Borrower’s Responsibility to Establish Rental Rates. It shall be the responsibility of the Borrower and not the County Board or its designees to establish rents for the Income-Restricted Units in accordance with this Agreement and applicable HUD regulations. Borrower may seek approval of rents for Income-Restricted Units from the County Manager or his designee prior to establishing such rents in order to assure that they are not greater than the maximum rents allowed pursuant to this Agreement.
Appears in 9 contracts
Samples: Loan Agreement, Loan Agreement, Fund Loan Agreement
Borrower’s Responsibility to Establish Rental Rates. It shall be the responsibility of the Borrower and not the Arlington County Board or its designees staff to establish rents for the Income-Income- Restricted Units in accordance with this Agreement and applicable HUD regulations. Borrower may seek approval of rents for Income-Restricted Units from the Arlington County Manager or his designee Housing Division prior to establishing such rents in order to assure that they are not greater than the maximum rents allowed pursuant to this Agreement.
Appears in 2 contracts
Samples: Intercreditor and Subordination Agreement, Intercreditor and Subordination Agreement
Borrower’s Responsibility to Establish Rental Rates. It shall be the responsibility of the Borrower and not the County Board or its designees Staff to establish rents for the Income-Income- Restricted Units in accordance with this Agreement and applicable HUD regulationsAgreement. Borrower may seek approval of rents for Income-Restricted Units from the appropriate County Manager or his designee Staff prior to establishing such rents in order to assure that they are not greater than the maximum rents allowed pursuant to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Borrower’s Responsibility to Establish Rental Rates. It shall be the responsibility of the Borrower and not the County Board or its designees to establish rents for the Income-Restricted Units in accordance with this Agreement and applicable HUD regulations. Borrower may seek approval of rents for Income-Restricted Units from the County Manager or his her designee prior to establishing such rents in order to assure that they are not greater than the maximum rents allowed pursuant to this Agreement.
Appears in 1 contract
