RENT LIMITATIONS Sample Clauses

RENT LIMITATIONS. The maximum monthly rent (which includes the tenant-paid portion of the rent, the Utility Allowance, and rental assistance payment) charged by Developer for the seven (7) Qualifying Units, as specified in Section 3.03(a), occupied by Low- to Moderate-Income Households, other than Extremely Low-Income Households, must be set at levels that are affordable to Low- to Moderate-Income Households. Such maximum monthly rent shall not exceed the higher of (a) High Home Investment Partnership (“HOME”) Rents (as defined under 24 C.F.R. 92.252 et seq.), as amended; as determined by HUD; and as published on an annual basis with adjustment for family size) or (b) exception rents allowed by HUD on project-based Section 8 properties pursuant to 24 C.F.R. Part 252(b)(2), as amended.
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RENT LIMITATIONS. The maximum monthly rent (which includes the tenant paid portion of the rent, the Utility Allowance, and rental assistance payment) charged by Owner for the twenty-four (24) Qualifying Units, specified in Sections 2.3(a)(2), occupied by Low-Moderate-Income Households, other than Extremely Low-Income Households, must be set at levels that are affordable to Low-Moderate-Income Households and shall not exceed the higher of (i) High Home Investment Partnership (“HOME”) Rents as defined under Title 24, Section 92.252 of the Code of Federal Regulations as may be amended or modified from time to time and determined by the GLO and published on an annual basis with adjustment for family size; or (ii) exception rents allowed by HUD on project-based Section 8 properties pursuant to Title 24, Section 252(b)(2) of the Code of Federal Regulations as may be amended or modified from time to time.
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RENT LIMITATIONS a. The HOME-assisted units in a rental housing project must be occupied by households that are eligible as low income families and meet the requirements of 24 CFR § 92.252 (a-c). The maximum HOME rents (High HOME Rents) are set out in Attachment I, Statement of Work as allowed by 24 CFR § 92.252(a). The rent limits apply to the rent plus the utilities or the utility allowance. The initial rents (including utility allowances) for each HOME- assisted unit shall be set using County provided ceiling at the time of the initial occupancy of each matching HOME-assisted unit by a new household.
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RENT LIMITATIONS. BORROWER shall comply with the rent limitations set 11 forth under 24 CFR 92.252 of the HOME Investment Partnerships Act and HOME Investment 12 Partnerships (“HOME”) program, which was enacted under Title II of the Xxxxxxxx-Xxxxxxxx 13 National Affordable Housing Act (the “HOME Act”), as amended (commencing at 42 U.S.C. 14 12701 et seq.), and the implementing regulations thereto (24 CFR Part 92) (collectively, the 15 “HOME Program”). The units reserved for Qualified Very Low Income Households shall be 16 rented at Low HOME rent levels as published by HUD and the units reserved for Qualified Low 17 Income Households shall be rented at High HOME rent levels as published by HUD. The ARPA- 18 Assisted Units shall be a “floating” designation on the Property such that the requirements of 19 this Agreement will be satisfied so long as the total number of ARPA-Assisted Units and 20 bedroom size remains the same throughout the Affordability Period. The maximum monthly 21 allowances for utilities and services (excluding telephone) shall not exceed the utility allowance 22 as described below. Rent limitations hereunder shall apply to the portion of rent paid by a tenant, 23 and nothing herein shall limit BORROWER from accepting rental assistance in excess of such 24 tenant-paid rent, to the extent permitted by the applicable rental assistance program and federal 25 law.
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RENT LIMITATIONS. If the fixed rent or any additional rent shall be or become uncollectible by virtue of any law, governmental order or regulation, or direction of any public officer or body, Tenant shall enter into such agreement or agreements and take such other action (without additional expense to Tenant) as Landlord may request, as may be legally permissible, to permit Landlord to collect the maximum fixed rent and additional rent which may, from time to time during the continuance of such legal rent restriction be legally permissible, but not in excess of the amounts of fixed rent or additional rent payable under this lease. Upon the termination of such legal rent restriction, (a) the fixed rent and additional rent, after such termination, shall become payable under this lease in the amount of the fixed rent and additional rent set forth in this lease for the period following such termination, and (b) Tenant shall pay to Landlord, if legally permissible, an amount equal to (i) the fixed rent and additional rent which would have been paid pursuant to this lease, but for such rent restriction, less (ii) the fixed rent and additional rent paid by Tenant to Landlord during the period that such rent restriction was in effect.
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RENT LIMITATIONS. Pursuant to 24 CFR 92.252 (a), initial rents of HOME-assisted units shall not exceed the HOME High Rents provided by HUD and in effect at the time of initial occupancy and each year thereafter. The value of these rents accommodates the cost of utilities. Developer shall provide the City will a list of utilities provided at the project site, as well as the provider of those services. The City will determine the Utility Allowance Schedule prior to initial occupancy, and annually thereafter during the period of affordability.
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RENT LIMITATIONS. The rent limitation for the IRUs are as follows: i. (##) of the IRUs (the “XX% Units”) will have rents not exceeding the amount posted on the website of the City and County of Denver’s Department of Housing Stability (“HOST”), or any successor agency which is assigned responsibility for the City’s MAH Ordinance, for households earning [XX]% or less of AMI. ii. (##) of the IRUs (the “YY% Units”) will have rents not exceeding the amount posted on the website of HOST for households earning [YY]% or less of AMI. iii. [REPEAT AS NECESSARY] iv. The maximum allowable rents posted on HOST’s website are based upon the AMI threshold published by the U.S. Department of Housing and Urban Development. Using these gross rental limits, HOST’s maximum allowable net rents are calculated by subtracting the utility allowance published annually by the Colorado Department of Local Affairs (DOLA) and any other “non-optional” fees charged to residents.
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RENT LIMITATIONS. The maximum monthly rent (which includes the tenant-paid portion of the rent, the Utility Allowance, and rental assistance payment) charged by Developer for the ninety-nine (99) Qualifying Units, as specified in Section 3.03(a), occupied by Low- to Moderate-Income Households, other than Extremely Low-Income Households, must be set at levels that are affordable to Low- to Moderate-Income Households. Such maximum monthly rent shall not exceed the higher of (a) High Home Investment Partnership (“HOME”) Rents (as defined under 24 C.F.R. 92.252 et seq.), as amended; as determined by HUD; and as published on an annual basis with adjustment for family size) or (b) exception rents allowed by HUD on project-based Section 8 properties pursuant to 24 C.F.R. Part 252(b)(2), as amended. The maximum monthly rent (which includes the tenant-paid portion of the rent, the Utility Allowance, and rental assistance payment) charged by Developer for the fifteen (15) Qualifying Units occupied by Extremely Low-Income Households must be set at levels that are affordable to Extremely Low-Income Households and shall not exceed the thirty percent (30%) maximum-rent limits determined by HUD and published on an annual basis with adjustment for family size.
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Related to RENT LIMITATIONS

  • Rent Adjustments 4.1 For the purpose of this Article 4, the following terms are defined as follows:

  • Monthly Rent a. Commencing as of the Commencement Date, and continuing thereafter on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

  • Term and Rent Lessor demises the above premises for a term of twenty years, commencing January 1, 1993, and terminating o December 31, 2012, or sooner as provided herein at the annual rent of Twenty Four Thousand Dollars ($24,000.00), payable in equal installments in advance on the first day of each month for that month's rental, during the term of this lease. All rental payments shall be made to Lessor, at the address specified above.

  • Annual Rent LESSEE covenants and agrees to pay as rent to LESSOR the sum of

  • Base Rent 3.1 Beginning on the Rent Commencement Date, Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.

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