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201303288
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201303288
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Last modified
12/31/2013 2:56:59 PM
Creation date
4/29/2013 12:38:37 PM
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DEEDS
Inst Number
201303288
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201303288 <br /> 3. In the event of a breach or a threatened breach of any of the above <br /> covenants and agreements by the Owner, HUD and/or any tenant as <br /> a third-party beneficiary shall be entitled to institute legal action to <br /> enforce performance and observance of such covenants and <br /> agreements and to enjoin any acts which violate such covenants and <br /> agreements. HUD and/or any tenant as a third-party beneficiary may <br /> also seek an award of damages and/or other relief as may be <br /> appropriate. <br /> 4. Owner shall not impede the reasonable efforts of tenants to organize <br /> pursuant to 24 CFR Part 245, or any successor regulations of Part 245, <br /> or unreasonably withhold the use of any community room or other <br /> available space appropriate for meetings which is part of the <br /> mortgaged property when requested by: (i) a resident tenant <br /> organization in connection with the representational purposes of the <br /> organization; or (ii) tenants seeking to organize or to consider <br /> collectively any matter pertaining to the operation of the mortgaged <br /> property. <br /> 5 . Owner, for itself, its successors and assigns, hereby agrees and <br /> acknowledges that this Use Agreement shall be recorded in the <br /> appropriate land records. <br /> 6. Consistent with the tenancy eligibility requirements, if any, of the <br /> original Section 202 Direct Loan agreement, Owner will accept all <br /> forms of HUD rental assistance when offered for units that do not have <br /> section 8 or any other HUD rental assistance for the life of the Use <br /> Agreement. <br /> 7. Upon execution of the refinancing for the project, as approved by <br /> HUD, Owner must use the proceeds that result from the refinancing in <br /> a manner that is advantageous to the tenants of the project. Or, <br /> Owner must use the proceeds in the provision of affordable rental <br /> housing and related social services of elderly persons that are tenants <br /> of the project or are tenants of other HUD assisted senior housing by <br /> the nonprofit owner, private nonprofit project sponsor or private <br /> nonprofit organization project developer. The following are examples <br /> of allowable uses of the proceeds pursuant to AHEO: <br /> (a) for up to 15 percent of the cost of increasing the availability or <br /> provision of supportive services, which may include the financing <br /> of service coordinators and congregate services. HUD may waive <br /> the 15 percent limitation, as necessary, to better enable seniors to <br /> age in place, if a waiver is sought by a nonprofit owner, sponsor or <br /> organization; <br /> (b) rehabilitation, modernization, or retrofitting of structures, common <br /> areas, or individual dwelling units, including reducing the number <br /> of units by reconfiguring units that are functionally obsolete, <br />
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