Common use of Existing Tenants Clause in Contracts

Existing Tenants. Borrower shall provide the County a written report of the income and rent amount of all Existing Tenants within thirty (30) days of rehabilitating the Residence. Borrower shall not implement any rent increases for Existing Tenants upon acquisition of the Residence without the approval of the County. Any Existing Tenant lawfully residing in the Residence as of the date of this Agreement is entitled to remain a resident of the Residence if such Tenant does not meet the income criteria of this Section 2.1. If and when such non-qualifying Existing Tenant voluntarily vacates the Unit, Borrower shall rent such Unit to a Low Income Household to meet the provisions of this Section.

Existing Tenants. Borrower shall provide the County a written report of the income and rent amount of all the Existing Tenants within thirty (30) days of rehabilitating acquisition of the Residence. Borrower shall may not implement any increase Existing Tenants’ rent increases for Existing Tenants upon acquisition completion of the Residence Rehabilitation without the approval of the County. Any Existing Tenant lawfully residing in the Residence as of the date of this Agreement is entitled to remain a resident of the Residence Residence, even if such the Tenant does not meet the income criteria of this Section 2.1. If and when such a non-qualifying Existing Tenant voluntarily vacates the UnitResidence, Borrower shall rent such Unit the Residence to a Low Income Household to meet satisfy the provisions terms of this SectionSection of this Agreement.