Condition of Units. Up to the Time of Closing, all apartment units on the Property which become vacant shall be maintained in accordance with the Transferor Partnership's usual and customary practice without regard to the Closing contemplated by this Agreement. Except as otherwise specifically provided herein, the BRI Partnership acknowledges and agrees that all properties with units will be delivered in "as is" condition.
Condition of Units a. Owner maintenance and operation
b. PHA inspections
1. The PHA must inspect each contract unit before execution of the HAP contract. The PHA may not enter into a HAP contract covering a unit until the unit fully complies with the HQS.
2. Before providing assistance to a new family in a contract unit, the PHA must inspect the unit. The PHA may not provide assistance on behalf of the family until the unit fully complies with the HQS.
3. At least annually during the term of the HAP contract, the PHA must inspect a random sample, consisting of at least 20 percent of the contract units in each building, to determine if the contract units and the premises are maintained in accordance with the HQS. Turnover inspections pursuant to paragraph 2 of this section are not counted towards meeting this annual inspection requirement.
4. If more than 20 percent of the annual sample of inspected contract units in a building fail the initial inspection, the PHA must reinspect 100 percent of the contract units in the building.
5. The PHA must inspect contract units whenever needed to determine that the contract units comply with the HQS and that the owner is providing maintenance, utilities, and other services in accordance with the HAP contract. The PHA must take into account complaints and any other information that comes to its attention in scheduling inspections.
c. Violation of the housing quality standards
1. If the PHA determines a contract unit is not in accordance with the HQS, the PHA may exercise any of its remedies under the HAP contract for all or any contract units. Such remedies include termination, suspension or reduction of housing assistance payments, and termination of the HAP contract.
2. The PHA may exercise any such contractual remedy respecting a contract unit even if the family continues to occupy the unit.
3. The PHA shall not make any housing assistance for a dwelling unit that fails to meet the HQS, unless the owner corrects the defect within the period specified by the PHA and the PHA verifies the correction. If a defect is life threatening, the owner must correct the defect within no more than 24 hours. For other defects, the owner must correct the defect within no more than 30 calendar days (or any PHA-approved extension).
d. Maintenance and replacement—owner’s standard practice
Condition of Units. Up to the Time of Closing, all apartment units on the Property which become vacant shall, if necessary, be repaired or otherwise maintained in accordance with the Transferor Company's usual and customary practice without regard to the Closing contemplated by this Agreement.
Condition of Units. Each Unit when returned to Lessor shall be (except for additions, modifications and improvements which Lessee is entitled or required to make in accordance with the terms of this Lease) in the condition such Unit is required to be maintained pursuant to Section 11.1; provided, each Unit when returned to Lessor pursuant to Section 9.1 shall in all events:
(i) have attached or affixed thereto all parts to which Lessor has title hereunder; provided, as to any such parts that are required to be removed during the removal of such Unit, such parts may not be reattached but shall be required to be boxed or crated and kept with such Unit;
(ii) be free and clear of all Liens except Lessor Liens; and
(iii) be free of any marks or insignia which infringe the proprietary rights of third parties.
Condition of Units. The Grantee shall comply with the Physical Condition Standards and inspection requirements of 24 CFR Part 5, Subpart G, including any changes in the regulation and related Directives. In addition, the Grantee shall comply with HUD’s Physical Condition Standards of Multifamily Property of 24 CFR Part 200, Subpart P, including any changes in the regulation and related Directives.
Condition of Units. The Owner shall ensure that each Unit is suitable for occupancy, is similarly constructed, and contains living, sleeping, eating, cooking, and sanitation facilities for an individual or family.
Condition of Units. 8 6.3 Storage. . . . . . . . . . . . . . . . . . . . . . . . . . . . .8 SECTION 7. LIENS. . . . . . . . . . . . . . . . . . . . . . . . . . . . .9
Condition of Units. Each Unit when surrendered to the Lessor pursuant to Section 6.1 shall be in the condition required by Section 8.1 (as then currently tooled) and free and clear of all Liens, other than Lessor's Liens, with all Severable Modifications that are not Required Modifications to which title was retained by the Lessee pursuant to Section 9.2 having been removed from such Unit and with any damage caused by such removal having been repaired. All logs, documents, instruments, specifications, manuals, drawings, records, books, service bulletins and other materials relating to such Unit and the use, damage, repair and maintenance of such Unit shall be surrendered to the Lessor or its designee upon the surrender of such Unit. In addition, all licenses, patents and similar rights necessary for the operation of each Unit by a third party shall be assigned or conveyed to the Lessor or its designee upon surrender of such Unit.
Condition of Units. Purchaser is a sophisticated investor and its valuation of, and decision to purchase, the Units is based upon its own independent expert evaluations of such facts and materials deemed relevant by Purchaser and its agents. Other than the representations and warranties of Seller specifically set forth herein, Purchaser has not relied in entering into this Agreement upon any oral or written information from Seller, in any capacity, or any of its employees, affiliates, agents, consultants, advisors or representatives, including, without limitation, any appraisals, projections or evaluations of credit quality prepared by Seller or any of its employees, affiliates, agents, consultants, advisors or representatives. Purchaser further acknowledges that no employee, affiliate, agent, consultant, advisor or representative of Seller has been authorized to make, and that Purchaser has not relied upon, any statements or representations other than those specifically contained in this Agreement. Without limiting the generality of the foregoing, Purchaser acknowledges and agrees that, except as expressly set forth in Section 10.2 hereof, Purchaser is purchasing the Units "as is" and "where is" on the Closing Date (and subject to all Local Law 5 Violations), and, except as expressly set forth in this Agreement, Seller is making no representation or warranty, express or implied, and Purchaser has not relied on any representation or warranty, express or implied, regarding the Units, including, without limitation, any representation or warranty with respect to (a) the business or financial condition of any tenant of the Units, (b) the physical condition of the Personal Property or the Units or their fitness, merchantability or suitability for any use or purpose, (c) the Leases, rents, income or expenses of the Units, (d) the compliance or non-compliance with any laws, codes, ordinances, rules or regulations of any Governmental Authority and any violations thereof or (e) the current or future use of the Units, including, but not limited to, the Units' use for commercial, office, retail, industrial or other purposes. Except as specifically set forth in this Agreement, Seller is not liable or bound in any manner by any verbal or written statements, representations, real estate brokers' "set-ups," offering memorandum or information pertaining to the Units furnished by any real estate broker, advisor, consultant, agent, employee, representative or other Person. Purchaser further ac...
Condition of Units. No event or condition currently exists that (i) presently adversely affects the operation or maintenance of any of the Units (whether taken together as a functional whole or individually) or (ii) causes the Lessee to believe that the functional ability of the Units (whether taken together as a functional whole or individually) is less than the functional ability for which the Units were designed.
