HAP Contract Clause Samples
The HAP Contract, or Housing Assistance Payments Contract, is a legal agreement between a public housing agency and a property owner that governs the terms under which rental assistance is provided to eligible tenants, typically under programs like Section 8. This contract outlines the responsibilities of both the landlord and the agency, including payment procedures, property standards, and tenant eligibility requirements. By clearly defining these obligations, the HAP Contract ensures that rental assistance is administered fairly and consistently, protecting the interests of both tenants and property owners while ensuring compliance with federal housing regulations.
HAP Contract. Concurrently with Initial Closing, the Partnership shall obtain the HAP Contracts covering all 226 units in the Apartment Complex for 20 years and on other terms and conditions as AHF Consents. If there are Operating Deficits due to a termination, amendment or modification of the HAP Contract or loss in rental assistance under the HAP Contract for any reason, then, whether or not the Initial Period has expired, Wichita GP shall provide Operating Deficit Loans until the expiration of the Compliance Period and no ODG Cap shall apply.
HAP Contract. Disbursements pursuant to the HAP Contract shall be made according to the terms of the HAP Contract during the term thereof and this Agreement. Annually during the term of the HAP Contract, not later than thirty (30) days prior to the commencement of Developer’s fiscal year, Developer shall submit to Authority a Certification of Continuing Program Compliance in a form provided by Authority and Agency certifying that Developer is in compliance with all requirements set forth in this Agreement and the Regulatory Agreement.
HAP Contract. Project Based Section 8 Housing Assistance Payment Contract, if applicable, which shall be executed at Closing, in the form of Attachment F. (Any reference to “HAP Contract” in the singular may be in the Plural.)
HAP Contract. Borrower hereby agrees to notify Bondowner Representative as soon as possible after Borrower commences communication with the United States Department of Housing and Urban Development or any agent thereof (“HUD”) in connection with any housing assistance payment contract relating to the Project, including without limitation, contracts for project based housing assistance payments made pursuant to Section 8 of the United States Housing Act of 1937, as amended (each a “HAP Contract”). Borrower further agrees that (i) Bondowner Representative (and its counsel) shall be given a reasonable opportunity to review and provide comments on any draft HAP Contract prior to its execution and delivery by the parties thereto, and (ii) concurrently with the execution and delivery of any HAP Contract, Borrower shall execute and deliver to Bondowner Representative, in form and substance satisfactory to Bondowner Representative, an absolute, unconditional and irrevocable assignment of Borrower’s right, title and interest in, to, and under such HAP Contract, together with the right and power to enforce the same. Borrower shall not modify, terminate or surrender any HAP Contract without the prior, written consent of Bondowner Representative, which consent shall not be unreasonably withheld.
HAP Contract. (a) The occurrence of a default by Borrower under the AHAP Contract or the HAP Contract that is not cured within the cure period set forth in such document, or the failure of satisfaction by Borrower of all conditions precedent to the availability of Section 8 Payments for the Project as set forth in the AHAP Contract or the HAP Contract, (b) the withdrawal of consent by the Contract Administrator to the assignment of the AHAP Contract, the HAP Contract or the Section 8 Payments in favor of Bondowner Representative which is not cured within thirty (30) days thereafter, or (c) the amendment, reduction, modification, termination, rescission or cancellation of the AHAP Contract, the HAP Contract or the Section 8 Payments without the prior written consent of Bondowner Representative.
HAP Contract. This lease has been signed by the parties on the expectation that the PHA will promptly execute a HAP contract with the Landlord. This lease shall not become effective unless the PHA has executed a HAP contract with the Landlord effective the first day of the term of the lease.
HAP Contract. The contract entered into by the Project Owner and the contract administrator that sets forth the rights and duties of the parties with respect to the Covered Project and the payments under the contract.
HAP Contract. The housing assistance payments contract between the PHA and the owner. The PHA pays housing assistance payments to the owner in accordance with the HAP contract.