3244                                           LAWS OF MARYLAND                                      Ch. 833

5-6B-05 OF THIS SUBTITLE. SETTLEMENT CANNOT BE REQUIRED ANY
EARLIER THAN 120 DAYS AFTER THE OFFER IS ACCEPTED BY THE TENANT.

(2)(I) THE COOPERATIVE HOUSING CORPORATION SHALL
ADOPT UNIFORM OBJECTIVE STANDARDS CONCERNING FINANCIAL
RESPONSIBILITY WHICH SHALL APPLY TO ALL TENANTS AND INITIAL
PURCHASERS.

(II) THE TENANT'S ACCEPTANCE OF THE POWER'S

OFFER IS CONDITIONED ON THE TENANT MEETING THE FINANCIAL

STANDARDS ESTABLISHED BY THE COOPERATIVE HOUSING CORPORATION

UNDER SUBPARAGRAPH (I) OF THIS PARAGRAPH.

(3) THE OFFER TO EACH TENANT SHALL BE MADE
CONCURRENTLY WITH THE GIVING OF THE NOTICE REQUIRED BY § 5-6B-05
OF THIS SUBTITLE, SHALL BE A PART OF THAT NOTICE, AND SHALL STATE
THAT:

(I) THE OFFER WILL TERMINATE UPON THE EARLIER
TO OCCUR OF TERMINATION OF THE LEASE BY THE TENANT OR 60 DAYS
AFTER DELIVERY:

(II) ACCEPTANCE OF THE OFFER BY A TENANT WHO
MEETS THE CRITERIA FOR AN EXTENDED LEASE UNDER § 5-6B-07(B) OF
THIS SUBTITLE IS CONTINGENT UPON THE TENANT NOT RECEIVING AN
EXTENDED LEASE;

(III) SETTLEMENT CANNOT BE REQUIRED EARLIER
THAN 120 DAYS AFTER ACCEPTANCE BY THE TENANT; AND

(IV) THE HOUSEHOLD IS ENTITLED TO REIMBURSEMENT
FOR MOVING EXPENSES AS PROVIDED IN SUBSECTION (H) OF THIS
SECTION.

(4) DEL1VERY OF A NOTICE IN THE FORM SPECIFIED IN §
5-6B-05(F) OF THIS SUBTITLE MEETS THE REQUIREMENTS OF SUBSECTION
(A) OF THIS SECTION.

(B) (1) NOTWITHSTANDING THE PROVISIONS OF SUBSECTION (A) OF
THIS SECTION, AN OWNER MAY MAKE ALTERATIONS OR ADDITIONS TO THE
SIZE, LOCATION, CONFIGURATION, AND PHYSICAL CONDITION OF THE
RESIDENTIAL RENTAL FACILITY, THE DEVELOPER IS NOT REQUIRED TO
MAKE THE BOUNDARIES OF A PORTION OF THE RESIDENTIAL RENTAL
FACILITY OCCUPIED BY A TENANT AS THE TENANT'S RESIDENCE COINCIDE
WITH THE BOUNDARIES OF A PROPOSED UNIT.

(2) IF THE BOUNDARIES OF A PORTION OF THE RESIDENTIAL
RENTAL FACILITY OCCUPIED BY A TENANT AS THE TENANT'S RESIDENCE DO
NOT COINCIDE WITH THE BOUNDARIES OF A PROPOSED UNIT, THEN. TO THE
EXTENT REASONABLE AND PRACTICABLE, THE OWNER SHALL OFFER IN
WRITING TO THAT TENANT THE RIGHT TO PURCHASE A COOPERATIVE
INTEREST, THE OFFER SHALL BE AT A PRICE AND ON TERMS, AND
CONDITIONS AT LEAST AS FAVORABLE AS THE PRICE, TERMS, AND
CONDITIONS OFFERED FOR THE COOPERATIVE INTEREST WHICH IS COUPLED
WITH THE PROPRIETARY LEASE FOR THAT PORTION OF THE RESIDENTIAL