Casualty; Demolition; Change of Use. (a) The Developer represents, warrants, and agrees that if the Project, or any part thereof, shall be damaged or destroyed or shall be condemned or acquired for public use, the Developer (subject to the approval of the lender(s) which has provided financing) will use its best efforts to repair and restore the Project to substantially the same condition as existed prior to the event causing such damage or destruction, or to relieve the condemnation, and thereafter to operate the Project in accordance with this Agreement. (b) The Developer shall not, without prior written approval of DHCD and the Municipality and an amendment to this Agreement, change the type or number of Low and Moderate Income Units. The Developer shall not demolish any part of the Project or substantially subtract from any real or personal property of the Project, or permit the use of the dwelling accommodations of the Project for any purpose except residences and any other uses permitted by the applicable zoning then in effect;
Appears in 8 contracts
Samples: Regulatory Agreement and Declaration of Restrictive Covenants, Land Disposition Agreement, Regulatory Agreement and Declaration of Restrictive Covenants
Casualty; Demolition; Change of Use. (a) The Developer represents, warrants, and agrees that if the Project, or any part thereof, shall be damaged or destroyed or shall be condemned or acquired for public use, the Developer (subject to the approval of the lender(s) which has provided financing) will use its best efforts to repair and restore the Project to substantially the same condition as existed prior to the event causing such damage or destruction, or to relieve the condemnation, and thereafter to operate the Project in accordance with this Agreement.
(b) The Developer shall not, without prior written approval of DHCD EOHLC and the Municipality and an amendment to this Agreement, change the type or number of Low Low- and Moderate Moderate-Income Units. The Developer shall not demolish any part of the Project or substantially subtract from any real or personal property of the Project, or permit the use of the dwelling accommodations of the Project for any purpose except residences and any other uses permitted by the applicable zoning then in effect;
Appears in 3 contracts
Samples: Regulatory Agreement and Declaration of Restrictive Covenants, Regulatory Agreement and Declaration of Restrictive Covenants, Regulatory Agreement and Declaration of Restrictive Covenants
