Common use of Selection Day Clause in Contracts

Selection Day. It is anticipated that the Selection Day will be scheduled for August 1, 2020, 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, Developer will provide to Reserving Party the opportunity to buy one (1) Unit by delivering to Reserving Party a contract for purchase on Developer’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 Developer, together with the xxxxxxx money deposit required under the Purchase Contract (in an amount to be determined by Developer), within three (3) business days of Reserving Party receiving the purchase contract from Developer. Upon written notice to the Escrow Agent by Reserving Party and direction to transfer the Reservation Deposit to Developer, 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 for August 1July 17th, 20202021, but this date cannot be determined defined as of the Effective Date and could be sooner or later than anticipated herein. If this Agreement is still in effect, Developer will provide to Reserving Party the opportunity to buy one two (12) Unit Units by delivering to Reserving Party a contract for purchase on Developer’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 Developer, together with the xxxxxxx money deposit required under the Purchase Contract (in an amount to be determined by Developer), within three (3) business days of Reserving Party receiving the purchase contract from Developer. Upon written notice to the Escrow Agent by Reserving Party and direction to transfer the Reservation Deposit to Developer, 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 for August 1, 2020occur in the 3rd Quarter of 2024, 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, Developer will provide to Reserving Party the opportunity to buy one (1) Unit by delivering to Reserving Party a contract for purchase on Developer’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 DeveloperDevelop- er, together with the xxxxxxx money deposit required under the Purchase Contract (in an amount to be determined by Developer), within three (3) business days of after Developer has sent the Purchase Contract to Reserving Party receiving the purchase contract from DeveloperParty. Upon written notice to the Escrow Agent by Reserving Party and direction to transfer trans- fer the Reservation Deposit to Developer, 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 for August 1late September, 20202023, but this date cannot be determined defined as of the Effective Date and could be sooner or later than anticipated herein. If this Agreement is still in effect, Developer will provide to Reserving Party the opportunity to buy one purchase up to two (12) Unit Units by delivering to Reserving Party a contract for purchase on Developer’s standard form purchase contract Developer Homesite Purchase Agreement (the “Purchase ContractAgreement”) 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 Agreement to Developer, together with the $10,000 xxxxxxx money deposit required under the Purchase Contract (in an amount to be determined by Developer)Agreement, within three (3) business days of Reserving Party receiving the purchase contract Agreement from Developer. Upon written notice to the Escrow Agent by Reserving Party and direction to transfer the Reservation Deposit to DeveloperParty, the $10,000 Reservation Deposit may be applied to the xxxxxxx money deposit of one Purchase Agreement as required under the Purchase ContractAgreement.