5G Consent - Laserfiche WebLink

Home

iv Section 5.5. Project Homekey Grant. Lessor shall be entitled to the disbursement of such portion of the Project Homekey Grant as Lessor determines is necessary for payment of the full amount of the costs of Lessor’s acquisition of the Leased Premises. Lessee shall be entitled to receive the remaining amount of the Project Homekey Grant from the Project Homekey Agreement as necessary for payment of costs of the construction and rehabilitation of the Improvements. If necessary, Lessee shall apply to the State for disbursements of the remaining funds, and Lessor shall cooperate with and assist Lessee and deliver approvals to the State, to the extent required in order to obtain the remaining portion of the Project Homekey Grant from the State for the foregoing expenses. ......................................................................13 ARTICLE 6. operation of project ..............................................................................................14 Section 6.1... Use. For the entire Term of this Ground Lease, the Leased Premises shall be used for the development and operation of the Project in accordance with the terms and conditions of this Ground Lease, the Project Homekey Agreement and the Regulatory Agreement............................................................14 Section 6.2....... Compliance with Project Homekey Agreement. The Parties agree that, regardless of whether Lessor is jointly or solely responsible for performance of the requirements of the Project Homekey Agreement under the terms of that agreement, Lessee shall perform all of the requirements of the Grantee under the Project Homekey Agreement, for so long as the Ground Lease is in effect and Lessee is the lessee under that agreement, and Lessor shall not be responsible for performance of such obligations. Such requirements to be performed by Lessee shall include, without limitation, compliance with maximum income and rent requirements, meeting all program deadlines, compliance with all rent standards, use in accordance with eligible uses, compliance with all performance milestones, preparation and submission of all required reporting, compliance with all conditions of disbursement of the Homekey Grant, compliance with prevailing wage laws, liability for environmental requirements, insurance requirements, relocation requirements, and adaptability and accessibility requirements, submission and compliance with the property management plan, supportive services plan and affirmative fair housing marketing plan, compliance with fair housing requirements, and compliance with record retention, inspection and audit requirements. ..........................................................................................................14 Section 6.3..................................... Non-Discrimination; Compliance with Fair Housing Laws. .....................................................................................................................14 ARTICLE 7. ASSIGNMENT AND TRANSFER .....................................................................15 Section 7.1. Procedure for Assignment and Transfer. The qualifications and identity of Lessee are of particular concern to Lessor. It is because of those qualifications and identity that Lessor has entered into this Ground Lease with Lessee. Except as otherwise provided below, during the Term of this DRAFT