Regulatory Agreement. The Project is, as of the date of origination of the Funding Loan, in compliance with all requirements of the Regulatory Agreement to the extent such requirements are applicable; and the Borrower intends to cause the residential units in the Project to be rented or available for rental on a basis which satisfies the requirements of the Regulatory Agreement, including all applicable requirements of the Act and the Code and the Regulations, and pursuant to leases which comply with all applicable laws.
Regulatory Agreement. Seek specific performance of the obligations of the Borrower or any other owner of the Project under the Regulatory Agreement and injunctive relief against acts which may be in violation of the Regulatory Agreement or otherwise in accordance with the provisions of the Regulatory Agreement; provided, however, that the Governmental Lender may enforce any right it may have under the Regulatory Agreement for monetary damages only against Excess Revenues (defined below), if any, of the Borrower, unless Funding Lender otherwise specifically consents in writing to the use of other funds; and
Regulatory Agreement. Seek specific performance of the obligations of the Borrower or any other owner of the Project under the Regulatory Agreement and injunctive relief against acts which may be in violation of the Regulatory Agreement or otherwise in accordance with the provisions of the Regulatory Agreement; provided, however, that the Governmental Lender may enforce any right it may have under the Regulatory Agreement for monetary damages (which term shall not be deemed to include fees, expenses and indemnification obligations payable by the Borrower to the Governmental Lender under the Regulatory Agreement or the Borrower Loan Agreement) only against Excess Revenues (defined below), if any, of the Borrower, unless Funding Lender otherwise specifically consents in writing to the use of other funds; and
Regulatory Agreement. Lender acknowledges that the Mortgaged Property is subject to the Regulatory Agreement.
Regulatory Agreement. Borrower represents and warrants that all of the following are correct:
Regulatory Agreement. THIS REGULATORY AGREEMENT (the “Agreement”) is entered into as of this day of , 2021 by and among the CITY OF BURBANK, a California municipal corporation (the “City”), the HOUSING AUTHORITY OF THE CITY OF BURBANK, a public body, corporate and politic (the “Authority”), and BURBANK HOUSING CORPORATION, a California nonprofit corporation (the “Developer”).
Regulatory Agreement. No Mortgaged Property is subject to a Regulatory Agreement.
Regulatory Agreement. These Covenants, Conditions and Restrictions, herein sometimes referred to as these “CC&Rs” or “Declaration” or “Regulatory Agreement” are made by the signatories hereto.
Regulatory Agreement. If the Mortgaged Property is subject to a Regulatory Agreement, then Borrower will do each of the following:
(a) Promptly provide Lender with a copy of (i) any compliance report submitted to the Regulatory Agreement Agency concurrently with such submission, and (ii) any notice Borrower receives alleging that Borrower is in breach of the Regulatory Agreement.
(b) Obtain Lender’s prior approval of any amendment to or modification of the Regulatory Agreement.
(c) Provide Lender with Notice upon termination of the Regulatory Agreement.
Regulatory Agreement. Borrower is not in default under the Regulatory Agreements. The Property is, as of the Closing Date, in compliance with all requirements of the Regulatory Agreements, including all applicable requirements of the Act and the Code. Borrower intends to cause the residential units at the Property to be rented or available for rental on a basis that satisfies the requirements of the Regulatory Agreements, including all applicable requirements of the Act and the Code. All Leases will comply with all Governmental Requirements and the Regulatory Agreements. The Property meets the requirements of this Agreement, the Regulatory Agreements, the Act and the Code with respect to multifamily rental housing.
