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200512530
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Last modified
12/23/2005 1:53:10 PM
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12/23/2005 1:33:24 PM
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DEEDS
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200512530
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<br />200512530 <br /> <br />liability. In the case of a tenant receiving housing assistance payments under <br />Section 8, the documentation requirement of this subsection 4(d)(vii) is satisfied if <br />the public housing authority provides a statement to the Owner declaring that the <br />tenant's income does not exceed the applicable income limit under Code <br />Section 42(g); <br /> <br />(viii) the eligible basis and the Qualified Basis of the building at the end <br />ofthe first year ofthe Qualified Project Period; and <br /> <br />(ix) the character and use of the nonresidential portion of the building <br />included in the eligible basis of the building under Section 42(d) of the Code (e.g., <br />tenant facilities that are available on a comparable basis to all tenants and for <br />which no separate fee is charged for use of the facilities or facilities reasonably <br />required by the project); <br /> <br />(e) that the Authority shall have the right to perform an on-site inspection of <br />the Project throughout the Qualified Project Period, in addition to the requirement that the <br />Owner submit to the Authority each year information on tenant income, supporting <br />documentation and rent for each Qualified Unit as designated above; <br /> <br />(t) the form of lease to be used by the Owner in renting any units in the <br />Project to Qualified Tenants shall provide for termination of the lease and consent by <br />such person to immediate eviction proceedings in accordance with state law for failure to <br />qualify as a Qualified Tenant, as applicable, as a result of any material misrepresentation <br />made by such person with respect to his or her income, the failure to provide supporting <br />income verification or failure by such person to annually update the Certification of <br />T errant Eligibility and Income Verification; <br /> <br />(g) to permit any duly authorized representative of the Authority, the <br />Department of the Treasury or the IRS to inspect the books and records of the Owner <br />pertaining to the incomes of the Qualified Tenants residing in the Project; and <br /> <br />(h) throughout the Qualified Project Period, to target rents, to comply with <br />targeted rent levels and to comply all other conditions of targeting as set forth on the <br />Summary Page hereof <br /> <br />Section S. Term of Restrictions. <br /> <br />(a) The term of the Occupancy Restriction set forth in Section 4 of this <br />Agreement shall (i) commence on the Occupancy Date and (ii) end on the date which is <br />the Required Number of Years after the Occupancy Date. During the Required Number <br />of Years, the Owner shall not evict or terminate the tenancy of an existing tenant of any <br />Dwelling Unit other than for good cause and shall not increase the gross rent above the <br />maximum allowed under Section 42 of the Code with respect to such Dwelling Unit. <br /> <br />(b) Notwithstanding subsection (a) above, the Owner shall comply with the <br />requirements of Section 42(h) of the Code relating to a IS-year extended use period <br /> <br />KUlak Rock - Firm Library-4851-S12S.6832.1 <br /> <br />8 <br />
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