SEC. 1399.15 INTENT TO PURCHASE FORM.

(a) An "Intent to Purchase" form required to establish majority tenant participation for a conversion under this Article shall be in the following form, in 12 point type or larger:

Intent to Purchase

The undersigned states that:

1. I reside at ____________, Unit ____________ and I have received a Conversion Notice dated ____________ from ____________. By signing below, I indicate my intent to purchase a Member Share upon its authorized

conversion from a rental unit to a limited equity housing cooperative in accordance with the purchase price formula stated on the Conversion Notice.

2. I represent and warrant that the above referenced address is my sole place of residence.

3. I represent and warrant that the following are the names of all adults over the age of 18 that are presently residing in my unit, whether or not they have signed this Intent to Purchase:

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4. I understand that any adult person who lives in my unit with me, who does not purchase a Member Share with me has a right to remain in the unit under a lifetime lease once I become the owner of a Member Share with the right to occupy the unit.

5. I understand that I have 20 days from the date of this Intent to Purchase to provide sufficient income documentation to the Mayor's Office of Housing in order to obtain a Certificate of Income Verification. The Mayor's Office of Housing will have 7 days to provide me with a Certificate after receipt of all required documentation. If I do not provide a copy of the Income Certificate to the Subdivider within 30 days of the date of the Conversion Notice, this Intent to Purchase will be deemed withdrawn.

6. I understand that if I purchase a Member Share, it will be subject to resale price restrictions to keep it affordable to future buyers.

7. I understand that signing this Intent to Purchase does not create a contractual obligation to purchase a Member Share. However, as of this date, it is my intention to purchase a Member Share when it is authorized for conversion and made available for sale.

8. I understand that this Intent to Purchase will be filed with the City and County of San Francisco in order to establish that the building qualifies for conversion, and that my signed Intent to Purchase is irrevocable for establishing that purpose unless my signature was obtained by fraud or duress.

9. I have been advised that I have a right to seek legal counsel or other professional assistance in connection with my rights to purchase and have either obtained such assistance or have waived my right to do so. I/We declare, under penalty of perjury, that the foregoing statements are true and correct.

(Added by Ord. 319-08, File No. 081513, App. 12/19/2008)