VBA: Village By The Arboretum - Resale Homes Lease Excerpt

16. SALE OF RESIDENTIAL DWELLING UNIT

16.1 Sale Compliance

The Tenant shall not have the right to sell the Residential Dwelling Unit located on the Demised Land except in compliance with the provisions of this paragraph and such other provisions in the Lease which may be applicable thereto.

16.2 Listing Agreement

A tenant who wishes to use an agent for the sale of the Residential Dwelling Unit agrees to retain an agent who is familiar with the nature and operation of the project and is otherwise satisfactory to the Landlord acting reasonably.

16.3 Consent To Sale

The Tenant shall not sell the Residential Dwelling Unit without the prior consent of the Landlord, such consent not to be unreasonably withheld or delayed. In this regard, the Landlord shall be entitled to require information as to compliance with the criteria described in Section 17 of this Lease. The Landlord shall not withhold its consent to the sale of a Residential Dwelling Unit without giving written reasons to the Tenant.

16.4 No Separate Assignment

The Tenant shall not assign, encumber or otherwise deal with the Residential Dwelling Unit or any other improvements on the Demised Land separately from any purchaser dealing with the subleasehold interest under this Lease to the intent that no Person shall hold or enjoy any interest in this Lease who does not at the same time hold a like interest in the Residential Dwelling Unit and other improvements on the Demised Land.

17. ASSIGNMENT. SUBLETTING AND PARTING WITH POSSESSION

The Tenant shall not assign, sublet or part with possession of the Demised Land or the Residential Dwelling Unit situate thereon in whole or in part without the prior written consent of the Landlord, which consent shall not be unreasonably withheld or delayed. The Landlord shall be entitled to request details as to the financial credit worthiness of the proposed assignee. To the extent that such a requirement is permitted at law, the proposed assignee or sub-tenant and any proposed occupant shall have attained the minimum age of 55 years. Any assignee or sub tenant approved by the Landlord shall agree in writing to be bound by the within Lease and shall enter into an acknowledgment agreement with the University in the form attached as Schedule "F''. Any assignee shall be the owner of the Residential Dwelling Unit. The Landlord shall be entitled to charge an administrative fee for any assignment.

16. SALE OF RESIDENTIAL DWELLING UNIT
16.1 Sale Compliance	The Tenant shall not have the right to sell the Residential Dwelling Unit located on the Demised Land except in compliance with the provisions of this paragraph and such other provisions in the Lease which may be applicable thereto.
16.2 Listing Agreement	A tenant who wishes to use an agent for the sale of the Residential Dwelling Unit agrees to retain an agent who is familiar with the nature and operation of the project and is otherwise satisfactory to the Landlord acting reasonably.
16.3 Consent To Sale	The Tenant shall not sell the Residential Dwelling Unit without the prior consent of the Landlord, such consent not to be unreasonably withheld or delayed. In this regard, the Landlord shall be entitled to require information as to compliance with the criteria described in Section 17 of this Lease. The Landlord shall not withhold its consent to the sale of a Residential Dwelling Unit without giving written reasons to the Tenant.
16.4 No Separate Assignment	The Tenant shall not assign, encumber or otherwise deal with the Residential Dwelling Unit or any other improvements on the Demised Land separately from any purchaser dealing with the subleasehold interest under this Lease to the intent that no Person shall hold or enjoy any interest in this Lease who does not at the same time hold a like interest in the Residential Dwelling Unit and other improvements on the Demised Land.
17. ASSIGNMENT. SUBLETTING AND PARTING WITH POSSESSION
	The Tenant shall not assign, sublet or part with possession of the Demised Land or the Residential Dwelling Unit situate thereon in whole or in part without the prior written consent of the Landlord, which consent shall not be unreasonably withheld or delayed. The Landlord shall be entitled to request details as to the financial credit worthiness of the proposed assignee. To the extent that such a requirement is permitted at law, the proposed assignee or sub-tenant and any proposed occupant shall have attained the minimum age of 55 years. Any assignee or sub tenant approved by the Landlord shall agree in writing to be bound by the within Lease and shall enter into an acknowledgment agreement with the University in the form attached as Schedule "F''. Any assignee shall be the owner of the Residential Dwelling Unit. The Landlord shall be entitled to charge an administrative fee for any assignment.