t between the parties hereto, and arty is bound by any representagreements of any kind except as herein. No changes in this Conbe made except in writing signed e Owner and the LHA. al interest. The Owner warrants as the legal right to execute this nd to lease the dwelling unit covis Contract. sing Authority 3 HOUSING ASSISTANCE PAYMENTS ROGRAM EXISTING HOUSING ASSISTANCE PAYMENTS CONTRACT- iscrimination in housing. a. Nei- wner shall comply with all re- law to redress any breach thereof or to compel compliance therewith by the Owner. 2.2. Cooperation in equal opportunity compliance reviews. The LHA and the Owner shall cooperate with the Government in the conducting of compliance reviews and complaint investigations pursuant to all applicable civil rights statutes, Executive Orders, and rules and regulations pursuant thereto. 2.3. Annual Contributions Contract a. The LHA has entered into an Annual Contributions Contract dated , with the Government, with respect to Project No.-- ("ACC"), under which the Government will provide financial assistance to the LHA pursuant to Section 23 of the United States Housing Act of 1937, for the purpose of making housing assistance payments, which ACC shall be provided by the LHA to the Owner upon request. b. The LHA hereby pledges such annual contributions payable under Section 1.3(b)(1) of Part I of the ACC to the payment of housing assistance payments pursuant to this and other Housing Assistance Payments Contracts entered into as a part of said Project. 2.4. LHA and government access to premises and owner's records. The Owner shall permit the LHA and the Government, or any of their duly authorized representatives, to have access to the Premises and, for the purpose of audit and examination, to have access to any books, documents, papers and records of the Owner that are pertinent to compliance with this Contract, including the verification of information pertinent to the monthly requests to the LHA for housing assistance payments. 2.5. Default by the owner. a. A Default by the Owner under this Contract shall result if: (1) the Owner has violated or failed to comply with any provisions of this Contract or of the Owner-Family Lease; or (2) The Owner has failed to perform any of its obligations under this Contract or under the Owner-Family Lease; or (3) The Owner has asserted or demonstrated an intention not to perform some or all of his obligations under this Contract or under the Owner-Family Lease. b. Upon the determination by the LHA that a Default has occurred, the LHA may notify the Owner that the LHA is terminating the Contract effective 30 days from the date of notice, unless within that period the Owner cures any non-compliance, or initiates a course of corrective action which will cure the non-compliance within such minimum additional time as may be necessary and agreed to by the LHA. If the LHA so notifies the Owner, it shall also send a copy of such notice to the Family, together with information regarding continued assistance. not exclusive and non- Except as otherwise prodispute concerning a quesising under this Contract sposed of by agreement of wner may be submitted by the U.S. Department of Urban Development field who shall make a decision or otherwise furnish a writof to the Owner and the of the governing body of the locality (city 2.9. Interest of member of or delegate to 2.10. Nonassignability. a. The Owner agrees that he has not made, and will not make any sale, assignment, or conveyance or transfer in any other form, of this Contract, or any of his interest therein, except with the prior consent of the LHA. The assignment by the Owner of the Contract to a limited partnership of which the Owner is the general partner shall not be considered an assignment herein. on of the field office director b. For the purpose of this Section, a transfer of stock in the Owner in whole or in part by a party holding ten percent or more of the stock of said Owner, or a transfer by more than one stockholder or the Owner of ten percent or more of the stock of said Owner or any other similarly significant change in the ownership of such stock or in the relative distribution thereof in or with respect to the parties in control of the Owner or the degree thereof, by any other method or means, whether by increased capitalization, merger with another corporation, corporate or other amendments, issuance of new or additional stock or classification of stock or otherwise, shall be deemed an assignment, conveyance, or transfer with respect to this Contract. The Owner agrees to notify the LHA promptly of any such proposed action and to request the written consent of the LHA in regard thereto. The Owner and the party signing this Contract on behalf of said Owner, represent that they have the authority of all of the existing stockholders of the Owner to agree to this paragraph on behalf of said stockholders and to bind them with respect thereto. NOTE: Appendix X is not included herein but does appear in the HUD Existing Hous est of members, officers, or em- x XI—SECURITY DEPOSIT AGREEMENT Housing Authority o pay on behalf of the family sit to Lessor it to it to al amount of deposits r before the effective date of the e entered into between the Family Lessor, the Family agrees to pay to the Housing Authority as a llment toward repayment of the ant for security, and/or utility deed in item 1 above, leaving a bal 'amily agrees to repay the stated y paying monthly installments of - the Lessor acting on behalf of ng Authority. These payments à on the first day of the second the lease, and they shall be in adthe Family's regular monthly ments to the Lessor. essor agrees to collect from the e monthly amounts specified in e and remit them to the Housing with the understanding, howevure on the part of the Family to mounts shall not affect the Lesto housing assistance payments Dayable to him by the Housing re of LHA Representative) nature of the Family Head) e of the Lessor Representative) me of each utility company to it is paid. amount equal to the lesser of Ith of the Total Amount of Dedin Item 1 above or (b) one ss family contribution. -nthly amount to be paid by the erally in the amount of one-eleve balance due. However, this subsequently be adjusted by Authority by reason of changes or rent-paying ability of the mendment of this Agreement. 803.201 Purpose and applicability. 803.202 Manner of publication. Schedule C Contract rent automatic annual adjustment factors (new construction and substantial rehabilitation) [Reserved]1 AUTHORITY: Sec. 7(d), Department of Housing and Urban Development Act (42 U.S.C. 3535(d); sec. 8 of the U.S. Housing Act of 1937 (42 U.S.C. 1408); sec. 10(b) of the U.S. Housing Act of 1937 (42 U.S.C. 1410(b)); and sec. 23 of the U.S. Housing Act of 1937 (42 U.S.C. 1421 b). SOURCE: 39 FR 25062, July 8, 1974. Redesignated at 40 FR 15580, Apr. 7, 1975, unless otherwise noted. Subpart A-Fair Market Rents § 803.101 Fair Market Rents for New Construction and Substantial Rehabilitation. applicability. (a) Purpose and Schedule A of this Part sets forth the fair market rents, as determined by HUD, for the Section 23 Housing Assistance Payments Program-New Construction 24 CFR Part 800 and Substantial Rehabilitation, 24 CFR Part 801. (See 24 CFR 800.102(a) and 801.102(c), respectively, for the definition of "fair market rent".) (b) Categories. These fair market rents are established by unit size (number of bedrooms) and basic structure type (i.e., detached, semi-detached/row houses, walk-up apartments and elevator apartments). (c) Geographic areas. The respective geographic areas to which these fair market rents apply are as specified in Schedule A. 'Schedule C Adjustment Factors will be published at a later date. § 803.102 Fair Market Rents for Existing Housing. (a) Purpose and applicability. Schedule B of this Part sets forth the fair market rents as determined by HUD, for the Section 23 Housing Assistance Payments Program—Existing Housing, 24 CFR Part 802. (See 24 CFR 802.102(b) for the definition of "fair market rent".) (b) Categories. These fair market rents are established by unit size (number of bedrooms) but without regard to basic structure type. (c) Geographic area. The fair market rents for existing housing are established by county as specified in Schedule B. Uniform schedules are established for (1) all counties within each standard metropolitan statistical area (as defined at the time of the 1970 census) with a population of over 250,000 and (2) counties within individual blocks of counties grouped by the U.S. Bureau of Census into entities with population of over 250,000 for purposes of special statistical summaries. § 803.103 Manner of publication. Schedule A and Schedule B fair market rents will be published in the FEDERAL REGISTER at least annually. Interim revisions may be published as market conditions dictate. Subpart B-Automatic Annual Adjustment Factors § 803.201 Purpose and applicability. Schedule C of this Part sets forth the Automatic Annual Adjustment Factors as determined by HUD, for the Section 23 Housing Assistance Payments Programs-New Construction and Substantial Rehabilitation. (See 42 CFR 800.103(g)(1) and 801.103(g)(1), respectively, for the definition and method of calculation of the Automatic Annual Adjustment Factors.) § 803.202 Manner of publication. Schedule C Adjustment Factors will be published in the FEDERAL REGISTER at least annually. Interim revisions (a) Purpose. This subpart sets forth the essential elements of the HUD Homeownership Opportunities Program for Low-Income Families (Turnkey III). (b) Applicability. This subpart shall be applicable to all Turnkey III developments, including those under development or in operation on the effective date of this subpart, as follows: (1) With respect to any development to be operated as Turnkey III, the Annual Contributions Contract (ACC) shall contain the "Special Provisions for Turnkey III Homeownership Op portunity Project" as set forth in Appendix I. A Turnkey III development may include only units which are to be operated as such under Homebuyers Ownership Opportunity Agreements. If for any reason it is determined that certain units should be operated as conventional rental units, such units must comprise or be made part of a conventional rental project. (2) With respect to Turnkey III developments pursuant to an executed ACC where no Agreements with Homebuyers have been signed, the ACC shall be amended (i) to include the "Special Provisions" set forth in Appendix I, (ii) to extend its term to 30 years, and (iii) to reduce its Maximum Contribution Percentage to a rate that will amortize the debt in 30 years at the minimum Loan Interest Rate specified in the ACC for the specific Turnkey III project involved. Further development and operation shall be in accordance with this subpart including use of the form of Homebuyers Ownership Opportunity Agreement set forth in Appendix II. (3) With respect to developments where Agreements with homebuyers have been signed, the following steps shall be taken: (i) The ACC shall be amended to include the Special Provisions" set forth in Appendix I; further development and operation of the Project shall be in accordance with this subpart. (ii) The LHA shall offer all qualified homebuyers in the development a new Homebuyers Ownership Opportunity Agreement as set forth in Appendix II with an amendment to section 16a to refer to "the latest approved Development Cost Budget, or Actual Development Cost Certificate if issued," in lieu of "the Development Cost Budget in effect upon award of the Main Construction Contract or execution of the Contract of Sale," and, if the ACC for the Project has a term of 25 years, an amendment to section 16(b) to refer to a term of 25 years, instead of 30, for the Purchase Price Schedule. Each Purchase Price Schedule shall commence with the first day of the month following the effective date of the initial Agreement. No other modification in the new Agreement may be made. |