Common use of Residents' Right of Refund Clause in Contracts

Residents' Right of Refund. Any individual who meets the Income limitation set forth in this Agreement (such individual may be a former or present Qualified Resident of the Development), shall be entitled to cause Owner to pay such individual an amount equal to the difference between the monies received by Owner from such individual with respect to a Low-Income Unit and the amount which should have been received by Owner if the rent collected by Owner for such Low-Income Units was in compliance with the provisions of this Agreement.