Land Use Restriction Agreement definition

Land Use Restriction Agreement or “LURA” means the agreement submitted to the Agency restricting the property to affordable housing use during the Compliance Period and Extended Use Period.

Land Use Restriction Agreement or “XXXX,” means the CDBG-DR Land Use Restriction Agreement, attached hereto and incorporated herein for all purposes as Attachment G, that was executed by and between the GLO and Developer and sets forth certain occupancy and rental restrictions as contained therein (as it may be amended from time to time) for the Project.

Land Use Restriction Agreement or “LURA” means, with respect to the SAIL or HOME Program, an agreement between the Corporation and the Applicant which sets forth the Set-Aside requirements and other Development requirements, if any, under the SAIL or HOME Program.

Examples of Land Use Restriction Agreement in a sentence

• Prepayment of the Loan prior to the expiration of the Period of Affordability shall not relieve the Borrower of the application of the Period of Affordability requirements detailed in this Agreement, except as provided in the Land Use Restriction Agreement.

• The affordability of each multi-family housing unit will be protected with a twenty-year (20-year) Land Use Restriction Agreement (XXXX) approved by the GLO.

• To that end, no fewer than the number of multifamily units in the Project set forth in the table below shall, pursuant to the terms and conditions of a Land Use Restriction Agreement (i.e., the “XXXX”) in substantially the form attached hereto as “Attachment 1” to this Schedule P and incorporated herein by reference.

• The terms of the Notes, Mortgage and Land Use Restriction Agreement, together with this Agreement (the “Loan Documents”), are hereby incorporated herein by reference, and noncompliance with any term or condition of any of them shall be deemed a default hereunder, after the expiration of any applicable notice, cure, or grace period(s).

• Failure to ensure that the warranty deed is prepared in accordance with the provisions above and execute a Land Use Restriction Agreement at closing will result in withholding HOME funds until said items are addressed.

More Definitions of Land Use Restriction Agreement

Land Use Restriction Agreement or “XXXX” means the CDBG-DR Land Use Restriction Agreement executed by and between the Texas General Land Office and Developer and setting forth certain occupancy and rental restrictions for the Project, as contained therein, as it may from time to time be amended.

Land Use Restriction Agreement means an agreement between the department, the development owner, and the development owner's successors in interest that encumbers the development with respect to the requirements of this subchapter and the requirements of Section 42, Internal Revenue Code of 1986 (26 U.S.C. Section 42).

Land Use Restriction Agreement means the Land Use Restriction Agreement dated as of December 1, 2017, among the Issuer, the Borrower and the Trustee.

Land Use Restriction Agreement means the Regulatory Agreement, dated as of June 1, 2022, between the Governmental Lender, the Fiscal Agent, and the Borrower, as the same may be amended, modified or supplemented from time to time.

Land Use Restriction Agreement means the removal of Declarations of Trust “DOT” that keeps public housing public and prohibits from being privatized. MPHA already asked HUD permission to waive DOT if the city government, and residents approve, but decision from HUD is still pending.

Land Use Restriction Agreement. Collectively, the agreements between the Agency and the Original Developer, dated as of March 1, 1985, recorded in the Official Records of Hillsborough County, Official Records Book 4532, Page 1515, as to the Players Club at Tampa Project; dated as of March 1, 1985, recorded in the Official Records of Pinellas County, Official Records Book 5964, Page 1681, as to the Suntree at East Bay Project; dated as of March 1, 1985, recorded in the Official Records of Pinellas County, Official Records Book 5964, Page 1777, as to the Players Club at East Bay Project; dated as of March 1, 1985, recorded in the Off cial Records of Orange County, Official Records Book 3627, Page 516, as to the Suntree at Orlando Project; and dated as of March 1, 1985, recorded in the Official Records of Orange County, Official Records Book 3627, Page 616, as to the Players Club at Magnolia Bay Project, as assumed by the Developer and as amended as to each separate agreement by the First Amendment to Land Use Restriction Agreement dated as of June 1, 1991, each among the Agency, the Trustee, the Credit Enhancer and the Developer (respectively, the "First Amendment") to be recorded in the Official Records of Hillsborough County, Orange County, and Pinellas County, Florida as applicable and as same may be further amended in accordance with this Indenture.

Land Use Restriction Agreement means that certain Land Use Restriction Agreement dated as of 1, 2018 with an effective date of , 2018, made by and among the Issuer, the Trustee and the Borrower.