Common use of Mixed Use Properties Clause in Contracts

Mixed Use Properties. Mortgages in the Multifamily Loan Group are secured by properties that have both a housing component and a non-housing component meet all of the following requirements: (A) The physical plan consists of: (1) A single structure; or (2) Multiple Structures, some of which contain mixed uses but none of which is entirely non-residential; or (3) Multiple Structures most of which are entirely residential, but one or a small number of which consist of retail stores primarily intended to serve residents of the project. (B) The aggregate gross commercial income does not exceed 20% of the estimated total gross income.

Mixed Use Properties. Mortgages in the Multifamily Loan Group are secured by properties that have both a housing component and a non-housing component meet all of the following requirements: (A) The physical plan consists of: (1) A single structure; or (2) Multiple Structuresstructures, some of which contain mixed uses but none of which is entirely non-residential; or (3) Multiple Structures most of which are entirely residential, but one or a small number of which consist of retail stores primarily intended to serve residents of the project. (B) The aggregate gross commercial income does not exceed 20% of the estimated total gross income.

Mixed Use Properties. Mortgages in the Multifamily Loan Group are secured by properties that have both a housing component and a non-housing component meet all of the following requirements: (A) The physical plan consists of: (1) A single structure; or (2) Multiple Structures, some of which contain mixed uses but none of which is entirely non-residential; or (3) Multiple Structures structures most of which are entirely residential, but one or a small number of which consist of retail stores primarily intended to serve residents of the project. (B) The aggregate gross commercial income does not exceed 20% of the estimated total gross income.