Owner Occupancy Requirement Sample Clauses

Owner Occupancy Requirement. At least one Employee or Retiree who occupies the Employee Unit must be the Owner of the Employee Unit and the Owner must occupy the Employee Unit for at least 6 months plus one day in each calendar year as their permanent primary residence, except that: a. the Owner may rent the Employee Unit in accordance with the requirements of this Agreement for up to six months less one day in each calendar year and shall rent the Employee Unit in accordance with the requirements of this Agreement during those periods when the Owner is not occupying the Employee Unit; or b. if the Owner is unable, despite using documented best efforts, to rent the Employee Unit in accordance with the requirements of this Agreement for a period required by paragraph (a) of this section, the Owner may, with Whistler Housing Authority’s prior written approval, leave the Employee Unit vacant for up to six months less one day in each calendar year rather than renting it during that period as permitted by paragraph (a) of this section. The Owner may apply to the Whistler Housing Authority to extend a period of rental or vacancy under paragraph (a) or (b) of this section and on such application Whistler Housing Authority may, in its sole discretion, authorize such an extension and any such authorization shall only be effective if it is express and made in writing.
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Owner Occupancy Requirement. The Grantee must occupy and use the Unit as the Grantee’s primary residence for at least three hundred and sixty-five (365) consecutive days after the Effective Date. The Grantor will have the right to verify from time to time that the Grantee is occupying and using the Unit as the Grantee's primary residence for the three hundred and sixty-five (365) consecutive day period after the Effective Date. If the Grantee does not occupy the Unit as the Grantee's primary residence for a period of three hundred and sixty-five (365) consecutive days after the Effective Date, then the Grantor will have the right to purchase the Unit from the Grantee for an amount equal to the original purchase price of the Unit. If the Grantee sells the Unit within three hundred sixty-five (365) consecutive days after the Effective Date, then the Grantor will be entitled to recover from the Grantee an amount of money equal to the price the Grantee received for the Unit (or the fair market value of any consideration received if other than cash), minus the original purchase price. This owner-occupancy requirement will automatically extinguish three hundred and sixty-five (365) days after the date of recordation of this Deed without any further recordation of any documents in the Bureau. The terms of this paragraph will not apply to (a) any institutional lender or investor (including any successor or assignee) who holds a mortgage covering the Unit or who takes title to the Unit upon foreclosure or by way of deed-in-lieu of foreclosure or otherwise, or (b) any owner or holder of the Unit who is in the chain of title subsequent to such institutional lender or investor.
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Owner Occupancy Requirement. Borrower shall occupy, establish, and use continuously the Property as Borrower’s principal, permanent residence within thirty (30) days of the Recordation Date of this Deed of Trust in the Official Records of the County of Riverside and shall occupy continuously the Property as Borrower’s principal, permanent residence thereafter for the Affordability Period. Borrower shall meet and continue to comply with the HQS occupancy standard for the Affordability Period. Borrower agrees to deliver to Lender, not less frequently than annually and not later than fifteen (15) days after written request therefore from Lender, written certification, under penalty of perjury, of continuous owner-occupancy of the Property as Borrower’s principal residence during the then immediately preceding one-year period and certification of continuing compliance with the Program, as set forth in the Affordable Housing Agreement. (See Attachment No. 6 to Affordable Housing Agreement for sample form.)
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Owner Occupancy Requirement. All Borrower’s household members must occupy and use the purchased property as their Primary Residence as detailed in the DALP Manual. Borrowers are prohibited from renting or subleasing any part of the property without prior written approval from MOHCD. Compliance monitoring will be performed and documented proof of occupancy required at intervals determined by MOHCD.
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Owner Occupancy Requirement. At least one Employee or Retiree who occupies the Employee Unit must be the Owner of the Employee Unit and the Owner must occupy the Employee Unit for at least 6 months plus one day in each calendar year, except that: a. the Owner may rent the Employee Unit in accordance with the requirements of this Agreement for up to six months less one day in each calendar year and shall rent the Employee Unit in accordance with the requirements of this Agreement during those period when the Owner is not occupying the Employee Unit; or b. if the Owner is unable, despite using documented best efforts, to rent the Employee Unit in accordance with the requirements of this Agreement for the period required by paragraph (a) of this section, the Owner may written approval, leave the Employee Unit vacant for up to six months less one day in each calendar year rather than renting it during that period as permitted by paragraph (a) of this section. The Owner may apply to the Whistler Housing Authority to extend a period of rental or vacancy under paragraph (a) or (b) of this section and on such application Whistler Housing Authority may, in its sole discretion, authorize such an extension and any such authorization shall only be effective if it is express and made in writing.
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Related to Owner Occupancy Requirement

  • 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.

  • Lessee as Prior Owner/Occupant The warranties made by Lessor in Paragraph 2 shall be of no force or effect if immediately prior to the Start Date Lessee was the owner or occupant of the Premises. In such event, Lessee shall be responsible for any necessary corrective work.

  • 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.

  • PARTIAL OCCUPANCY OR USE 9.9.1 The Owner may occupy or use any completed or partially completed portion of the Work at any stage when such portion is designated by separate agreement with the Contractor, provided such occupancy or use is consented to by the insurer as required under Paragraph 11.3.1.5, the surety, and authorized by public authorities having jurisdiction over the Project. Such partial occupancy or use may commence whether or not the portion is substantially complete, provided the Owner and Contractor have accepted in writing the responsibilities assigned to each of them for payments, retainage, if any, security, maintenance, heat, utilities, damage to the Work and insurance, and have agreed in writing concerning the period for correction of the Work and commencement of warranties required by the Contract Documents. When the Contractor considers a portion substantially complete, the Contractor shall prepare and submit a list to the Architect as provided under Paragraph 9.8.2. Consent of the Contractor to partial occupancy or use shall not be unreasonably withheld. 9.9.2 Immediately prior to partial occupancy or use, the Owner, Contractor and Architect shall jointly inspect the area to be occupied or portion of the Work to be used in order to determine and record the condition of the Work. 9.9.3 Partial occupancy or use of a portion or portions of the Work shall not constitute acceptance of Work not complying with the requirements of the Contract Documents.

  • NUMBER OF OCCUPANTS Tenant agrees that the House shall be occupied by no more than [Total Number of Occupants] persons, including no more than [Maximum Number of Children] under the age of eighteen (18) years, without the prior written consent of Landlord.

  • Certificate of Occupancy The Contractor’s obligation under the Contract is to install the Work in accordance with the Contract Documents, obtain the Certificate of Occupancy from the State Fire Marshal or his deputy, and forward it to the Design Professional as a part of the final close out procedures. The Design Professional’s obligation is to design the Work to comply with the applicable codes and to qualify for a Certificate of 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).

  • Substantial Completion Section 7.4.1 When Supplier believes that it has achieved the requirements of Substantial Completion, Supplier shall provide written notice (the “Notice of Substantial Completion”) to System Owner stating that Supplier has achieved Substantial Completion, together with copies of all documents (as identified in the definition of Substantial Completion) that are required to be delivered to System Owner to meet Substantial Completion that have not been previously delivered. Section 7.4.2 Upon receipt of the Notice of Substantial Completion, System Owner shall promptly proceed to obtain Independent Engineer’s review and approval of the Notice of Substantial Completion and the Commissioning Report within a reasonable time, but in no event more than ten (10) Business Days following receipt of the Notice of Substantial Completion and all accompanying documents or such longer period of time as specified in the Construction Schedule (the “Substantial Completion Review Period”). Section 7.4.3 Supplier shall provide System Owner with reasonable notice of the date and time of the inspection or review of the System by a representative of the applicable Governmental Authority or Host Utility, if required, for purposes of achieving Substantial Completion, and System Owner shall have the right to have one or more representatives and the Independent Engineer present during such inspection or review. If the representative of the applicable Governmental Authority or Host Utility notifies Supplier or System Owner that the requirements for achieving Substantial Completion have not been achieved, then Supplier shall promptly take such action as necessary to achieve such requirements and, to the extent applicable, schedule another inspection or review of the System. Such procedure shall be repeated until such inspection or review has been satisfactorily completed and approved. Section 7.4.4 If System Owner and the Independent Engineer approve the Notice of Substantial Completion, System Owner shall, within the Substantial Completion Review Period, (a) notify Supplier of its approval and (b) issue written notice to Supplier to complete the Work (the “Notice to Complete”). Section 7.4.5 If System Owner or the Independent Engineer has a reasonable basis not to approve the Notice of Substantial Completion because the requirements for Substantial Completion have not been met, System Owner shall, within the Substantial Completion Review Period, notify Supplier of its non-approval and include a detailed explanation for the basis thereof. Supplier shall promptly undertake such action or work as necessary to achieve such requirements and shall then issue another Notice of Substantial Completion to System Owner stating that Supplier believes that such requirements have been achieved. Such procedure shall be repeated until Substantial Completion is achieved. If Supplier disputes the reasons stated in System Owner’s notification, then such dispute shall be resolved in accordance with Article XIX.

  • Landlord’s Title Landlord’s title is and always shall be paramount to the title of Tenant. Nothing herein contained shall empower Tenant to do any act which can, shall or may encumber the title of Landlord.

  • Conditions of Occupancy The Resident may not occupy a Room, unless (i) the Resident is currently enrolled and maintaining status as a full- time student in good standing at the Institution; (ii) this Agreement is executed by all parties; (iii) all Residence Fees then due and payable are paid in full as stated in section 2.03; (iv) the Manager has designated a Room for the Resident and (v) the Resident meets any additional conditions to occupancy established by the Institution, including any vaccination conditions.

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