84005483 - Laserfiche WebLink

Browse

I 84 - 005483 - ~ . 3. Reel property covered by the mortgage and this Agreement is described in Schedule A aUeched hereto. 4. The Owners covenant and agree that: (c) On forms approved by the Commissioner they will obtein from each prospective tenant a certificlltiOll: of income prior to edmission to the project, and a recertification of income from each tenant et least every two years following the date of admission; (a) Admission to the project shell be limited tofamilies heving a low or moderate Income which does not exceed the limits established by the Commissioner and in effect et the time of admission; (b) Pre~erence or priority for admission to the project end for plecement on the waiting list, which Owners shall maintain, shall be extended 10 those families of low or moderate incomes who have certificates of eligibility as displaced families; (e) They shall require all tenants to execute a lease in the form prescribed by the CommissiOMf, and shall not rent any unit in the project for less than 30 days nor more than one yeer; (f) The rent charged for each unit shell not exceed the upper limit of the nulpl ._ for sMhtype.cf unit on the rental schedule approved in writing by the Commissioner, and shall incllll.'" :l;~ re880n.ble '.se of all utilities shown on said schedule, but in no event shall the total gtostllllOnthly rents for' aU dwelling units exceed the gross monthly dwelling income for all units approved by the Co_iSBi.oQ, the rental schedule; (g) No increase will be made in the amount of the gross monthly dwelllq inc:ome for allunitaus.... on the rental schedule unless such increase Is approved by the Commiasioner, who will at any ti_c en- tertain a written request for an increese properly supported by substantiating evidence and within a ..... sonable time shall: (1) Approve a rental schedule that is necessery to compellsate for IlIlY net increase, occurril\& ~ since the lest approved rental schedule, in taxes (other than income taxes) and operatillg and~ maintenance expenses over which Owners have no effective control, or (2) Deny the increase stating the reasons therefor; (h) If there are rent supplement units in the project, the determination es to the eligibility of tenants for admission to such units and the condit inns of continued occupancy shall be in IIccordance with the Rent Supplement Contract executed by the Owners and the Commissioner which is incorporated in end made a part of this Agreement; (i) They will rent commercial facilities, if any. at not less than the rental approved by the Commissioner; (j) In selecting tenants they shall not discriminate against any person or persons by reason of the fact that there are children In the family, 5. Upon prior written approval of theCommissionet.the Owners may charge to fU1d receive from any tenant such amounts as from time to tllne may be mutually agreed upon between the tenant and Owners for any facilities and/or services which may be furnished by the Owner or others to such tenant upon his request, in addition to the facilities and services included in the approved Rental Schedule. 6. Owners shall not without the prior written approval of the Commissioner: (a) Convey, transfer, or encumber any of the mortgaged property, or permit the conveyance, transfer or encumbrance of such property; (b) Assign, transfer. dispose of, or encumber any personal property of the project, including rents, or payout any funds, other than from surplus cash, except for reasonable operating expenses and necessary repairs; (c) Convey, assign, or Iransfer any beneticlal interest in any trust holding title to the mortgaged property, or the interest of any general partner in 8 partnership owning the mortgaged property, or any right to manage or receive the rents <lnd profits from the mortgaged property; {.d) R.~mv'del, o1dd h', t~(:onsttu('t, or demohsh any part of the mQrtgaged property Or ~ubtract from any real Of petstlll,.l propt::nV of tht' project~ (e} MO:ikC".I}l rt'\'i!l\' <'Ind H'ldln. an\, distribtHHHi 01 a~~t't~ Of ~n\ lnCOnH.' or an\ kipfi~t th~prpject t'xl:ept hom smplu<.. C,~~il ,mr! f'Xf ~pt LHl tht, !qlk'Wl !\f-~ ( "flth ~ 1\'0':"