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<br /> (d) There is no action. suit or proceedjng at law or in equ3ry or by or before any
<br /> gavernmental instrumentality or other agency now pendin8 or, to the knowledge of the Owner,
<br /> threatened against or affect�ng it,or any of its properties or rights. whicli, if adversely detcrmincd� �
<br /> would materlally Irnpa�r its right to caxry on business substantially as now conciucted (and as
<br /> contemplated by this Agnement)or would materlally adversely affect its financIal condition.
<br /> Sectlon 3. Resldenttal Rentat Aroftct. The Owner hereby agrces that the Project is to be developed�
<br /> owned, managed and�peraud for the Qusl�ed Project Perlod as "resldential rental pmperty," as such phrase
<br /> is used in Sectton 42(d)of the Code,an a continuous basis during the Qualified Project Pedod. To that end,
<br /> the Owner hereby npresents, covenants,warrants and agrees as follows:
<br /> (a) the esdmatecl eost (or final cost� if applicable) of the acquisidon, constructlon and
<br /> rehabilitatlon of the Proj�ct wlll be equal to or in excess of the amount set forth on tl�Summary Page;
<br /> (b) that the Project constiwtes and will coastitute "residential rental groperty," as defintd in
<br /> Section 42 of the Code and the Reguladons, the rental units of which will be rented or available for
<br /> rental on a co�tinuous basis to mernbars of the general public;
<br /> (c) if the Owner becomes aware of any situatlon, event or condidon which would result in
<br /> noncompliance of a Dwelling Unit, the Project ar the Owner with Section 42 of the Code or the
<br /> Re$ulations,the Owner shall prompdy gtve written notice thereof to the Authority;
<br /> (�j tt;at �31 af it:�D:�ett:ng Usiii;�:�i�l be sim�arly cnncm�cted and that each Dwelling Unit
<br /> in the Proj�tt shall contain separate and complete facilitles for living, sleeping, eating, cooking and
<br /> sanitation for a single person or a family(unless the Project qualifies as a single-room occupancy projxt
<br /> or as transi�onal housing for the homeless pursuant to Section 42(i)(3)of the Code);
<br /> (e) that each buildiag in.the project will remain suitable for occupancy taking into account
<br /> local health,safety,aad building codes;
<br /> (� that none of tl�e Dwelling Units in tbe Project shall at any time be utiliud on a tc�aa�ic�
<br /> basis (unless the Pmject qualifies as a sin$le-room occupancy project or transitional housing for the
<br /> uomeless pursuant to S�ecrion 42(i)(3)of ttie Cade);that none of the Dwelling Units ia the pmject shail,
<br /> be kased or rented for a period of less than six months; and that neither the Project nor any portion
<br /> thenof shall be used as a hotel,motel, dormitory, fraternity house, sororlry house, rooming house,
<br /> hospitai, sanitariurn, nursing home, rest home, trailer park, trailer court, mobile home padc, or
<br /> recreational vehicle park or by a cooperative housing corporarion(as deflned in section 216(b)(1)of the
<br /> Code);
<br /> (g) that once available for occupancy each Dwelling Usut in the Project must be rented or
<br /> available for rental on a continuous basis to members of the general public on a non-transient basis
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