Common use of Annual Compliance Clause in Contracts

Annual Compliance. Borrower will submit to Lender on an annual basis evidence that the Mortgaged Property is in ongoing compliance with all income, occupancy and rent restrictions under the Regulatory Agreement. Such submissions to Lender will be made contemporaneously with the submission of reports to the Regulatory Agreement Agency as required under the Regulatory Agreement, if applicable.

Appears in 5 contracts

Samples: Multifamily Loan and Security Agreement (Strategic Student & Senior Housing Trust, Inc.), Multifamily Loan and Security Agreement (Strategic Student & Senior Housing Trust, Inc.), Multifamily Loan and Security Agreement (KBS Strategic Opportunity REIT II, Inc.)

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Annual Compliance. Borrower will submit to Funding Lender on an annual basis evidence that the Mortgaged Property is in ongoing compliance with all income, occupancy and rent restrictions under the Regulatory Agreement. Such submissions to Funding Lender will be made contemporaneously with the submission of reports to the Regulatory Agreement Agency as required under the Regulatory Agreement, if applicable.

Appears in 1 contract

Samples: Continuing Covenant Agreement

Annual Compliance. Borrower will submit to Lender on an annual basis basis, evidence that the Mortgaged Property is in ongoing compliance with all income, occupancy and rent restrictions under the Regulatory AgreementAgreement relating to the Mortgaged Property. Such submissions to Lender will be made contemporaneously with the submission of reports to the Regulatory Agreement Agency City and the Orange Tax Assessor as required under the Regulatory Agreement, if applicable.

Appears in 1 contract

Samples: Multifamily Open End Mortgage, Assignment of Rents and Security Agreement (Behringer Harvard Multifamily Reit I Inc)

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Annual Compliance. Borrower will submit to Lender on an annual basis basis, evidence that the Mortgaged Property is in ongoing compliance with all income, occupancy and rent restrictions under the Regulatory AgreementAgreement relating to the Mortgaged Property. Such submissions to Lender will be made contemporaneously with the submission of reports to the Regulatory Agreement Agency Housing Authority as required under the Regulatory Agreement, if applicable.

Appears in 1 contract

Samples: Multifamily Deed of Trust, Assignment of Rents and Security Agreement (Paladin Realty Income Properties Inc)

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