HAP Contracts Clause Samples

HAP Contracts. (Section 8). 1. Modifications to Multifamily Loan and Security Agreement – Addenda to Schedule 2 – Summary of Loan Terms (Section 8 HAP Contract) (6102. 2. Modifications to Multifamily Loan and Security Agreement (Section 8 HAP Contract) (6216). 3. Choose only the applicable one: (a) Assignment of Housing Assistance Payments Contract (6403). (b) Assignment of Housing Assistance Payments Contract (Credit Enhancement) (6404). 4. Choose only the applicable one: (a) Consent to Assignment of HAP Contract to FNMA as Security for FNMA Credit Enhancement (6411). (b) Consent to Assignment of HAP Contract as Security for FNMA Financing (6412). 5. When a Rent Restabilization Reserve is required: (a) Modifications to Multifamily Loan and Security Agreement – Addenda to Schedule 2 – Summary of Loan Terms (Restabilization Reserve) (6102.18). (b) Modifications to Multifamily Loan and Security Agreement (Restabilization Reserve) (6233). 6. For use when the Mortgaged Property is encumbered by an agency regulatory agreement or recorded use restriction under which all or a portion of the residential units are restricted for occupancy by tenants with limited incomes and which restricts the rents that can be charged for those units: (a) Modifications to Multifamily Loan and Security Agreement – Addenda to Schedule 2 – Summary of Loan Terms (Rent Restriction Agreement - Scorecard Exclusions for Affordable Housing) (6102.23). (b) Modifications to Multifamily Loan and Security Agreement (Rent Restriction Agreement - Scorecard Exclusions for Affordable Housing) (6253). 7. Section 8 Housing Assistance Payments (HAP) Contract Review Sheet and Certification (6422).

HAP Contracts. The HUD Housing Assistance Payments contracts pertaining to the 19 properties which are subject to the Management Contracts. HUD - The United States Department of Housing and Urban Development or any successor organization. HUD MANAGEMENT PROPERTIES - Shall have the meaning set forth in Article III. IMMEDIATE FAMILY - A Person's Immediate Family includes the Person's spouse, children (including natural, adopted and stepchildren) and grandchildren, or trust exclusively for the benefit of any of the foregoing.

HAP Contracts. Within thirty (30) days of this Ground Lease, Lessor shall enter into the PBV HAP Contracts with Lessee for the units indicated in Exhibit F (the "HAP Contracts"). The HAP Contracts funds shall be expended only for the permitted uses as provided in this Article 4. The Authority shall make monthly housing assistance payments (each, a "HAP Payment") to the Lessee in accordance with the HAP Contracts.