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GONSLLI YJUA LAWYER BEFORE SIGNING THIS INSTRUMENT -- I.IIS INSTRUMENT SHOULD BE USED BY LAWYERS ONLY
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THIS INI)ENTURE, made the 15thlay of August nineteen hundred and eighty-nine
RETM I.',LN Town of Southold, a municipal corporation of the State of New York
having offices at Main Road, Southold, New York 11971 .
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ly
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party II,e lin.+t P.nI, alld North Fork Housing Alliance, Inc. _
110 South Str eet
Gj \� Greenport, New York 11944 a '
Otl'�1' : a 1969
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Vi) palIN t Ihc ,cn,ad part,
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WITNt:S-1:111, dial tilt- pally of the lilst part, in coasidel.rl,,,n of
Ten dollars,
Ulawful m,rt,'y LI the I Initcd Stale, paid
Vby dl, ,;it o of ill,- second Imit, d„cs hcleby realise, relca,, amt yuaclaim unto the party of the second part, .
the Lr..s „r su.re„ors and :u,igas.d the party of the set uu.l I'll t forever,
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iJ AL1. :li,I .cii.tin pl,.t, piece or panel of land, with the hoddinyiinid improvements thereonerected, situ-
ate, h ig and 6eiug in tilt- Town of Southold, County of Suffolk and State of New York,
1\� and Icgtdred by Tax Deed on March 20, 1985, from General L. Rains, the Deputy
County Treasurer of Suffolk County, New York, and recorded on March 31 , 1985,
in Liber 9756, Page 53/54, and otherwise known as and by Town of Southold
Scla Dist 05 N-Weinstein-Urs E-Crowley S-Connolly-Ors W-Kraus-Ano.
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Further, notwithstanding the above description, it is the intention of
this conveyance to give title only to such property as was acquired by the party
of the first part by Quitclaim Deed.,on August 23, 1988 from the County of
Suffolk, New York and recorded on April 5, 1989, in Liber 10830 page 42, 43, 44
Uand 45.
\ PROVIDED, however, that the party of the second part, will be restricted in its
use! ole the subject premises and will use said premises solei; and exclusively for
affordable housing purposes; all right, title and interest will revert to the party
of the first part, at the sole option of the party of the first part, in the event
that the party of the second part, at any time uses or attempts to use said
subject premises for other than affordable housing purposes, in accordance with
the approved plan submitted by the party of the second part. The reverter
clause contained herein shall apply to the grantee, or any transferee from the
gri:.tee formed pursuant to Article XIX - Affordable Home Ownership Development
�\ Pragram of the Private Housing Finance Law of the State of New York, or a
not for- profit corporation formed under 41101 of the loot-for-Profit Corporation
l Law for affordable housing purposes.
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Additionally, if any one or more of the following occurs, the property
secured by this deed shall revert as hereinbefore set forth;
1 . If the party of the second part fails to construct or complete construction
o_f sffordable housing unit or units on said property within three (3) years from
�C0 E -ate 3 1989 11(III1"a.HOL I or otherwise transfers an affordable
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hot.sing ant: cr unl._ ers whose total annual household
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