Laserfiche WebLink
cornpliarlce ?vitll the Ianaget?exlt Flan ?vllicll is appraved by the Agency, The Agency ller•eby <br />approves Related Nia??aemerlt ornpany, L,P. ?? file Proper;ty anager• far` each Phase of fire <br />Re?ltal Portion, <br />If file Agency deternlirles filet file peg#fo?4ance of file Pr'aper'ty ?atlage?# as to a <br />pai?ticula?? Fhase is deficient based open the standards set forth in the anaen?rent Flan a?ld in <br />thrs Agreenlent, the Aex?cy shall provide notice to the Developer of s?cll deficiencies, atld file <br />Developet• shall ??se its best effar'tS to cor?•ect s??ch deficierlcies. Irl the event that Stich <br />deficrerlcres have net been c?zt`ed ?vitl?it? file tune set far?th rn ect?o?? a?, file Agency shall have <br />the night to r?er?i?•e the Developer• to irnrnediately ret?love atld replace file Pr+opert? N?anaer• for <br />such Phase ?vitll another prope??ty tllazlaet• or praperty rna?laeme?lt cotnptly ?vhicll iS <br />reasarlably acceptable to the Agetlcy, ?vllich is not related to or affiliated ??rth the Developer, alyd <br />?vllieh has not less than five ?S} years experietlce ??? p?•operty tnarlagernent, i?lclr?ding s?gnifica?lt <br />exper?e?lce ?naC?aglt?g llousrng facrlrt?es of file s?ze? quality and scope of the applicable Pllse of <br />tl?e Rental I°ar•?ian of the Pro ject? <br />4????? ?o?ri?orirrg allc? ecarcikceping. Th?'ot?llout file Affordability Period, <br />Develope?• shall co?nply ?vitll all applicable reco?`d?eepitlg arld rnanitar?itl regtrire?nent set forth <br />ill Health at?d Safety bode Sectioil 3418 a?ld s?lall antr«ally car?lplete and submit to file Agency <br />a report, prior• to ?atluary ?atl? of each year, far each Phase of file Retltal Fortiori ?l1iCh incllydes <br />fire name, address, inco?ne atlcl age of each accupatlt of a Rental Unlit, the bedroom count and <br />atltl?ly P.e??t fat` st?cll Rental Ilrlrt. The Agency a?•ees filet the Developer tray st?b?l?it reporting <br />for{nls p?•epared and st?brnitted i?l ear?t?eet?on with a?ly other similar t'epo??titlg r•egt?iriernent, <br />1trClt?d?ng 1'epar'ts prepared fog` tax ?1'?dlt co?npllarlce, to file ???terlt those for•rl]s cantalll file <br />itrforrnatiarl required herer?nder. Representatives of file Agency shall be entitled to etlter eaell <br />Phase of the Rental Por•tiorl of the Praect, l?potl at least seve?lty-tea ?7?} llot??'s prior ?ritterl <br />?latice, to ?r?o?litor` cotnplra?lce ?v??ll tills A?•een?etrt, to inspect the r?C?rds, and to conduct an <br />i?ldepe?lderlt atrdit ar' r?lpect?o?l of such t`ecords, The Develope?? agrees to cooperate with the <br />Agency in nlakirlg each Phase of the Re?ltal Portia?l of the Project available foci such inspectiotl <br />or ar?dit• Tile Developer agrees to rnaintaiil records in a bt?sirlesslike lllanne?•, old to rnrntarrl <br />such reca?•ds for the terrn of this Areernelltf <br />4D?,11 Reguiafa??y AgreetYirit alld Natice of .Affor?dabiii?y ?estrictin??s, The <br />requrrenlerltS of this A?•eenlent ?vlrlcil are applicable to the Rental Portion of the Pro ject after the <br />canveyat?ce of the Site to the Developer a?•e set forth in each Regulatory Agr•ee?llent. <br />Additionally, the l?evelaper shall record a Notice of Affordability Restrictions on Transfer of <br />Pr•oper•ty ?`?otice of Affo??dablllty Restrictions"} as to each Phase of the Rental Portiotl of file <br />Project in the fox`?n attached llereta as Attachment l? and itlcat•ported ller'ein by this z'eference, <br />?vhicll shall rr?n with tale laud and shall be enforceable against arly owner ?vho violates a covenant <br />or restrictiarl and each successor i?l inter`est ?vho contirirres file violation pt?rst?ant thereto The <br />exectrtian of a Regulatory Agr•ecrnen.t acrd the Developer's exct?tiorl of a Natice of Affo?•dabllrty <br />Ret?`1Ctlons rs a olldrtro?l precedent to file las?I?g far` a Phases as Set fo?`th ltl eCtlor12a4, The <br />Age??cy shall st?bardinate this Agr`cen?ent, each Regulatory ,Agreetnerlt and Natice of <br />Affordability Restrictio?ls to file construction and pern?ar?ent financing approved pt?rst?atlt to <br />Section ? f ?. ? by the execution of a rthorditratio?l agreerne?lt in a for•??n deter?nined to be <br />a•easonably acceptable to file ?xeer?tive Director <br />???????? ????'???'1 ????????-??? ?