Examples of HOME Term in a sentence
The County will perform an on-site inspection within twelve months after completion of construction of the Development and at least once every three (3) years during the HOME Term.
The County will perform on-site inspections of the Development during the HOME Term to ensure compliance with the Maintenance Standards.
The provisions of this HOME Regulatory Agreement apply to the Property for the entire HOME Term even if the County Loan is paid in full prior to the end of the HOME Term.
During the HOME Term Borrower shall cause thirteen (13) Units to be rented to and occupied by or, if vacant, available for occupancy by, Extremely Low Income Households.
The County and Borrower hereby declare their express intent that the covenants and restrictions set forth in this HOME Regulatory Agreement run with the land, and bind all successors in title to the Property, provided, however, that on the expiration of the HOME Term said covenants and restrictions expire.
In the event there is a foreclosure of the Property, this HOME Regulatory Agreement will revive according to its original terms if, during the HOME Term, the owner of record before the foreclosure, or deed in lieu of foreclosure, or any entity that includes the former owner or those with whom the former owner has or had family or business ties, obtains an ownership interest in the Development or Property.
During the HOME Term Borrower shall cause two (2) Units to be rented to and occupied by or, if vacant, available for occupancy by, Sixty Percent Income Households.
The County Regulatory Agreement as it applies to the HOME-Assisted Units will be in effect for fifty-five (55) years from the Completion Date which term overlaps with but is longer than the HOME Term.
In the event of a conflict between this HOME Regulatory Agreement and the County Regulatory Agreement during the HOME Term as it applies to the HOME- Assisted Units, the terms of this HOME Regulatory Agreement will prevail.
Compliance with the terms of this HOME Regulatory Agreement will be deemed compliance with the County Regulatory Agreement during the HOME Term as it applies to the HOME-Assisted Units.