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case of an already existing cluster home, the purchase agreement
required a deposit of 15 percent of the purchase price upon
execution of such agreement and the balance at closing. If the
cluster home were to be constructed, the initial deposit was 20
percent of the purchase price upon execution of the agreement, 40
percent within 5 days after notification that the house package
had arrived at the construction site, and the balance at closing.
Cluster home owners were responsible for payment of real
estate taxes on the cluster home and were billed by Buncombe
County individually for those taxes. Cluster home owners were
responsible for maintaining homeowners' insurance on their units
and were individually billed by their homeowners' insurance
company for the same. Cluster home owners were also responsible
for payment of their utilities as billed to them individually by
the utility companies. Petitioner was responsible for
maintaining the lawns, driveways, exteriors of the structures,
and major repairs to appliances and their replacement.
In the event of total destruction of the cluster home,6 the
cluster home reverted back to petitioner, and the owner was
entitled to keep the proceeds of the insurance policy. If the
destruction was only partial, the owner had the option to repair
the home or resell it to petitioner in its damaged condition.
Under the latter option, the repurchase price would be reduced by
the cost of restoring the home.
The purchase agreement placed the following restrictions on
6 Total destruction was defined as destruction of over 70
percent of the cluster home.
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Last modified: May 25, 2011