Affordable Residential Rental Units for Seniors Sample Clauses

Affordable Residential Rental Units for Seniors. Lessee shall design, construct, operate and maintain Residential Rental Units, in the number and of the type described below, for persons 62 years of age or older who meet the following income qualifications associated with said Residential Rental Units: Total: 156 residential units, of which 1 unit is a non-revenue Unit and 155 are Residential Rental Units. Monthly Rent for the Residential Rental Units shall not exceed Affordable Rent, as set forth herein. Lessee may, from time to time and with the approval of the Lessor, rent the Residential Rental Units to persons who are 55 years of age or older and who meet the income qualifications associated with said Residential Rental Units if the Lessee is unable to rent any of the Residential Rental Units to persons who are 62 years of age or older after applying commercially reasonable marketing and leasing efforts described in the rental program approved by the Lessor, as set forth in Section 18.1.2(e).
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