Delivery Mechanism. 5.1 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: 5.1.1 the First Homes Eligibility Criteria (National); and 5.1.2 the First Homes Eligibility Criteria (Local) (if any). 5.2 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 First Homes Eligibility Criteria (Local) (if any), paragraph 5.1.2 shall cease to apply. 5.3 Subject to paragraphs 5.6 to 5.10, 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 Home Mortgagee.
Appears in 2 contracts
Sources: Section 106 Agreement, Section 106 Agreement