Common use of Equal Opportunity in Housing Clause in Contracts

Equal Opportunity in Housing. New Borrower agrees that it shall fully comply with the provisions of (1) any laws prohibiting discrimination in housing on the basis of race, color, creed or national origin; and (2) with the Regulations of the Department of Housing and Urban Development providing for nondiscrimination and equal opportunity in housing. New Borrower understands and agrees that New Borrower’s failure or refusal to comply with any such provisions shall be a proper basis for the Secretary to take any corrective action he may deem necessary, including, but not limited to, the rejection of future applications for FHA mortgage insurance and the refusal to enter into future contracts of any kind with which New Borrower is identified; and further, the Secretary shall have a similar right to corrective action (1) with respect to any individuals who are officers, directors, principal stockholders, trustees, manager, partners or associates of New Borrower and (2) with respect to any corporation or any other type of business association or organization with which the officers, directors, principal stockholders, trustees, manager, partners, or associates of New Borrower may be identified.