Common use of Delivery Mechanism Clause in Contracts

Delivery Mechanism. 6.1 The First Homes shall be marketed for sale and shall only be sold (whether on a first or any subsequent sale) as First Homes to a person or person(s) meeting: 6.1.1 the Eligibility Criteria (National); and 6.1.2 the Eligibility Criteria (Local) (if any). 6.2 If after a First Home has been actively marketed for 3 months (such period to expire no earlier than three (3) months prior to Practical Completion) it has not been possible to find a willing purchaser who meets Eligibility Criteria (Local) (if any), paragraph 6.1.2 shall cease to apply 6.3 Subject to paragraphs 6.6 to 6.19, no First Home shall be Disposed of (whether on a first or subsequent sale) unless not less than 50% of the purchase price is funded by a first mortgage or other home purchase plan with a Mortgagee 6.4 No First Home shall be Disposed of (whether on a first or any subsequent sale) unless and until: 6.4.1.1 the intended purchaser meets the Eligibility Criteria (National) and unless paragraph 6.2 applies meets the Eligibility Criteria (Local) (if any) 6.4.1.2 the Dwelling is being Disposed of as a First Home at the Discount Market Price and a) a definition of the “Council” which shall be Hertsmere Borough Council

Delivery Mechanism. 6.1 The First Homes shall be marketed for sale and shall only be sold (whether on a first or any subsequent sale) as First Homes to a person or person(s) meeting: 6.1.1 the : The Eligibility Criteria (National); and 6.1.2 the and The Eligibility Criteria (Local) (if any). 6.2 If after a First Home has been actively marketed for 3 months (such period to expire no earlier than three (3) months prior to Practical Completion) it has not been possible to find a willing purchaser who meets the Eligibility Criteria (Local) (if any), paragraph 6.1.2 6.1(b) of this Schedule shall cease to apply 6.3 . Subject to paragraphs 6.6 to 6.196.10 of this Schedule, no First Home shall be Disposed of (whether on a first or any subsequent sale) unless not less than 50% of the purchase price is funded by a first mortgage or other home purchase plan with a First Homes Mortgagee 6.4 . No First Home shall be Disposed of (whether on a first or any subsequent sale) unless and until: 6.4.1.1 until the Council has been provided with evidence that: The intended purchaser meets the Eligibility Criteria (National) and unless paragraph 6.2 applies meets the Eligibility Criteria (Local) (if any) 6.4.1.2 the Dwelling ; The First Home is being Disposed of as a First Home at the Discount Market Price and a) Price; The transfer deed of the First Home includes; a definition of the “"Council” " which shall be Hertsmere Borough the Council;