12 Guam Code Ann. § 5412
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Terms Used In 12 Guam Code Ann. § 5412
- Contract: A legal written agreement that becomes binding when signed.
Effective March 1, 2000, the Authority may, notwithstanding any law, rule or regulation to the contrary, develop affordable housing within the As-Tumbo Subdivision on any lot that has not yet been conveyed to a buyer in accordance with the provisions of this Article, including:
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12 Guam Code Ann. AUTONOMOUS AGENCIES
CH. 5 GUAM HOUSING AND URBAN RENEWAL AUTHORITY
(a) lots that have been assigned to an applicant, but for which the applicant has not entered into a contract of sale with the Authority; and
(b) lots that are subject to a contract of sale, where the buyer has defaulted on the contract or breached a provision thereof, or where the contract has been rescinded, cancelled or otherwise terminated.
SOURCE: Added by P.L. 25-129:4.