Notice of Affordability Restrictions definition

Notice of Affordability Restrictions means the notice to be executed by the parties in substantially the form attached hereto as Attachment No. 13 and incorporated herein, which shall recite the affordability restrictions and restrictions on transfer imposed on the Site by this Agreement and the Regulatory Agreement, and which shall be recorded against the Site at the Closing, as required by and in compliance with Health and Safety Code Section 33334.3(f)(3)(B).

Notice of Affordability Restrictions means that certain Notice of Affordability Restrictions on Transfer of Real Property to be recorded against the Property on the Close of Escrow. The form of the Notice of Affordability Restrictions is attached as Exhibit L.

Notice of Affordability Restrictions shall refer to the Notice of Affordability Restrictions in the form attached to this Agreement as Attachment No. 15, which is incorporated herein by this reference.

Examples of Notice of Affordability Restrictions in a sentence

• However, the Regulatory Agreement, the Notice of Affordability Restrictions and the Deed of Trust (as security for the Regulatory Agreement and the Notice of Affordability Restrictions) will remain in effect for the entire Term, regardless of any prepayment or Transfer.

• Upon acquisition of the Property, in consideration of the Loan, Developer shall (i) secure its obligation to repay the Loan, as evidenced by the Notes, by executing the Deed of Trust, and cause or permit it to be recorded as a lien against the Property, and (ii) execute the Regulatory Agreement and the Notice of Affordability Restrictions, and cause or permit them to be recorded against the Property.

• In consideration of the Loan, Developer shall (i) secure its obligation to repay the Loan, as evidenced by the Note, by executing the Deed of Trust, and cause or permit it to be recorded as a lien against the Housing Parcel, and (ii) execute the Regulatory Agreement and the Notice of Affordability Restrictions, and cause or permit them to be recorded against the Housing Parcel.

• The affordability restrictions for the Housing Improvements are set forth in the Notice of Affordability Restrictions and the Regulatory Agreement.

• The Notice of Affordability Restrictions and the Regulatory Agreement provide that to the extent that TCAC rents are higher than HCD rents, TCAC rents will govern.

More Definitions of Notice of Affordability Restrictions

Notice of Affordability Restrictions means the Notice of Affordability Restrictions on Transfer of Property, between the County and Developer in the form provided by the County, that will encumber the Housing Parcel upon transfer of the Property to Developer, and will restrict the development and operation of the Housing Parcel to affordable housing.

Notice of Affordability Restrictions means that certain Notice of Affordability Restrictions on Transfer of Property that will be recorded in the Official Records against the Affordable Developer's fee interest of the Affordable Development Parcel at the Affordable Development Close of Escrow and will restrict the development and operation of the Affordable Development Parcel to affordable housing in perpetuity, in in in a form to be provided by the Commission, pursuant to Sections 33334.3 and/or 33413(c)(5) of the Community Redevelopment Law, or successor provisions.

Notice of Affordability Restrictions means the notice to be executed by the parties in substantially the form attached hereto as Attachment No. 9 and incorporated herein, which shall recite the affordability restrictions and restrictions on transfer imposed on the Site by this Agreement, and the Regulatory Agreement, and which shall be recorded against the Site at the Closing for the Project, all as required by and in compliance with Health and Safety Code Section 33334.3(f)(3)(B).

Notice of Affordability Restrictions refers to the Notice of Affordability Restrictions in form as attached hereto as Attachment No. 8.

Notice of Affordability Restrictions means the Notice of Affordability Restrictions on Transfer of Property to be recorded against the Site, substantially in the form attached to this Agreement as Exhibit J of Part I of Exhibits.

Notice of Affordability Restrictions means a recordable instrument substantially in the form of Attachment No. 5.

Notice of Affordability Restrictions means the Notice of Affordability Restrictions Upon Transfer of Property to be recorded against the Property at Closing, substantially in the form attached hereto as Exhibit I and incorporated herein.