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201703497
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Last modified
7/3/2017 5:40:27 PM
Creation date
5/25/2017 3:54:08 PM
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DEEDS
Inst Number
201703497
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201703497 <br /> Attachment 1 <br /> substantiating evidence and within a reasonable time <br /> shall approve or deny such request. <br /> 13. Owner shall maintain the premises and equipment, <br /> appurtenant thereto, in good repair and condition. <br /> 14 . The books and accounts of the operations of the <br /> property and of the project shall be kept in <br /> accordance with the relevant HUD requirements <br /> related to the Section 202 and 202/8 program. <br /> 15. Within ninety (90) days following the end of each <br /> fiscal year, Owner shall provide a complete annual <br /> financial report based upon an examination of the <br /> books and records of the project prepared in <br /> accordance with the requirements of HUD and certified <br /> by a Certified Public Accountant, or other person <br /> acceptable to HUD. <br /> 16. Owner further covenants and agrees that if Owner <br /> conveys title to the project prior to the Use <br /> Agreement' s expiration, Owner will prior to transfer <br /> of title: (1) confirm the purchaser has been <br /> approved by HUD and (2) require the purchaser to <br /> assume the obligations of this Use Agreement. <br /> 17 . Owner shall provide to HUD (or to such third party as <br /> HUD may, in its sole discretion, determine to have <br /> the monitoring function under this Agreement) , <br /> promptly following receipt of a written request from <br /> HUD (or from such third party) , copies of all <br /> business or any other documents regarding the <br /> Housing Project, so that HUD may evaluate Owner' s <br /> compliance with the terms of this Agreement. In <br /> addition, Owner shall permit representatives of HUD <br /> (or any third party given the monitoring <br /> responsibility) following notice from the HUD (or <br /> from the third party) , to examine the originals of <br /> all such documents, at the Project' s office during <br /> regular business hours . <br /> 18 . Owner must certify annually by April 30 of each <br /> year (insert date within 30 calendar days of the <br /> anniversary date of this Agreement) , to the local HUD <br /> field office, or such other location as determined by <br /> HUD, that it is operating the Project in compliance <br /> with this Agreement and, more specifically, that all <br /> 5 <br />
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