Whenever, in any district, an owner-occupied residence is damaged or destroyed by any means, the owner may repair or replace the structure, provided it remains as a residence of the owner occupant. All repairs or reconstruction may comply with existing building codes and regulations. If the owner occupant determines not to rebuild or repair, but to sell the property in question, then all new buildings or structures must conform with all regulations, including use regulations, of the district in which it is located.