driveway of the Premises for more than one (1) week. 15. Materials and Garbage and Refuse Disposal. No lumber, materials, refuse or trash shall be kept, stored or allowed to accumulate on the Premises (except building materials during the course of construction, maintenance or repair of the Premises). Trash, garbage or other waste shall not be kept except in secure and sanitary containers and such shall not be permitted to remain in public view except on days of trash collection. 16. Assignment, Subletting and Uses. Occupant shall not use the Premises in connection with any illegal or improper purpose and only for the uses permitted by law and Occupant shall not assign this Occupancy Agreement or sublet all or part of the Premises or secure a replacement for Occupant hereunder. 17. Access to Premises. During the term of this Occupancy Agreement Habitat shall have the right to enter and inspect the Premises upon twenty-four (24) hours oral or written notice; provided, however, in the event of any emergency, or perceived emergency, Habitat shall have the right to enter and inspect the Premises without any such advance oral or written notice. 18. Default. In the event of any breach or violation of any provision of this Occupancy Agreement by Occupant (a default ), Habitat shall have the right to terminate this Occupancy Agreement, whereupon Habitat shall be entitled to immediate possession of the Premises. In addition to the foregoing, Habitat shall have the right to exercise any and all remedies available at law or in equity as a result of any breach or violation of any provision in this Occupancy Agreement by Tenant including, without limitation, a suit for specific performance. 19. Homestead. Occupant waives all homestead rights and exemptions, which they may have under any law as against any obligation owing under this Occupancy Agreement. Occupant hereby assigns to Habitat Occupant's homestead exemption.

11 20. Termination. (a) Occupant shall have the right to terminate this agreement upon thirty (30) days prior written notice to Habitat. (b) In addition to the right of termination in favor of Habitat pursuant to the provisions of Sections 2 and 18 above, Habitat shall have the right to terminate this Occupancy Agreement upon thirty (30) days prior written notice to Occupant if any change or condition occurs during the term of the Occupancy Agreement whereby Occupant no longer meets the program criteria of Habitat for the purchase of the Premises. (c) Furthermore, Occupant acknowledges that Habitat may have the ability to utilize grant funding for the Property. In the event the terms of said grant funding require Occupant to meet program requirements in a period of less than one year, then Occupant agrees to meet those requirements in the time required as notified by Habitat or to vacate the Property upon thirty (30) days notice as provided in this Occupancy Agreement. Upon any such termination, all occupancy fees paid by Occupant under this Occupancy Agreement shall be retained by Habitat as fully earned and Occupant shall pay any additional occupancy fee still due under the Occupancy Agreement as well as any costs of repairs necessary to put the Premises in acceptable condition for a new Occupant. Each Occupant acknowledges and agrees that such Occupant shall have no legal or equitable claim for any occupancy fee that would have been applied as a credit against the purchase price had the Occupant purchased the Premises. Upon any termination of this Occupancy Agreement pursuant to item 20 above, Habitat may enter into a new Occupancy Agreement with any Occupant under this Occupancy Agreement who, at the time of such termination, is an Authorized Occupant of the Premises and remains a resident of the Premises, with all non-refundable account funds held by Habitat under this Occupancy Agreement being transferred and applied to the accounts established in connection with such new Occupancy Agreement. ANY PERSON NOT REMAINING A RESIDENT OF THE PREMISES AND A OCCUPANT UNDER A NEW OCCUPANCY AGREEMENT AUTOMATICALLY WAIVES ANY AND ALL INTERESTS IN THE PREMISES ARISING UNDER THIS OCCUPANCY AGREEMENT AND IN THE NON- REFUNDABLE ACCOUNT FUNDS HELD BY HABITAT. 21. Dispossession Following Default. Upon default by Occupant under this Occupancy Agreement, Occupant shall become a tenant at sufferance and may be dispossessed from the Premises by Habitat as provided by law. 22. No Waiver. The failure by Habitat to exercise any power given herein or by law to Habitat or to insist upon strict compliance by Occupant of any obligation imposed on Occupant shall not constitute a waiver of Habitat's right to demand full and complete compliance with each and every provision hereof or to exercise and enforce all powers and remedies available to Habitat. The remedies herein granted are cumulative and in addition to all other remedies granted to Habitat by law. In exercising any of its remedies, Habitat may use such

12 force as is necessary to dispossess Occupant without being guilty of forceful entry or detainer, trespass or other tort. 23. Entire Agreement. This Occupancy Agreement constitutes the entire agreement between the parties and any representation, inducement, promise or agreement, oral or otherwise, between the parties not embodied herein shall be of no force or effect. 24. Occupant's Acknowledgment. By initialing below, Occupant acknowledges that any default, whether monetary or otherwise, is grounds for termination of this Occupancy Agreement and constitutes a failure to meet the conditions required by Habitat from time to time to purchase the Premises. Occupant's Initials Occupant admits/acknowledges review of this document and has not relied upon any oral provisions or warranties made by Habitat, its employees, agents, directors or volunteers. Occupant s Initials 25. Abandonment. Occupant shall not abandon the Premises during the term of this Occupancy Agreement. Any and all property of Occupant which may be left in the Premises after termination of this Occupancy Agreement or Occupant s termination of possession of the Premises for any reason may be handled, removed or otherwise disposed of by Habitat at the risk and expense of Occupant, and Habitat shall in no event be responsible for any property left in the Premises by Occupant. Occupant hereby expressly consents to sale, removal, discard or any other disposition of such abandoned property by Habitat. 26. Rules and Regulations. Habitat reserves the right to make reasonable rules as in Habitat s judgment from time to time be needed for the safety, care and cleanliness of the property, and for the preservation of the good order therein. Occupant agrees to abide by said rules. 27. Severability. If any portion of this Occupancy Agreement is held invalid for any reason, it is the intent of the parties that such portion shall be severable, and such invalidity shall not affect the remainder of this Occupancy Agreement and all remaining portions shall remain in effect. 28. Destruction. Habitat shall not be liable for damage to Occupant s property of any type for any reason or cause whatsoever, except for such damages due to Habitat s negligence. 29. Notices. All notices to be delivered under this Occupancy Agreement shall be in writing and given personally or mailed by registered or certified mail, return receipt requested, to the other party s last known address or, with respect to Occupant, tacked to the door of the Premises.

13 30. Georgia Law. This Occupancy Agreement shall be construed in accordance with Georgia Law. IN WITNESS WHEREOF, the parties have signed and sealed this Occupancy Agreement as of the date first written above. HABITAT: OCCUPANT: AFFILIATE NAME By: Executive Director «HomeownerName»

14 EXHIBIT C PARTIAL LIST OF CONDITIONS TO CLOSING 1. By the Closing Date, Purchaser shall have performed a minimum of two hundred five hundred (500) hours of as designated by Seller in the Partner Family Manual. To prove compliance with this requirement, Purchaser must have signed-in and maintained a record of Purchaser s volunteer hours with verification from Habitat staff or other authorized supervisor if volunteer work was done elsewhere. 2. By the Closing Date, Purchaser shall have attended all required education meetings and/or workshops. To prove compliance with this requirement, Purchaser shall have signed-in on the official attendance sheet and maintained a record of Purchaser s attendance at homeowner meetings. 3. Purchaser shall have maintained the Property in good repair and condition, normal wear and tear excepted, in compliance with the Occupancy Agreement. Seller may inspect the Property in accordance with the inspection clause in the Occupancy Agreement. 4. Purchaser s household income level and credit standing must continue to meet established guidelines as contained in the Columbus Area Habitat for Humanity Homeownership Program. Seller has the right to obtain information necessary to verify that these requirements continue to be met. 5. Purchaser shall have made all of the payments required to be made pursuant to Paragraph 4 of the Occupancy Agreement in a timely manner and complied with all other terms and conditions of the Occupancy Agreement.