(a) First Right to Purchase Conferred. This Chapter 41B shall be construed to confer upon each Qualified Nonprofit a first right to purchase any Multi-Family Residential Building for Sale in the City. This first right to purchase shall consist of both a right of first offer, as set forth in Section 41B.6, and a right of first refusal, as set forth in Section 41B.7.
(b) Confidential Information Protected. With the exception of the notice to Sell a Building under Section 41B.6(b), any information obtained from a Seller by a Qualified Nonprofit under this Chapter 41B—including, but not limited to, disclosures made under Section 41B.6(c) and (e), and terms and conditions of an offer of Sale made under Section 41B.7(b)—shall be kept confidential to the extent required by law, except that a Qualified Nonprofit may, if otherwise permitted by law, share such information with other Qualified Nonprofits to facilitate Qualified Nonprofits’ exercise of the rights conferred by this Chapter. Nothing in this Chapter permits or requires the disclosure of information where such disclosure is otherwise prohibited by law.
(c) Preexisting Rights Unaffected. This Chapter 41B shall not be construed to impair any contract, or affect any property interest held by anyone other than the Seller of a Multi-Family Residential Building (including, but not limited to, any interest held under a mortgage, deed of trust, or other security interest; any option to purchase; or any right of first offer or right of first refusal), in existence before the effective date of this Chapter.
(d) Notice of Default. All owners of a Multifamily Residential Building shall provide written notice to each Qualified Nonprofit and the Agency of a non-judicial foreclosure or a judicial foreclosure related to an owner’s Multifamily Residential Building. Within two business days of receipt of any of the following documents, an owner of a Multifamily Residential Building shall deliver to each Qualified Nonprofit and the Agency, via e-mail, a copy of:
(1) a notice of default related to such Multifamily Residential Building under California Civil Code Section 2924b(b), or successor provision;
(2) a civil complaint filed in superior court of a judicial foreclosure action related to such Multifamily Residential Building under the California Code of Civil Procedure Sections 725a – 730.5, or successor provisions;
(3) a notice of sale related to such Multifamily Residential Building under California Civil Code Section 2924f(b)(4), or successor provision;
(4) a notice of levy related to such Multifamily Residential Building under the Code of Civil Procedure sections 699.540 and 700.015, or successor provisions;
(5) a notice of sale related to such Multifamily Residential Building under the Code of Civil Procedure section 701.540;
(6) any other notice of default or notice of sale related to a judicial foreclosure or a non-judicial foreclosure of such Multifamily Residential Building under California law.