TERM OF DECLARATION. This Declaration will continue for a term of fifty (50) years from its date of recordation. Thereafter, this Declaration will be automatically extended for successive periods of ten (10) years until two-thirds (2/3) of the Owners approve a termination of this Declaration.
TERM OF DECLARATION. (a) This Declaration shall become effective with respect to a building in the Project on the first day of the Affordability Compliance Period for such building and shall terminate on the last day of the Affordability Compliance Period, unless this Agreement is earlier terminated pursuant to Section 5(b) hereof (the "Term").
(b) Notwithstanding subsection (a) above, this Declaration shall terminate:
(1) with respect to any building in the Project, on the date such building is acquired by foreclosure (or instrument in lieu of foreclosure), upon the recorded declaration of termination of the party so acquiring the building, unless the City determines that such acquisition is part of an arrangement a purpose of which is to terminate such period. If any party acquiring a building by foreclosure (or instrument in lieu of foreclosure) fails to record a declaration terminating this Declaration, the building shall remain subject to this Declaration; or
(2) following the end of the Affordability Compliance Period, subject to the consent of the City, upon the acquisition of the Project by the Tenants of the Project, a qualified nonprofit organization or a government agency; or
(c) If this Declaration is terminated pursuant to subsection (b) above and notwithstanding anything herein to the contrary, the Tenant of any Low-Income Unit on the date of such termination shall be entitled to occupy such Unit in accordance with the provisions of this Declaration for a period of three years following such termination date, provided, however, that upon a showing of good cause, such Xxxxxx's tenancy may be terminated or such Tenant evicted.
TERM OF DECLARATION. This Declaration shall continue for a period of fifty (50) years and thereafter year to year, unless, before the expiration of the term (as it may be so extended), this Declaration is terminated or modified by written instrument duly signed and acknowledged by the Declarant, if the Declarant still owns a Parcel within the Center, and Owners (which may include Declarant) holding at least seventy-five percent (75%) of the Members voting power, and such instrument is recorded in the Office of the County Recorder of San Diego County, California. This Declaration shall terminate upon the expiration of the term following such recordation. Notwithstanding any such termination, the provisions of Section 8.2 regarding the Common Area and the provisions of Article 11 regarding the grant of easements with respect to the Common Area shall survive and remain in full force and effect unless terminated or otherwise modified by the requisite written consent of the Owners as set forth in Section 8.2.
TERM OF DECLARATION. The provisions of this Agreement shall become effective upon its recordation in the public records of Miami-Dade County, Florida and shall continue in effect for a period of thirty (30) years after the date of such recordation, after which time it shall be extended automatically for successive periods of ten (10) years, each, unless released in writing by the owners of the Property and the City after a public hearing before the City Commission. If the Property is submitted to condominium ownership, then the association or other entity designated to represent all of the condominium ownership interests as to the Property, as may be applicable, shall be the proper entity or entities to execute any such release for properties in a condominium form of ownership after City approval.
TERM OF DECLARATION. This voluntary Declaration on the part of the Owner shall remain in full force and effect and shall be binding upon the Owner, its successors in interest and assigns for an initial period of thirty (30) years from the date this Declaration is recorded in the public records, and shall be automatically extended for periods of ten (10) years, unless modified, amended or released prior to the expiration thereof.
TERM OF DECLARATION. The provisions of this Declaration shall become effective upon their recordation in the Public Records of Broward County, Florida, and may not be terminated or modified in any way except by means of an instrument executed by the Owners of the Properties after the prior written consent of the City Manager subject to the approval of the City Attorney as to legal form and correctness, or their respective designees or successors, upon the demonstration and affirmative finding that the same is no longer necessary to preserve and protect the Property for the purposes herein intended.
TERM OF DECLARATION. The For-Rent Affordable Residential Units shall remain available at Affordable Rents for a continuous period of ninety (90) years after the initial lease of each For-Rent Affordable Residential Unit. Vertical Developer shall notify the Agency of the initial lease date, and the Agency shall maintain a record of the expiration of the ninety (90) year term for each For-
TERM OF DECLARATION. It is the intent of the Parties that this Declaration be released on a unit-by-unit basis upon the conveyance of title by Developer of each Affordable Unit to a low-income family. Concurrently with the transfer of title of each Affordable Unit, another declaration of covenants, conditions and restrictions in the form of a declaration applicable to such third party purchaser of the Affordable Unit shall be recorded in the place of this Declaration.
TERM OF DECLARATION. The Rental Inclusionary Units shall remain Rental Inclusionary Units for a continuous period of fifty-five (55) years after the initial lease of each Unit and shall thereafter be Rental Market Rate Units.
TERM OF DECLARATION. The provisions of this Declaration shall become effective upon their recordation in the Public Records of Miami-Dade County, Florida, and shall continue in effect for a period of thirty (30) years after the date of such recordation‚ after which time they shall be extended automatically for successive periods of ten (10) years each, unless released in writing by the (i) then Owner(s) of the Property (or if any portion of the Property has been submitted to the condominium form of ownership, then by the association established to operate the condominium in lieu of all of the owners thereof) AND (ii) the Zoning Administrator and Directors of the Departments of Resilience and Public Works, Planning, and Building of the City of Miami, subject to the approval of the City Attorney as to legal form and correctness, or their respective designees or successors, upon the demonstration and affirmative finding that the same is no longer necessary to preserve and protect the Property for the purposes herein intended.
