(a) A landowner desiring to terminate a tenancy with a homeowner based on the discontinuation
of the use of the leased land as leased land (and not for cause) shall provide the
affected homeowner(s) with at least fifteen (15) months' notice thereof.
(b) In the event of a termination of a tenancy (or a failure to renew a tenancy) with
a homeowner without cause as provided in subsection (a) of this section, or in the
event of a termination (or a failure to renew a tenancy) for cause, the landowner
shall take reasonable steps to take control of any residential dwelling remaining
on the leased land following said termination, and shall, upon at least ninety (90)
days of said advertising sell the dwelling pursuant to commercially reasonable terms. The proceeds of such sale shall be applied as follows:
(1) First, to satisfy any federal, state or local liens on the dwelling;
(2) Second, to cover the fair and reasonable costs incurred by the landowner to secure
the dwelling and accomplish its sale;
(3) Third, to satisfy any arrearages for unpaid rent or other costs remaining due
under the tenancy;
(4) Fourth, to satisfy any mortgage or other liens on the property; then
(5) The balance shall be remitted to the homeowner.
(c) During the aforesaid ninety (90) day notice period, the homeowner may avert the
advertising and sale of the dwelling by the landowner as aforesaid, by satisfying
any arrearages for unpaid rent or other costs remaining due under the tenancy, and
causing the dwelling to be removed from the formerly leased land, by sale or otherwise.
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