Xxxxxx Leases Sample Clauses

Xxxxxx Leases. Seller and Buyer acknowledge that Seller, Buyer and PRC Williston LLC have executed that certain Letter Agreement of even date herewith concerning the Xxxxxx Leases and the obligations of Seller concerning such leases (the “Xxxxxx Agreement”). Seller shall fully comply with the terms of the Xxxxxx Agreement.

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Xxxxxx Leases. A written lease between the tenant and the owner of the HOME-assisted rental housing is required for each HOME-assisted unit in accordance with 24 CFR 92.252. The lease term must be for a period of at least one year, unless a shorter period is mutually agreed upon. Leases must be consistent with requirements in 24 CFR 92.253 including (a) and (b) and all tenants in HOME-assisted units must have executed leases by stabilization. The owner may not terminate the tenancy or refuse to renew except for serious and repeated violations of the lease; applicable Federal, State, or local laws; completion of the tenancy period for transitional housing; or other good cause. An increase in a tenant’s income does not constitute good cause for termination of, or refusal to renew, a lease. A 30-day written notice to the tenant is required in the event of lease termination or non-renewal. The rental lease must not include the following prohibited lease terms: • Agreement to be sued, admit guilt, or to a judgement in favor of the owner in a lawsuit. • Treatment of property – agreement that the owner may take, hold, or sell personal property of the tenant without notice to the tenant and a court decision. This doesn’t include agreement that personal property remaining in the property after the tenant has moved out can be disposed of in accordance with State law. • Excusing owner from responsibility – agreement by the tenant to not hold the owner or their agent legally responsible for any action or failure to act, whether intentional or negligent. • Waiver of notice – agreement by the tenant that the owner may institute a lawsuit without notice to the tenant. • Waiver of legal proceedings, a jury trial, and right of appeal court decision. Agreement by the tenant that the owner may evict the tenant or household members with a court proceeding or agreement by the tenant to waive any right to a trial by jury, and waive the tenant’s right to appeal, or otherwise challenge a court decision. • Tenant chargeable with cost of legal actions regardless of outcome. Agreement by the tenant to pay attorney’s fees or other legal costs even if the tenant wins in a court proceeding against the tenant. • Tenant required to accept supportive services (with an exception for residents of transitional housing). In the case of transitional housing, a tenant’s failure to participate in any required supportive services of transitional housing is a permissible basis for terminating a tenancy or refusi...

Related to Xxxxxx Leases

Leases The Property is not subject to any Leases other than the Leases described in the certified rent roll delivered to Lender in connection with the closing of the Loan (the “Certified Rent Roll”), which rent roll is true, complete and accurate in all respects as of the Closing Date. Borrower is the owner and lessor of landlord’s interest in the Leases. No Person has any possessory interest in the Property or right to occupy the same except under and pursuant to the provisions of the Leases. The current Leases are in full force and effect, and, to Borrower’s knowledge after due inquiry, there are no defaults thereunder by either party and there are no conditions that, with the passage of time or the giving of notice, or both, would constitute defaults thereunder. No Rent has been paid more than one (1) month in advance of its due date. All security deposits are held by Borrower in accordance with applicable law. All work to be performed by Borrower under each Lease has been performed as required and has been accepted by the applicable Tenant, and any payments, free rent, partial rent, rebate of rent or other payments, credits, allowances or abatements required to be given by Borrower to any Tenant has already been received by such Tenant. There has been no prior sale, transfer or assignment, hypothecation or pledge of any Lease or of the Rents received therein which is outstanding. To Borrower’s knowledge after due inquiry, no Tenant listed on the Certified Rent Roll has assigned its Lease or sublet all or any portion of the premises demised thereby, no such Tenant holds its leased premises under assignment or sublease, nor does anyone except such Tenant and its employees occupy such leased premises. Except as disclosed to Lender in writing, no Tenant under any Lease has a right or option pursuant to such Lease or otherwise to purchase all or any part of the leased premises or the building of which the leased premises are a part. No Tenant under any Lease has any right or option for additional space in the Improvements.