HOME Requirements Sample Clauses

HOME Requirements. (a) Borrower shall comply with all applicable laws and regulations governing the use of the HOME Funds as set forth in 24 C.F.R. Part 92. In the event of any conflict between this HOME Regulatory Agreement and applicable laws and regulations governing the use of the Combined County Loan funds, the applicable laws and regulations govern.
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HOME Requirements. The Borrower shall carry out the design, construction and operation of the Project, and operate the Program, in conformity with all applicable laws, regulations, and rules of governmental agencies having jurisdiction, including without limitation, the HOME Requirements and the legal requirements set forth in Exhibit No. [X] attached to this Agreement and the statutes referenced therein. For purposes of this paragraph, “HOME Requirements” mean the requirements of the HOME Investment Partnership Act, as amended (42 U.S.C. § 12741, et seq.), and the implementing regulations (24 C.F.R. § 92, et seq.), and the legal requirements summarized or referenced in Exhibit No. D attached hereto and incorporated herein by this reference. [Intentionally Omitted if inapplicable.]
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HOME Requirements. A new Attachment No. 18 shall be added to the OPA entitled HOME Requirements. The form of the new Attachment 18 is attached to this Second Implementation Agreement as Attachment 4. As a result of the HOME funding for the Subarea A Improvements, the Developer shall comply with and shall cause its contractors and all subcontractors to comply with the requirements of the Xxxxx-Xxxxx Act (40 U.S.C. 276 et seq.) in the construction of the Subarea A Improvements.
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HOME Requirements. 4.1 This Project must qualify as affordable housing under the Home Investment Partnerships Program, 24 CFR Parts 92.218, 92.219, 92.220, 92.221. Specifically, the following criteria apply: • Income targeting as defined at 24 CFR Parts 92.217 • Income determinations as defined at 24 CFR Parts 92.203. • Match requirements as defined at 24 CFR Parts 92.218, 219, 220, 221, 222 • Property standards as defined at 24 CFR Parts 92.251 • Single-family housing limitation defined at 24 CFR Parts 92.254(a)(1) • Purchase-price limitation defined at 24 CFR Parts 92.254(a)(2) • Project occupancy requirements defined at 24 CFR parts 92.254(a)(3) • Period of Affordability defined at 24 CFR Parts 92.254(a)(4) • The Period of Affordability for the home will be five (5) years based on the HOME per unit investment of $10,000.00. The Period of Affordability will begin after the Property is sold to RMCLT and to the Homebuyer. The loan affordability period will begin after the HOME affordability period ends and will continue until the loan is paid in full. • Resale/recapture provisions defined at 24 CFR Parts 92.254(a)(5) The above listed federal requirements can be accessed through HUD's web site: xxx.xxx.xxx/xxx/xxxx/xxxxxxx.xxxx.
Sample 1
HOME Requirements. 4.1 All HOME assisted units in the Project must meet the following requirements as outlined in Subpart F of the HOME regulations (24 C.F.R. Parts 91 and 92). Maximum per unit subsidy & subsidy layers - Section 92.250 Greccio further agrees to comply with the maximum per unit subsidy amount and subsidy layer requirements. It is understood between the parties that the maximum allowable HOME per unit subsidy limit is $63,012 for an efficiency, $72,230 for a one bedroom, $87,832 for a two bedroom and $113,624 for a three bedroom unit. The total costs involved for acquisition of the HOME- assisted units in this Project does not exceed the maximum allowable per-unit HOME subsidy. Property Standards - Section 92.251 & Lead Based Paint - 92.355 Greccio will ensure that the new construction meets all the Property standards for new construction as listed in Section 92.251, and the lead based paint requirements in Section 92.355 upon Project completion. Lead based paint will not be used in this Project. As owner of the Property Greccio must maintain the rental housing in compliance with Section 92.251 for the duration of the Affordability Period. Greccio will insure that the Property is maintained in compliance with applicable Housing Quality Standards and local housing and health code requirements for the length of the loan.
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HOME Requirements 
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Related to HOME Requirements

  • Requirements At its own expense, Supplier must maintain insurance policy(ies) in effect at all times during the performance of this Contract with insurance company(ies) licensed or authorized to do business in the State of Minnesota having an “AM BEST” rating of A- or better, with coverage and limits of insurance not less than the following:

  • Tax Requirements The Participant is hereby advised to consult immediately with his or her own tax advisor regarding the tax consequences of this Agreement. The Company or, if applicable, any Subsidiary (for purposes of this Section 28, the term “Company” shall be deemed to include any applicable Subsidiary), shall have the right to deduct from all amounts hereunder paid in cash or other form, any Federal, state, local, or other taxes required by law to be withheld in connection with this Award. The Company may, in its sole discretion, also require the Participant receiving shares of Common Stock issued under the Plan to pay the Company the amount of any taxes that the Company is required to withhold in connection with the Participant’s income arising with respect to this Award. Such payments shall be required to be made when requested by the Company and may be required to be made prior to the delivery of any certificate representing shares of Common Stock. Such payment may be made (i) by the delivery of cash to the Company in an amount that equals or exceeds (to avoid the issuance of fractional shares under (iii) below) the required tax withholding obligations of the Company; (ii) if the Company, in its sole discretion, so consents in writing, the actual delivery by the exercising Participant to the Company of shares of Common Stock other than (A) Restricted Stock, or (B) Common Stock that the Participant has not acquired from the Company within six (6) months prior to the date of exercise, which shares so delivered have an aggregate Fair Market Value that equals or exceeds (to avoid the issuance of fractional shares under (iii) below) the required tax withholding payment; (iii) if the Company, in its sole discretion, so consents in writing, the Company’s withholding of a number of shares to be delivered upon the exercise of the Stock Option other than shares that will constitute Restricted Stock, which shares so withheld have an aggregate fair market value that equals (but does not exceed) the required tax withholding payment; or (iv) any combination of (i), (ii), or (iii). The Company may, in its sole discretion, withhold any such taxes from any other cash remuneration otherwise paid by the Company to the Participant. * * * * * * * *

  • Insurance Requirements Vendor agrees to maintain the following minimum insurance requirements for the duration of this Agreement. All policies held by Vendor to adhere to this term shall be written by a carrier with a financial size category of VII and at least a rating of “A‐” by A.M. Best Key Rating Guide. The coverages and limits are to be considered minimum requirements and in no way limit the liability of the Vendor(s). Any immunity available to TIPS or TIPS Members shall not be used as a defense by the contractor's insurance policy. Only deductibles applicable to property damage are acceptable, unless proof of retention funds to cover said deductibles is provided. "Claims made" policies will not be accepted. Vendor’s required minimum coverage shall not be suspended, voided, cancelled, non‐renewed or reduced in coverage or in limits unless replaced by a policy that provides the minimum required coverage except after thirty (30) days prior written notice by certified mail, return receipt requested has been given to TIPS or the TIPS Member if a project or pending delivery of an order is ongoing. Upon request, certified copies of all insurance policies shall be furnished to the TIPS or the TIPS Member. Vendor agrees that when Vendor or its subcontractors are liable for any damages or claims, Vendor’s policy, shall be primary over any other valid and collectible insurance carried by the Member or TIPS. General Liability: $1,000,000 each Occurrence/Aggregate Automobile Liability: $300,000 Includes owned, hired & non‐owned Workers' Compensation: Statutory limits for the jurisdiction in which the Vendor performs under this Agreement. If Vendor performs in multiple jurisdictions, Vendor shall maintain the statutory limits for the jurisdiction with the greatest dollar policy limit requirement. Umbrella Liability: $1,000,000 each Occurrence/Aggregate

  • FINRA Requirements (A) You represent that you are a member in good standing of FINRA, or a non-U.S. bank, broker, dealer, or institution not eligible for membership in FINRA or a Bank.

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