"I hereby affirm under the penalty of perjury that the notice requirements of § 5-6B-05 of the Corporations and Associations Article, if applicable, have been fulfilled. |
Developer |
By................................................................................." |
"NOTICE OF INTENTION TO CREATE A COOPERATIVE HOUSING CORPORATION
.................................................. (date)
This is to inform you that the residential rental facility known as .................... has been or may be acquired by a cooperative housing corporation or that the current owner of the residential rental facility has or may become a cooperative housing corporation in accordance with the Maryland Cooperative Housing Corporation Act. You may be required to move out of your residence after 180 days have passed from the date of this notice, or in other words, after ........................... (date).
Section 1 Rights that Apply to All Tenants
If you are a tenant in this residential rental facility and you have not already given notice that you intend to move, you have the following rights, provided you have previously paid your rent and continue to pay your rent and abide by the other terms and conditions of your lease.
Section 2 Right to 3-Year Lease Extension or 3-Month Rent Payment for Certain Handicapped Citizens and Senior Citizens
The developer who converts this residential rental facility to a cooperative housing corporation must offer extended leases to qualified households for up to 20 percent of the units in the residential rental facility. Households which receive extended leases will have the right to continue renting their residences for at least 3 years from the date of this notice. A household may cancel an extended lease by giving 3 months' written notice if more than 1 year remains on the lease, and 1 month's written notice if 1 year or less remains on the lease.
Rents under these extended leases may be increased only once each year and are limited by increases in the cost of living index. Read the enclosed lease to learn the additional rights and responsibilities of tenants under extended leases.
In determining whether your household qualifies for an extended lease, the following definitions apply:
To qualify for an extended lease you must meet all of the following criteria:
If you meet all of these qualifications and you desire an extended lease, then you must complete the enclosed form and execute the enclosed lease and return the completed form and executed lease to the office listed below within 60 days after the date of this notice, or in other words, by ............ (date). If your completed form and executed lease are not received within that time, you will not be entitled to an extended lease.
If the number of qualified households requesting extended leases exceeds the 20 percent limitation, the extended leases shall be allocated as determined by the local governing body. If the local governing body fails to provide for allocation, units shall be allocated by the developer based on seniority by continuous length of residence.
Due to the 20 percent limitation your application for an extended lease must be processed before your lease becomes effective. Your lease will become effective if it is determined that your household is qualified and falls within the 20 percent limitation.
If you return the enclosed form and lease by ..........(date), you will be notified within 75 days after the date of this notice, or in other words, by ..............(date), whether you are qualified and whether your household falls within the 20 percent limitation.
You may apply for an extended lease and, at the same time, choose to purchase a cooperative interest. If you apply for and receive an extended lease, your contract will be void. If you do not receive an extended lease, your contract will be effective and you will be obligated to purchase a cooperative interest.
If you qualify for an extended lease, but due to the 20 percent limitation, your lease is not effective, the developer must pay you an amount equal to 3 months' rent within 15 days after you move. You are also entitled to up to $750 reimbursement for your moving expenses, as described in Section 1.
If you qualify for an extended lease, but do not want one, you are also entitled to both the moving expense reimbursement previously described and the payment equal to 3 months' rent. In order to receive the 3 months' rent payment, you must complete and return the enclosed form within 60 days after the date of this notice or by ............ (date), but you should not execute the enclosed lease.
All applications, forms, executed leases, and moving expense requests should be addressed or delivered to: .....................................................................................................................................................................................................................
Md. Code, CA § 5-6B-05