Household Income After Occupancy Sample Clauses

Household Income After Occupancy. Changes in incomes of households occupying Owner Affordable Housing Units shall not affect the classification of Residential Units as Owner Affordable Housing Units until the household income exceeds 120% of Area Median Income, in which case the Residential Unit shall no longer be considered an Owner Affordable Housing Unit and the Owner shall designate the next available Residential Unit of comparable size within the Residential Project as an Owner Affordable Housing Unit at the same original level of affordability as the de-designated Residential Unit, and shall restrict the Rent on such Residential Unit to the applicable level specified in Section 3.1 above. Upon designation of the next available Residential Unit, the Owner shall no longer be required to limit rental charges for the Residential Unit which is no longer considered an Affordable Housing Unit to the levels described in Section 3 above.
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Household Income After Occupancy. (a) Owner shall require all households applying for a lease renewal to submit a new Income Certification annually, within sixty (60) days before the expiration date of the current lease on the For-Rent Affordable Residential Unit. Owner shall make reasonable efforts to verify such Income Certifications, including without limitation calling such applicants’ employers or other income sources to confirm the income shown. (b) Changes in incomes of households occupying For-Rent Affordable Residential Units shall not affect the classification of Residential Units as For-Rent Affordable Residential Units until the household income exceeds one hundred and twenty percent (120%) of AMI. At that point, the lease may be renewed for one additional year, and the household shall be informed that it no longer qualifies and may be subject to non-renewal of such lease at expiration. On or before the ninetieth (90th) day prior to the expiration date of such lease, Owner shall designate the next available Residential Unit of comparable size within the Residential Project as a replacement For-Rent Affordable Residential Unit, using commercially reasonable efforts to match the distribution of For-Rent Affordable Residential Units and Market Rate Housing Units shown on Attachment A-l. Owner shall then restrict the Rent on the replacement For-Rent Affordable Residential Unit to the level specified in Sections 3.2 and 3.3, the Residential Unit occupied by the household that no longer qualifies for low-income housing under this Declaration shall no longer be considered a For-Rent Affordable Residential Unit, and the household may execute a new lease on the Residential Unit at an unrestricted Rental Rate. However, if Owner is unable to designate a replacement For-Rent Affordable Residential Unit on or before the date specified, and the most recent Income Certification shows that the household no longer qualifies for low-income housing under this Declaration, then Owner shall not renew the household’s lease on the For-Rent Affordable Residential Unit. Thereafter, the For-Rent Affordable Residential Unit shall be rented to a low-income household, subject to this Declaration, the Agreement and the Program. Owner shall keep the household that no longer qualifies for low-income housing reasonably informed of the Owner’s attempts to obtain a replacement For-Rent Affordable Residential Unit. (c) At all times the number of For-Rent Affordable Residential Units in the Residential Project mus...
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Household Income After Occupancy 
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Related to Household Income After Occupancy

  • Maximum Occupancy No more than two (2) guests per one (1) resident (who is present) are permitted in a student room/suite/apartment at any given time unless otherwise approved by the University (Residential Life).

  • Early Occupancy If Tenant occupies the Property prior to the Commencement Date, Tenant's occupancy of the Property shall be subject to all of the provisions of this Lease. Early occupancy of the Property shall not advance the expiration date of this Lease. Tenant shall pay Base Rent and all other charges specified in this Lease for the early occupancy period.

  • Occupancy After Foreclosure Any sale of the Mortgaged Property or any part thereof will divest all right, title and interest of Mortgagor in and to the property sold. Subject to applicable law, any purchaser at a foreclosure sale will receive immediate possession of the property purchased. If Mortgagor retains possession of such property or any part thereof subsequent to such sale, Mortgagor will be considered a tenant at sufferance of the purchaser, and will, if Mortgagor remains in possession after demand to remove, be subject to eviction and removal, forcible or otherwise, with or without process of law.

  • Occupancy The Assuming Institution shall give the Receiver fifteen (15) days' prior written notice of its intention to vacate prior to vacating any leased Bank Premises with respect to which the Assuming Institution has not exercised the option provided in Section 4.6(b). Any such notice shall be deemed to terminate the Assuming Institution's option with respect to such leased Bank Premises.

  • Substantial Completion 9.8.1 When the Contractor considers that the Work, or a designated portion thereof which has been accepted in writing to by the State, is substantially complete as defined in Subparagraph

  • Ready for Occupancy For purposes of Section 1.3.2 of this Agreement, the Premises shall be deemed “Ready for Occupancy” upon the substantial completion of the Tenant Improvement Work. Subject to Section 4.2 below, the Tenant Improvement Work shall be deemed to be “substantially complete” upon the completion of the Tenant Improvement Work pursuant to the Approved Construction Drawings (as reasonably determined by Landlord), with the exception of any details of construction, mechanical adjustment or any other similar matter the non-completion of which does not materially interfere with Tenant’s use of the Premises.

  • Occupancy Period a. The student may begin occupancy of their assigned room space on the dates listed in the University catalog. Failure to occupy the room by the first official day of classes each semester may result in a reassignment of the room; however, the residential student agreement will remain enforced. Students are expected to occupy their assigned room. Students who choose to vacate their assignment without being officially exempted from the agreement have abrogated their right to that space and are required to return any key(s) to the vacated assignment as directed. Failure to return key(s) as directed will result in billing for associated lock changes(s). Students remain liable for room and board charges during the life of the agreement. Students who have previously vacated and subsequently return during the agreement period will be reassigned to an available space.

  • MULTIPLE TENANT OR OCCUPANT(S) Each individual that is considered

  • Substantial Completion Date Substantial Completion of the Work as defined in Article 6.1.2 of the General Conditions to the Continuing Contract for Construction Management shall be achieved by July 31, 2022.

  • Possession and Occupancy The Seller will deliver possession and occupancy of the Property to the Buyer at Closing. The Seller shall provide access to all locks, including keys, remote controls, and any security/access codes, necessary to operate all locks, mailboxes, and security systems.

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