Common use of Monitoring and Enforcement Clause in Contracts

Monitoring and Enforcement. During the Subsidy Period, the Subsidizing Agency shall have exclusive authority and jurisdiction for all monitoring, oversight, and enforcement functions with respect to the Affordable Units, including without limitation, provision of the Affordable Units, monitoring eligibility for tenancy, calculation of affordable rentals and all matters related to limited dividend restrictions. From and after the Subsidy Period, the Town shall have the right to monitor the Applicant’s compliance with the terms of Paragraph 3 above. The Town may retain a monitoring agent (the “Town Monitoring Agent”) the reasonable fees for which shall be paid by the Applicant (as provided in Condition 26 of the Comprehensive Permit), to monitor the Applicant’s compliance with requirements of the Town Regulatory Agreement. The Applicant agrees to submit to the Town Monitoring Agent all certifications in the same form, and with the same level of detail, as were made the Applicant to the Subsidizing Agency during the Subsidy Period relative to its compliance with the provisions of Paragraph 3 above.

Monitoring and Enforcement. During the Subsidy Period, the Subsidizing Agency shall have exclusive authority and jurisdiction for all monitoring, oversight, and enforcement functions with respect to the Affordable Units, including without limitation, provision of the Affordable Units, monitoring eligibility for tenancy, calculation of affordable rentals and all matters related to limited dividend restrictions. From and after the Subsidy Period, the Town shall have the right to monitor the Applicant’s compliance with the terms of Paragraph 3 above. The Town may retain a monitoring agent (the “Town Monitoring Agent”) the reasonable fees for which shall be paid by the Applicant (as provided in Condition 26 6 of the Comprehensive Permit), to monitor the Applicant’s compliance with requirements of the Town Regulatory Agreement. The Applicant agrees to submit to the Town Monitoring Agent all certifications in the same form, and with the same level of detail, as were made by the Applicant to the Subsidizing Agency during the Subsidy Period relative to its compliance with the provisions of Paragraph 3 above.

Monitoring and Enforcement. During the Subsidy Period, the Subsidizing Agency shall have exclusive authority and jurisdiction for all monitoring, oversight, and enforcement functions with respect to the Affordable Units, including without limitation, provision of the Affordable Units, monitoring eligibility for tenancy, calculation of affordable rentals and all matters related to limited dividend restrictions. From and after the Subsidy Period, the Town shall have the right to monitor the Applicant’s compliance with the terms of Paragraph 3 above. The Town may retain a monitoring agent (the “Town Monitoring Agent”) the reasonable fees for which shall be paid by the Applicant (as provided in Condition 26 9 of the Comprehensive Permit), to monitor the Applicant’s compliance with requirements of the Town Regulatory Agreement. The Applicant agrees to submit to the Town Monitoring Agent all certifications in the same form, and with the same level of detail, as were made by the Applicant to the Subsidizing Agency during the Subsidy Period relative to its compliance with the provisions of Paragraph 3 above.