Homebuyer Activities. For homebuyer activities, City shall provide a legally enforceable agreement consisting of a Real Estate Lien Note and Deed of Trust, containing remedies adequate to enforce the affordability requirements of 24 CFR 92.254. The note and deed of trust will have a term of fifteen (15) years. Funds recaptured because housing no longer meets the affordability requirements under 24 CFR 92.254(a)(5) are subject to the requirements of 24 CFR 92.503.
Appears in 4 contracts
Samples: Home Investment Partnerships Program Contract, Home Investment Partnerships Program Contract, Home Investment Partnerships Program Contract
