Occupancy Restrictions. a. Grantor represents and warrants that one hundred percent (100%) of the residential rental units in the Project (other than manager’s units) shall be both rent-restricted (as hereinafter defined) and occupied by individuals or families whose income is sixty percent (60%) or less of area median gross income.
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Occupancy Restrictions. a. Grantor represents and warrants (a) For the purpose of Section 42(g)(1) of the Code, the Owner elects that one hundred at least percent (100( %) of the residential rental units in the Project (other than manager’s units) shall be both rent-restricted (as hereinafter defined) and occupied by individuals or families whose income is sixty percent (60( %) or less of area median gross income.
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Samples: Restriction Agreement
Occupancy Restrictions. a. Grantor represents and warrants that one hundred percent (100%) of the residential rental units in the Project (other than manager’s units) shall be both rent-restricted (as hereinafter defined) and occupied by individuals or families whose income is sixty percent (60%) or less of area median gross income.
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