Common use of Technical Expertise Required Clause in Contracts

Technical Expertise Required. Owner understands that there are numerous technical rules governing a Building's qualification for the Credit as established under the Code and OHFA's Credit Program, the amount of such Credit, and an Owner's or investor's ability to utilize such Credit to offset federal income taxes. Owner further understands that Owner is solely responsible for qualifying each Building in the Development for Credit, for determining the amount of the Credit and Owner's ability to utilize the Credit, for maintaining each Building in compliance, and for notifying OHFA of any changes to a Building or the Development with respect to the information submitted in the Application. Owner has sought, had access to, and has relied solely upon Owner's advisors, Consultants and counsel, and has not relied upon any advice or consultations with any Trustee, officer, employee, advisor, consultant or counsel to OHFA.