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services which may be furnished by the Owners or others ro such tenant upon his/her rcyuest, in addition to_ the facilities and services included in the approval rectal schedule. (c} The Secretary wil! at any tints entertain a written request for a rent increase properly supported by substanteating evidence and within a reasonable time shall: (i} Approve a rental schedule that *.s necessary to compensate for any net increase, cccurring since the last ap- proved rental schedule, in taxes /other than income taxes) and operating and maintenance cast aver which Owrtershaverr>effectivs control: or (ii} I?sny the increase stating the reawns therefor. S. (a} T'hs criteria governing eligibility of tenants for admission to Section 8 units arid the conditions of continued accu• panty shy be in accordance with the housing Assistance Payments Contract. ~ (b} The maximum rent for each Section 8 unit is stated in the Housing Assistance Payments Contract and adjustments ~ in such renu shall be made in accordance with the terms of the Housing Assistance Payments Contract. ,,,, (c} Nothing contained .herein shall be construed to relieve the Owners of any obligations under the Housing Assistance Payments Contract. f'e b. (a} If the mortgage is originally aSecretary-held purchase money mortgage, ar is originally endorsed for insurance under any Se;,tion other than Section 231, Owners shall not ir. selecting tenants discriminate against any perm or persons by reason of the fact that there are children in the family. In the event the mortgage is insured under Section 231, Owners will give preference or priority of opportunity to occupy its dwelling accommodations taelderly persons and handicapped persons as defined in the HEN Regulations. (b} 3f ihs mortgage is originaAy endorsed far insurance under Section 22T, Owners shall in selecting tenants give to other- wise eligible displaced persons or families an absolute preference ar priority of occupancy which shall be accromplfshed as follows: - (I} Far a period of sixty{b0} days from the date of original offering, unless a shorter period of time is approved in writing by the Secretary, all units shall bs held for such preferred applicants, after whisk-time any unrsstt~ units may be rent<_d io non-preferred applicants; and (2} Thereafter, and on a continuing basis, such preferred applicants sha31 be given preference over non-preferred applicants in their placement an a waiting list to be maintained by $te Owners; and (3} Notwishstanding the grnvisians of paragraphs (i}and (2}, for 30g of the Section 8 units; the Sectiatt 221 or Section 233 accupsncy preference shall be accorded only to those individuals qualifying a> very low inr^.~, as speeiftert n the Housing Assistance Payments Contract. (c} Without the prior written approval of the Secretary not mate than 2S~o of tlrs number of trrtits itt a project insured under Section 233 shall be occupied by persons other than elderly persons. (d} Ali advertising ar efforts to rent a protect insured under Section 231 shall reflect a bona tzde effort of rite Owners eo obtain occupancy by elderly persons. 7. Pdonprofit Qwners agree that no dividends of any nature whatsoever will be paid on the capital stock issued by the corptr ration. 8. Owners sltaL net without the prior w~:tten approval of fl~~ secretary: (a} Canvey, transfer, or encumber any of the mortgaged property, ar permit the conveyance, #ransfer; ar encumbrance ofsueh property. (h} Assign, transfer,, dispose of, Gr encumber any personae property of the project, including rents, or pay out any funds .except from surplus cash, except for reasonable operating expe~tses and necessary repairs. (c} Convey, assign, of transfer aay beneficial interest in any trust holding title to the property, or any right to manage or receive the rents and pmGu from the mortgaged property. (d} Rernodel, add to, reconstruct, or demolish any part of the mortgaged property or subtract from any real or personal pra~try of tits project. {e} Isfake; or recaaitrs and retain, any distribution of assets or any income of any kind of the project except surplus cash end except on tl-xe following x~nditians: (I}- All diszritru#ions shall be macs aniy as of and after the attd of a semiannual or anniial Ftseel period, and only as perttiitted ley -the- Iow- of the apglicable jurisdiction; and,: in the-case of 2 ?invited distritiutfon mortgagor, all distributions in-env one fisc8t yeai shall be iimiteil to-six.. per sentutit on the -initial equity investmsnt, as de- teitriisied try Eke Secretary whicit:shall ~ stimulative; {2} No disttitttttion.ehall lee roads-Pram borrowed ftmds, prior to the completion of the project or when there is . any default under this AgreeistsnE irr tander ttte note ar tttariga~; -- 2 - HUO-93865 f6-77)