HomeMy WebLinkAboutL 11436 P 581 • - COMULT YOM LAWYER BEFORE"WHO TWf WSTWJWW 7Trs VUTlJMW t He"to U50 RT LAWYERS ORLY.
11436N581
no wDENTUAF.,,made the I t t dap of .nineteen hundred and
ninetyv
BETWEEN the TOWN OF SOUTHOLD, a municipal corporation of the State of New York,
County of Suffolk, having its principal office at 53095 MainRoad, Southold, New
York 11971,
DIyTRK:T SECTION
fiLOCK LOT
[IRE
partyof the fist part, and the NORTH FORK HOUSING ALLIANCE, having its principal office
at 18 South Street, Greenport, New York 11944,
RECEIVE
F R1,*-,",:. "'I!JE
+IAR 19h 1992
1Rn��;rrR 1AX R•a.38
SUFFOLK
c L , COUNTY
L it o puny of the second put,
WrrNE3SEM that the party of the fust part,in consideration of 01`14e Q C
dollars,
C�({ paid
yrwful money of the United States,
Jby the party of the second part, does hereby remise, release and quitclaim unto the party of the second part,
the heirs or successors and assigns of the party of the second part forever,
ALL that certain plot, piece or parcel of land, with the buildings and improvements thereon eraeted, situate,
✓ 4>,
,. ! i3 1 and being in the Town of Southold, County of Suffolk and State of New York, and
Ttii+� Ymg
acquired by Tax Deed on December 16 1986, from the County of Suffolk, New York,
and recorded on December 16, 1986 in Liber 10194, Page 390 ., and otherwise known
as and by Town of Southold, Greenport Driving Park Map 369 Lot 79,
DISTRICT
1000 FURTHER, notwithstanding the above description, it is the intention of this
conveyance to give title only to such property as was acquired by the Town of
SEC1 ON Southold by Tax Deed on December 16, 1986, from the County of Suffolk, New York,
048.00 and recorded on December 16, 1986 in Liber 10194, Page 390.
BL= PROVIDED, however, that the party of the second part, will be restricted in its
02.00 use of the subject premises and will use said premises solely and exclusively
for affordable housing purposes; all right, title, and interest will revert to
IdP the party of the first part, at the sole option of the party of the first part,
026.000 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, clauses contained herein shall apply to the grantee, or any
transferee from the grantee formed pursuant to Article XIX - Affordable Home
Ownership Development Program of the Private Housing Finance Law of the State of
New York, or a not-for-profit corporation formed under 5402 of the
Not-for-Profit Corporation Law for affordable housing purposes.
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
of affordable housing unit or units on said property within three (3) years from
r ''the date of this deed;
2. Tf rwe I"+" of '-h' nornnA Hart sells or othPrwiae transfers
annual
rfhouaehold
RECORDED MAR 191992 (3L�(flf>NIPI�OIK fordable
FAMARO P M0' '� s for non-targeted
' pp �. _ ...... loin rn�r�y�.ye .•7___, i Housing Program for
Suffolk County;