Rental Rate Requirements. (1) Borrower covenants and agrees that during the term of the AHIF Affordability Compliance Period, the rental rates charged for all of the Income-Restricted Units on the Property shall:
(i) be established in accordance with HUD rent limits set for Arlington County for imputed incomes at sixty percent (60%) of AMI (provided that if HUD does not publish a rent limit for 60% of AMI, then the 60% AMI rent limit will be 120% of the rent limit for 50% of AMI);
(ii) be adjusted for family size as described under the definition of “County Affordability Level,” and
(iii) not exceed the established affordability level for the gross rents, as published by HUD.
Rental Rate Requirements. (1) Borrower covenants and agrees that during the term of the AHIF Affordability Compliance Period, the rental rates charged for all of the Income-Restricted Units on the Property shall:
(i) be established in accordance with HUD rent limits set for Arlington County for imputed incomes at forty percent (40%) of AMI, fifty percent (50%) of AMI, and sixty percent (60%) of AMI (provided that if HUD does not publish a rent limit for 60% of AMI, then the 60% AMI rent limit will be 120% of the rent limit for 50% of AMI);
(ii) be adjusted for family size as described under the definition of “County Affordability Level,” and
(iii) not exceed the established affordability level for the gross rents, as published by HUD.
Rental Rate Requirements. (1) Borrower covenants and agrees that during the term of the AHIF Affordability Compliance Period, the rental rates charged for all of the Income-Restricted Units on the Property shall:
(i) be established in accordance with HUD rent limits set for Arlington County for imputed incomes at fifty percent (50%) of AMI;
(ii) be adjusted for family size as described under the definition of “County Affordability Level,” and
(iii) not exceed the established affordability level for the gross rents, as published by HUD.
Rental Rate Requirements. Declarant covenants, declares and agrees that beginning the Effective Date, and continuing for the duration of the Affordability Compliance Period, the rental rates charged of new tenants first occupying the Income-Restricted Units after the Effective Date shall (i) be established in accordance with the U.S. Housing and Urban Department (“HUD”) rent limits set for Arlington County for imputed incomes at eighty percent (80%) of AMI (provided that if HUD does not publish a rent limit for 80% of AMI, then the 80% AMI rent limit will be 120% of the rent limit for 60% of AMI), (ii) be indexed for household income and adjusted for family size as described under the definition of County Affordability Level in the Loan Agreement, and (iii) not exceed the established affordability level for the gross rents, as published by HUD. It shall be the responsibility of the Declarant and not the County Board or its designees to establish rents for the Income-Restricted Units in accordance with the Loan Agreement and applicable HUD regulations.
Rental Rate Requirements. Declarant covenants, declares and agrees that for the duration of the AHIF Affordability Compliance Period, the rental rates charged of tenants occupying the Income-Restricted Units shall (i) be established in accordance with the U.S. Housing and Urban Department (“HUD”) rent limits set for Arlington County for imputed incomes at fifty percent (50%) of AMI, (ii) be indexed for household income and adjusted for family size as described under the definition of County Affordability Level in the Loan Agreement, and
Rental Rate Requirements
