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<br /> � `°� (d) There is no action, suit or pt�oceeding at law or in equity ar by or before
<br /> � ' any governro�.ental instrumentality or�thar sgenay now pendiag or, ta the knowledge of
<br /> the Owner,threateneci aga�nst or affecting i�or any of its properties or ri�hts,which,if
<br /> -�.� adversely detetmined,would materlally impair fta r�ght to carry on business substantially _.
<br />-:. . _ as now conducted (and as contemplatec3 by this Agreement) or would materially E;
<br />:�;;:,:;r� .�:,�"�� adversely a�ect its Snancisl condirion. _
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<br /> ,...ltt� 13
<br />=;:�;;,�-����'���'� Sectton 3. ResldenHal Aenta!Pro,��et. Th�Q�iner hereby agrees that the Project is to _
<br /> '"• be developed, owaed, managed and operated for ths Qualified Project Pedod as `Yesidential _
<br /> � . ? � rental property," as such pbrase is used in 5�crian 42{d) of the Code�aa a conrinuous basis
<br /> ; - during the Qualified Pm}ect Feriod. To tliat enc� taa Owncr hereby represent�, covenar►ts, �
<br /> � warrants and agrees as follows:
<br /> �� (a) the eatlmuted cost (or final cost� If applicable) of the acquisitton, .
<br /> ' construction and rehabilitation of the Projcct w�ll be equsl to or in axeess of the amount -
<br />• aet forth on tDie Summary Page;
<br /> r.
<br /> " � (b) that the Project constitutes aad wil.l constitute"r�sIdential rental pmperty�"
<br /> as defaned i�Section 42 of the Code and the Regulations.the re�atal units of which will be
<br />=��:�;,;:� � rented or available for rental on a contanuvua b�ais to membera of the general public;
<br /> � i��=� � � (c) if the Owner becomes awar�e o£any situation, event or condition wlrich -
<br />::�;���.:���^ would result in noncompliance of a Dev�lUng Unit, tha Project or the Owner with
<br />:_;`:�i'. ' Section 42 of the Code or the Regulations,th�Owner shall promptly giva written notice
<br />-'��z:� ;�rl, thereaf to the Autharlty;
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<br /> ,.r��.:r �' . (dj tflat aiI af tae Y3victi�Uni�wuI�,e si�ita:ty ..anst�uctttt�t3 th�t�c.'t =
<br /> ;:�--..;_"e�.-- ' . �Dwelling Unit in the Pmject sf�9 �oa�t,a�n separate and completa facilities for living,
<br />��.`��°'�° � sleepi�ag,eating,cooldng and sanie�on for a single person or a fainily(unless the Project
<br />--_ �:�����
<br />-_$-�Y•��°-� qaalifies as a singie-raom occupancy project or as transitional housing for the homeless
<br /> -—.: IiT;
<br /> �����>• �� ` pursuaat to Section ax(i)(3)of the Code);
<br /> ��� :*;
<br />`:�'�;�'� (e) thnt eaah�byilding in tha pmje�t wiU remain suitable for occupancy taking
<br /> +_G::�.,:es:. '
<br />- "'-����=-�'��y� into accouat local h�aal�a,safetY.aad buildin$c�des;
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<br /> - _�-�� . � (fl that none of the DweUing Units in the Project shall at any time be utilized
<br /> ----- '� . on a tcansient basis (unless th��,ject qualifies as a single-room occupancy pmject or •
<br /> ___-- -- � � traasitional housing�r the homeless pursuant-to Section 4�)(3)of the Code);that none
<br /> _. -=- -e of tlie Dwolling Unita in teie p�j�ct shatl"be teased or rented for a periai cf Iess tnan six _ �
<br /> --==--- � � montbs; (unless thg Pm}ect qualifies as a s�ngIe-roam occupancy pmjeet or transitional
<br /> - -��� . ' housing for the homeless pursuaut to Section 42(I)(3)of the Code) and that neither the
<br /> �:���:�� -�°���� Project nor any�portion thereof ahall be used as a hotel, mvtel, dormiWry, fraternity
<br /> ��:.����.
<br /> - - house, sorority�houae, raoming house� hospital, sanitarium, nursing home, rest home,
<br /> ���'Y�� trailer park, trailer court, mobile home p�k, or reoreatioaal ve}�icle park or by a
<br /> —�__;�_� � : cooperative housing corporation(as defined in secdon 216(b)(1)of the Code); .
<br /> =_----,�•_�;� �, . . .
<br /> -._-�~=.YYY��i�
<br /> __�._w.�y��� (g) that oace available for occupancy each Da►elliag Unit in the Project muat
<br />-�=_`-�� be rented or availablc for rental on a continuous basis to membere of the general public
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