Common use of Power of court Clause in Contracts

Power of court. This chapter does not affect the power of a court to enforce an affordable housing covenant by injunction or proceeding in equity or to modify or terminate an affordable housing covenant in accordance with principles of law and equity. A court may deny equitable enforcement of an affordable housing covenant when it finds that a change of circumstances has rendered that covenant no longer in the public interest. If the court so finds, the court may allow damages as the only remedy in an action to enforce the affordable housing covenant. A comparative economic test may not be used to determine under this subsection if an affordable housing covenant is in the public interest. [PL 1991, c. 373 (NEW).] SECTION HISTORY PL 1991, c. 373 (NEW). An affordable housing covenant may include any of the following agreements affecting residential real estate: [PL 1991, c. 373 (NEW).] 1. Resale price of residential real estate. To limit the resale price of residential real estate; [PL 1991, c. 373 (NEW).]