Land Use Restriction Agreement. Xxxxxxxxx agrees to comply with certain occupancy, rent, and other restrictions under Title I of the Housing and Community Development Act of 1974 (42 U.S.C. 5301 et seq.) and the applicable CDBG-DR regulations. Developer shall ensure that a percentage of units within the Project are reserved for leasing to LMI tenants, as outlined in Attachment A. The affordability of each LMI housing unit must be protected by the execution of a Land Use Restriction Agreement (“XXXX”) recorded in the real property records of the county clerk for each county in which a Project site is physically located. A sample version of the standard XXXX form typically used by the GLO is included as Attachment H. The GLO reserves the right to negotiate final XXXX terms with Developer. The XXXX must be approved by the GLO prior to filing as described above.
Appears in 4 contracts
Samples: Grant Agreement, Grant Agreement, Grant Agreement
