Common use of Forced Sale Clause in Contracts

Forced Sale. JTCHA may terminate the Lease and require the Homeowner to sell the Home in accordance with the resale procedures set forth in this Lease and the Guidelines. In the event of such a sale, all proceeds will be applied in the following order: FIRST, to the payment of any unpaid taxes; SECOND, to the payment of any Qualified Mortgage; THIRD, to assessments, claims and liens on the Home or Leased Land (not including any mortgage or lien purportedly affecting the Home which is not a Qualified Mortgage); FOURTH, to the payment of closing costs and fees; FIFTH, to the 2% facilitation fee to JTCHA; SIXTH, to the payment of any penalties assessed against the owner by JTCHA; SEVENTH, to the repayment to JTCHA of any unpaid Lease Fees and any monies advanced by JTCHA in connection with a mortgage or other debt with respect to the Home or Leased Land, or any other payment made by JTCHA on owner’s behalf; EIGHTH, to the cost of any repairs required by JTCHA for the Home; and NINTH, the balance, if any, to the Homeowner. If there are insufficient proceeds to satisfy the foregoing, the owner shall remain liable for such deficiency.

Forced Sale. JTCHA may terminate the Lease and require the Homeowner to sell the Home in accordance with the resale procedures set forth in this Lease and the GuidelinesRules and Regulations. In the event of such a sale, all proceeds will be applied in the following order: FIRST, to the payment of any unpaid taxes; SECOND, to the payment of any Qualified Mortgage; THIRD, to assessments, claims and liens on the Home or Leased Land (not including any mortgage or lien purportedly affecting the Home which is not a Qualified Mortgage); FOURTH, to the payment of closing costs and fees; FIFTH, to the 2% facilitation fee to JTCHA; SIXTH, to the payment of any penalties assessed against the owner by JTCHA; SEVENTH, to the repayment to JTCHA of any unpaid Lease Fees and any monies advanced by JTCHA in connection with a mortgage or other debt with respect to the Home or Leased Land, or any other payment made by JTCHA on owner’s behalf; EIGHTH, to the cost of any repairs required by JTCHA for the Home; and NINTH, the balance, if any, to the Homeowner. If there are insufficient proceeds to satisfy the foregoing, the owner shall remain liable for such deficiency.

Forced Sale. JTCHA may terminate the Lease and require the Homeowner to sell the Home in accordance with the resale procedures set forth in this Lease and the GuidelinesHousing Rules and Regulations. In the event of such a sale, all proceeds will be applied in the following order: FIRST, to the payment of any unpaid taxes; SECOND, to the payment of any Qualified Mortgage; THIRD, to assessments, claims and liens on the Home or Leased Land (not including any mortgage or lien purportedly affecting the Home which is not a Qualified Mortgage); FOURTH, to the payment of closing costs and fees; FIFTH, to the 2% facilitation fee to JTCHA; SIXTH, to the payment of any penalties assessed against the owner by JTCHA; SEVENTH, to the repayment to JTCHA of any unpaid Lease Fees and any monies advanced by JTCHA in connection with a mortgage or other debt with respect to the Home or Leased Land, or any other payment made by JTCHA on owner’s behalf; EIGHTH, to the cost of any repairs required by JTCHA for the Home; and NINTH, the balance, if any, to the Homeowner. If there are insufficient proceeds to satisfy the foregoing, the owner shall remain liable for such deficiency.