| (a) Occupancy requirement. The Homebuyer must occupy
the property within a reasonable time (not to exceed 60 days) after
the date of closing as his or her Residence.
(b) Use for a business. Homebuyer may not use more
than 15% of the Residence in a trade or business (including childcare
services) on a regular basis for compensation. If the Residence is
to be used, in part, for a trade or business, a schematic drawing
from an appraiser must be provided.
(c) Homebuyer may not use the Residence, or any part
thereof, as an investment property, rental property, vacation or second
home, or recreational home, and shall continue to occupy the Residence
as Homebuyer's principal living space, unless waived by the Executive
Director or their designee, which consent shall not be unreasonably
withheld, or unless extenuating circumstances exist which are beyond
Homebuyer's control.
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