HARRY HUGHES, Governor                                          3245

RENTAL FACILITY TO ANY OTHER PERSON AND SHALL CONTAIN THE
STATEMENTS REQUIRED BY PARAGRAPH (2) OF SUBSECTION (A) OF THIS
SECTION.

(C) UNLESS WRITTEN ACCEPTANCE OF AN OFFER MADE UNDER
SUBSECTION (A) OR (B) OF THIS SECTION IS FIRST DELIVERED TO THE
OWNER BY THE TENANT. THE OFFER SHALL TERMINATE, WITHOUT FURTHER
ACT, UPON THE EARLIER TO OCCUR OF:

(1) TERMINATION OF THE LEASE BY THE TENANT; OR

(2) 60 DAYS AFTER THE OFFER IS DELIVERED TO THE
TENANT.

(D) ACCEPTANCE OF AN OFFER BY A TENANT WHO MEETS THE

CRITERIA FOR AN EXTENDED LEASE UNDER § 5-6B-07 OF THIS SUBTITLE

SHALL BE CONTINGENT UPON THE TENANT NOT RECEIVING AN EXTENDED
LEASE.

(E) (1) EXCEPT AS PROVIDED IN PARAGRAPH (2) OF THIS
SUBSECTION, IF THE OFFER TERMINATES, THE OWNER MAY NOT OFFER TO
SELL THAT COOPERATIVE INTEREST AT A PRICE OR ON TERMS AND
CONDITIONS MORE FAVORABLE TO THE OFFEREE THAN THE PRICE, TERMS,
AND CONDITIONS OFFERED TO THE TENANT DURING THE 180-DAY PERIOD
FOLLOWING THE GIVING OF THE NOTICE REQUIRED BY § 5-6B-05 OF THIS
SUBTITLE.

(2) THE OWNER MAY REOFFER TO SELL THAT COOPERATIVE
INTEREST TO THE TENANT ON TERMS AND CONDITIONS MORE FAVORABLE TO
THE OFFEREE. AND IF THE OWNER DOES SO, THE OFFER SHALL SUPERSEDE
THE FIRST OFFER.

(F) WITHIN 75 DAYS AFTER THE GIVING OF THE NOTICE REQUIRED
BY § 5-6B-05 OF THIS SUBTITLE, THE DEVELOPER SHALL PROVIDE TO ANY
COUNTY, INCORPORATED MUNICIPALITY, OR HOUSING AGENCY WHICH HAS A
RIGHT TO PURCHASE COOPERATIVE INTERESTS IN THE RESIDENTIAL RENTAL
FACILITY UNDER § 5-6B-09 OF THIS SUBTITLE A LIST OF THE NAMES AND
UNITS OF ALL TENANTS WHO HAVE VALIDLY ACCEPTED OFFERS MADE UNDER
THIS SECTION WITHIN 60 DAYS OF THE GIVING OF THE NOTICE REQUIRED
BY § 5-6B-05 OF THIS SUBTITLE, EXCEPT THOSE OFFERS WHICH HAVE
TERMINATED BECAUSE OF THE GRANTING OF AN EXTENDED LEASE UNDER §
5-6B-01 OF THIS SUBTITLE.

(G) IF A MEMBERSHIP CERTIFICATE FOR A UNIT CONTAINS AN
AFFIDAVIT BY THE ISSUER OR TRANSFEROR THAT THE PROVISIONS OF THIS
SECTION HAVE BEEN FULFILLED, THEN THE HOLDER OR TRANSFEREE TAKES
TITLE TO THE UNIT FREE AND CLEAR OF ALL CLAIMS AND RIGHTS OF A
PERSON ARISING UNDER THIS SECTION.

(H)(1) IF THE HOUSEHOLD DOES NOT ACCEPT THE PURCHASE OFFER
MADE UNDER THIS SECTION, THE OWNER SHALL:

(I) IF THE HOUSEHOLD QUALIFIES AS TO INCOME
UNDER § 5-6B-07 OF THIS SUBTITLE, PAY THE HOUSEHOLD $375 WHEN THE