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201106264
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Last modified
9/14/2011 12:35:29 PM
Creation date
8/23/2011 8:45:14 AM
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DEEDS
Inst Number
201106264
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�o�ios�s4 <br />(a} the estimated cost (or final cost, if applicable) of the acquisition, <br />construction and rehabilitation of the Project will be equal to or in excess of the amount <br />set forth on the Summary Page; <br />(b) that the Project constitutes and will constitute "residential rental property," <br />as defined in Section 42 of the Code and the Regulations, the Dwelling Units of which <br />will be rented or available for rental on a continuous basis to memhers of the general <br />public; <br />(c) if the Owner becomes aware of any situation, event or condition which <br />would result in noncompliance of a Dwelling Unit, the Project or the Owner with <br />Section 42 of the Code or the Regulations, the C?wner shall promptly give written notice <br />thereof to the Authority; <br />(d) that all of the Dwelling Units will be similarly constructed and that each <br />Dwelling Unit in the Project shall contain sepazate and complete facilities for living, <br />sleeping, eating, cooking and sanitation for a single person or a family (unless the Project <br />qua.lifies as a single-room occupancy project or as transitional housing for the homeless <br />pursuant to Section 42(i)(3) of the Code); <br />(e) that each building in the Praject will remain suitable for occupancy taking <br />into account all federal, state and local health, safety, and building codes (or other <br />habitability standards); <br />( fl that none of the Dwelling Units in the Project shall at any time be utilized <br />on a transient basis (unless the Project qualifies as a single-room occupancy project or <br />transitional housing for the homeless pursuant to Section 42(i}(3) of the Code); that none <br />of the Dwelling Units in the project shall be leased or rented for a period of less than six <br />months (unless the Project qua.lifies as a single-room occupancy project or transitional <br />housing for the homeless pursuant to Section 42(i)(3) of the Code); and that neither the <br />Projec# nor any portion thereof shall he used as a hotel, motel, dormitory, fraternity <br />house, sorority house, rooming house, hospital, sanitarium, nursing home, rest home, <br />trailer park, trailer court, mobile home park, or recreational vehicle park or by a <br />cooperative housing corporation (as defined in Section 216(b){1) of the Code); <br />(g) that once available for occupancy each Dwelling Unit in the Project must <br />be rented or available for rental on a continuous basis to members of the general public <br />on a non-transient basis (except for transitional housing for the homeless or single-roorn <br />occupancy units provided under Section 42(i)(3)(B)(iii) and (iv) of the Code) for the <br />Qualified Project Period; <br />(h) that the Dwelling Units in the Project sha11 be leased and rented to <br />members of the general public in compliance with the Code and this Agreement, except <br />far any units rented under the housing program pursuant to Section 8 of the United States <br />Housing Act of 1937, as amended, which will be leased. to eligible tenants in accordance <br />with the constraints and regulations of such housing program; <br />aaao-oosa-99a9.i <br />
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