Common use of Development Use Clause in Contracts

Development Use. The Development and each Building constitute and will continue to constitute residential rental property, as defined in Code Section 42, the Housing Units of which will be rented to or available for rental on a continuous basis to members of the general public. The Development consists of one or more proximate Buildings or structures, or Buildings under a common financing plan, containing one or more similarly constructed accommodations containing separate and complete facilities for living, sleeping, eating, cooking and sanitation which are to be used on other than a transient basis and facilities which are functionally related and subordinate to such accommodations. Owner shall use the Development as residential rental property and shall take no actions which will, in any way, affect the use of the Development therefore.