Common use of Selection Day Clause in Contracts

Selection Day. It is anticipated that the Selection Day will be scheduled in Q3, 2022, but this date cannot be determined as of the Effective Date and could be sooner or later than anticipated herein. If this Agreement is still in effect, Builder will provide to Reserving Party the opportunity to buy two (2) Units by delivering to Reserving Party a contract for purchase on Builder’s standard form purchase contract (the “Purchase Contract”) with a copy of the same to the Escrow Agent. If Reserving Party elects to purchase a Unit, Reserving Party must sign and return the Purchase Contract to Builder, together with the xxxxxxx money deposit required under the Purchase Contract (in an amount to be determined by Builder), within three (3) business days of Reserving Party receiving the purchase contract from Builder. Upon written notice to the Escrow Agent by Reserving Party and direction to transfer the Reservation Deposit to Builder, the Reservation Deposit may be applied to the xxxxxxx money deposit required under the Purchase Contract.

Selection Day. It is anticipated that the Selection Day will be scheduled in Q3, 20222023, but this date cannot be determined as of the Effective Date and could be sooner or later than anticipated herein. If this Agreement is still in effect, Builder will provide to Reserving Party the opportunity to buy two (2) Units by delivering to Reserving Party a contract for purchase on Builder’s standard form purchase contract (the “Purchase Contract”) with a copy of the same to the Escrow Agent. If Reserving Party elects to purchase a Unit, Reserving Party must sign and return the Purchase Contract to Builder, together with the xxxxxxx money deposit required under the Purchase Contract (in an amount to be determined by Builder), within three (3) business days of Reserving Party receiving the purchase contract from Builder. Upon written notice to the Escrow Agent by Reserving Party and direction to transfer the Reservation Deposit to Builder, the Reservation Deposit may be applied to the xxxxxxx money deposit required under the Purchase Contract.

Selection Day. It is anticipated that the Selection Day will be scheduled in Q3for February 19th, 2022, but this date cannot be determined as of the Effective Date and could be sooner or later than anticipated herein. If this Agreement is still in effect, Builder will provide to Reserving Party the opportunity to buy two (2) Units by delivering to Reserving Party a contract for purchase on Builder’s standard form purchase contract (the “Purchase Contract”) with a copy of the same to the Escrow Agent. If Reserving Party elects to purchase a Unit, Reserving Party must sign and return the Purchase Contract to Builder, together with the xxxxxxx money deposit required under the Purchase Contract (in an amount to be determined by Builder), within three (3) business days of Reserving Party receiving the purchase contract from Builder. Upon written notice to the Escrow Agent by Reserving Party and direction to transfer the Reservation Deposit to Builder, the Reservation Deposit may be applied to the xxxxxxx money deposit required under the Purchase Contract.

Selection Day. It is anticipated that the Selection Day will be scheduled in Q3Q2, 2022, but this date cannot be determined as of the Effective Date and could be sooner or later than anticipated herein. If this Agreement is still in effect, Builder will provide to Reserving Party the opportunity to buy two (2) Units by delivering to Reserving Party a contract for purchase on Builder’s standard form purchase contract (the “Purchase Contract”) with a copy of the same to the Escrow Agent. If Reserving Party elects to purchase a Unit, Reserving Party must sign and return the Purchase Contract to Builder, together with the xxxxxxx money deposit required under the Purchase Contract (in an amount to be determined by Builder), within three (3) business days of Reserving Party receiving the purchase contract from Builder. Upon written notice to the Escrow Agent by Reserving Party and direction to transfer the Reservation Deposit to Builder, the Reservation Deposit may be applied to the xxxxxxx money deposit required under the Purchase Contract.