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200702327
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Last modified
3/26/2007 3:46:30 PM
Creation date
3/26/2007 3:46:28 PM
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DEEDS
Inst Number
200702327
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<br />200702327 <br /> <br />4 <br /> <br />efforts to do so, the Owner is unable either (I) to rent a sufficient percentage of <br />Units to Low Income Tenants or Very Low Income Tenants in order to satisty the <br />Affordabihty Requirement, or (2) to otherwise provide for the financial viability of <br />the Project, HUD may, in its sole discretion, agree to reduce the percentage of Units <br />subject to the Affordability Requirement or otherwise modify the Affordability <br />Requirement in a manner acceptable to the Owner and HUD. Any such <br />modification of the Affordability Requirement shall be evidenced by a written <br />amendment to this Agreement executed by each of the parties hereto. <br /> <br />6. Displacement Prohibition. The Owner agrees not to refuse to lease a dwelling <br />unit offered for rent, or otherwise discriminate in the terms of tenancy, solely because any <br />tenant or prospective tenant is the holder of a Certificate or a Voucher under Section 8 of <br />the United States Housing Act of 1937 (42 U.S.c. 1437f), or any successor legislation <br />(hereinafter referred to as "Section 8"). <br /> <br />7. Determination of Tenant Income. The initial determination of whether an <br />individual or family qualifies as a Very Low Income Tenant or a Low Income Tenant shall <br />be made no more than ninety (90) days prior to the date that the tenancy is commenced. <br />Subsequent determinations shall be made once annually thereafter (hereafter <br />"recertifications") as specified below, and on the basis of the then current income of the <br />resident. For recertification purposes, each tenant's Income Certification shall be fully <br />executed and dated no more than ninety (90) calendar days prior to the date of each <br />anniversary of the date that the tenancy had commenced. The Owner shall obtain, and <br />maintain on file for a period of not less than three (3) years following the Owner's receipt <br />thereof, an executed original Tenant's Initial Income Certification and subsequent Income <br />Recertifications, in the form attached hereto as Fxhihit R, or such other form as may be <br />prescribed or approved by the Secretary, for each Very Low Income Tenant and each Low <br />Income Tenant. <br /> <br />8. Character of Units. Any Unit occupied by an individual or a family qualitying <br />as a Very Low Income Tenant or a Low Income Tenant shall continue to be treated as if <br />occupied by a Very Low Income Tenant or a Low Income Tenant, as applicable, even <br />though such individual or family subsequently ceases to be of very low or low income so <br />long as the income of such individual or family does not exceed 140% of the income <br />limitation applicable under the Affordability Requirement and such Unit remains Rent- <br />Restricted. If a Unit is no longer occupied by an individual or family that qualifies as a <br />Very Low Income Tenant or a Low Income Tenant, such Unit shall be treated as occupied <br />by a Very Low Income Tenant or a Low Income Tenant, as applicable, until reoccupied, at <br />which time the character of the Unit shall be redetermined; provided, however, that such <br />Unit shall not be treated as reoccupied for such purpose if it is occupied for one (1) <br />temporary period of not more than 31 days. All Units leased to Very Low Income Tenants <br /> <br />M2M Use Agmt 09-15-04 <br />
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