Contract Rents definition

Contract Rents means the total Contract Rents (as defined by the U.S. Department of Housing and Urban Development in regulations promulgated pursuant to Section 8 of the U.S. Housing Act of 1937, as amended) received in connection with the operation of a housing project during an agreed annual period, exclusive of Utilities.
Sample 1Sample 2Sample 3
Contract Rents is defined in Section 2(b) of the Assignment of Lease and Rent.
Sample 1Sample 2Sample 3
Contract Rents means the total Contract Rents (as defined by the U.S. Department of Housing and Urban Development in regulations promulgated pursuant to Section 8 of the U.S. Housing Act of 1937, as amended) received in connection with the operation of a housing project during an agreed annual period, exclusive of Utilities. [Delete this definition if the project does NOT receive project-based Section 8 rental subsidy]
Sample 1Sample 2Sample 3

Examples of Contract Rents in a sentence

  • Contract Rents, if applicable, will be used as the Pro Forma Rent.

  • Contract Rents will be adjusted as pro- vided in paragraphs (a) (1) and (2) of this section upon submittal to the PHA by the Owner of a revised schedule of Contract Rents, provided that the unit is in decent, safe, and sanitary condi- tion and that the Owner is otherwise in compliance with the terms of the Lease and Contract.

  • On or after each annual an- niversary date of the Contract, the Contract Rents may be adjusted in ac- cordance with HUD procedures, effec- tive for the month following the sub- mittal by the Owner of a revised sched- ule of Contract Rents.

  • Adjusted Contract Rents must then be examined in accordance with paragraph (b) of this section and may be adjusted accordingly.

  • However, if the amounts borrowed to finance the rehabilitation costs or to finance pur- chase of the property are subject to a variable rate or are otherwise renego- tiable, Contract Rents may be adjusted in accordance with other procedures as prescribed by HUD, and specified in the Contract, provided that the adjusted Contract Rents cannot exceed the rents established by multiplying the Annual Adjustment Factor by the Contract Rents.

  • The PHA must then establish the Contract Rents as provided in§ 882.408 which will be subject to reduc- tion based on a post audit.

  • When the actual relocation pay- ments made by the Owner to tempo- rarily relocated Families varies from the cost estimated in the calculation of Contract Rents for the Agreement.

  • Contract Rents may be adjusted upward or downward, as may be appropriate.

  • If other deficiencies exist, the PHA must determine whether and to what extent the deficiencies are cor- rectable, and whether the Contract Rents should be reduced.

  • If changes are made without prior PHA approval, the PHA may determine that Contract Rents must be reduced or that the Owner must remedy any defi- ciency as a condition for acceptance of the unit(s).(ii) Contract rents may not be in- creased except in accordance with§§ 882.408(d) and 882.805(d)(2).


More Definitions of Contract Rents

Contract Rents means the total Contract Rents (as defined by HUD in regulations promulgated pursuant to Section 8 of the U.S. Housing Act of 1937, as amended) received in connection with the operation of the Housing Development governed by this section during an agreed annual period, exclusive of Utilities.
Sample 1Sample 2
Contract Rents is defined in Section 2(c) of the Assignment of Lease and Rents. APPENDIX A TO THE PARTICIPATION AGREEMENT (HGSI)
Sample 1
Contract Rents shall have the meaning assigned to such term in Section 2(c) of each Assignment of Leases.
Sample 1

Related to Contract Rents

  • Additional Rents means amounts payable under any Lease for (i) the payment of additional rent based upon a percentage of the Tenant’s business during a specified annual or other period (sometimes referred to as “percentage rent”), (ii) so-called common area maintenance or “CAM” charges, and (iii) so called “escalation rent” or additional rent based upon such tenant’s allocable share of insurance, real estate taxes or operating expenses or labor costs or cost of living or xxxxxx’x wages or otherwise.

  • Gross Rents means the actual sum of money or other consideration payable for the use or possession of property. "Gross rents" shall include, but not be limited to:

  • Ground Rent means any rent, additional rent or other charge payable by the tenant under the Ground Lease.

  • Operating Lease of a Person means any lease of Property (other than a Capitalized Lease) by such Person as lessee which has an original term (including any required renewals and any renewals effective at the option of the lessor) of one year or more.

  • Rents means all of the rents, royalties, issues, profits, revenues, earnings, income and other benefits of the Property, or arising from the use or enjoyment of the Property, including all such amounts paid under or arising from any of the Leases and all fees, charges, accounts or other payments for the use or occupancy of rooms or other public facilities within the Real Property.

  • Mortgagor The obligor on a Mortgage Note.

  • Residential rental property means property that is used solely as leased or rented property for residential purposes. If the property is a space rental mobile home park, residential rental property includes the rental space that is leased or rented by the owner of that rental space but does not include the mobile home or recreational vehicle that serves as the actual dwelling if the dwelling is owned and occupied by the tenant of the rental space and not by the owner of the rental space.

  • Rent as used in this Section 21 shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others. As used in Sections 21(c)(ii)(A) and (B), above, the “worth at the time of award” shall be computed by allowing interest at the Default Rate. As used in Section 21(c)(ii)(C) above, the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%.

  • Mining Lease means the mining lease granted pursuant to Clause 12 and includes any renewal thereof and according to the requirements of the context shall describe the area of land demised as well as the instrument by which it is demised;

  • Lease contract means the total legal obligation that results from the lease agreement as affected by this article and any other applicable rules of law. Unless the context clearly indicates otherwise, the term includes a sublease contract.

  • Contract Charges means charges that accrue during a given month as defined in Article III. “Contract Term” is defined in Article IV.

  • trade premises means any premises used or intended to be used for carrying on any trade or industry;