4636

LAWS OF MARYLAND

Ch. 836

(3) UNLESS WRITTEN ACCEPTANCE OF THE OFFER IS
SOONER DELIVERED TO THE OWNER BY THE COUNTY, INCORPORATED
MUNICIPALITY OR HOUSING AGENCY, THE OFFER SHALL TERMINATE,
WITHOUT FURTHER ACT, 60 DAYS AFTER IT IS DELIVERED TO THE
COUNTY, INCORPORATED MUNICIPALITY OR HOUSING AGENCY. IF THE
OFFER TERMINATES, THE OWNER MAY GRANT THE RENTAL FACILITY TO
ANY PERSON FOR ANY PURPOSE ON TERMS AND CONDITIONS NOT LESS
FAVORABLE THAN THOSE OFFERED BY THE OWNER TO THE COUNTY,
INCORPORATED MUNICIPALITY OR HOUSING AGENCY.

[(6)] (4) If the [local government] COUNTY,
INCORPORATED MUNICIPALITY, OR HOUSING AGENCY purchases the
rental facility, it shall retain or provide for the
retention of the property as a rental facility for at least
3 years from the date of acquisition.

[(d)] (B) (C) A local law or ordinance adopted under
subsection [(b)] (A) of this section may provide that the
owner of a rental facility [containing ten or more units
shall be] IS exempt from the provisions of this section if
the purchaser of the rental facility enters into an
agreement with the [local government] COUNTY, INCORPORATED
MUNICIPALITY, OR HOUSING AGENCY to retain the property as a
rental facility for a period not to exceed 3 years after the
date of acquisition of the property.

[(e)] (C) (D) [A right of first refusal provided for]
THE PROVISIONS OF ANY LOCAL LAW OR ORDINANCE ADOPTED under
this section shall not apply to any of the following
transfers of A rental [facilities] FACILITY:

[(i)] (1) Any transfer made pursuant to the
terms of a bona fide mortgage or deed of trust agreement;

[(ii)] (2) Any transfer to a mortgagee in lieu
of foreclosure or any transfer pursuant to any other
proceedings, arrangement or deed in lieu of foreclosure;

[(iii)] (3) Any transfer made pursuant to a
judicial sale or other judicial proceeding brought to secure
payment of a debt or for the purpose of securing the
performance of an obligation;

[(iv)] (4) Any transfer of the interest of one
co-tenant to another co-tenant by operation of law or
otherwise;

[(v)] (5) Any transfer made by will or descent
or by intestate distribution;

[(vi)] (6) Any transfer made to any municipal,
county or State government or to any agencies,
instrumentalities or political subdivisions thereof;

[(vii)] (7) Any transfer to a spouse, son or
daughter; [or