Lease Requirements. 11.1 Reference is made to that certain Lease Agreement dated December 1, 2019, between Xxxxx X. Salt, as Trustee of Building 710 Land Trust, and Grantee, as Tenant (the “Lease”). Grantee represents and warrants to the CRA that: (a) the Lease is a bona fide arm’s length Lease; (b) the Lease is in full force and effect; (c) the copy of the Lease provided to the CRA by the Grantee is a true, complete, and correct copy thereof; (d) neither Grantee or Landlord is in default of its respective obligations thereunder; (e) there has been no sublease, license, concession, or other agreement, written or oral, with respect to the premises (as defined in the Lease) and (f) Grantee has not assigned, transferred, conveyed, mortgaged, hypothecated, deeded in trust, or encumbered the Lease, and shall not mortgage or otherwise hypothecate the Lease without the prior written consent of the CRA. In the event the Lease is terminated, assigned (in whole or in part) or there is a sublease of the premises (in whole or in part) during the term of this Agreement or during the five (5) year period following completion of the Project, such shall be considered a material default of this Agreement and all funding or Grant disbursements shall immediately terminate and the Grantee agrees to immediately pay to the CRA one hundred percent (100%) of the Grant received through the Program. Grantee agrees to simultaneously provide the CRA with copies of any correspondence alleging a default by either party or both under the Lease, as well as any correspondence terminating the Lease.
Lease Requirements. The Improvements when completed, will comply with all requirements and conditions set forth in the Lease and all other conditions and requirements of the Operative Documents.
Lease Requirements. Lessor and Lessee shall comply with all provisions of Exhibit B entitled Lease Requirements which is incorporated herein for all purposes.
Lease Requirements. Prior to rental of any of the Property, the Developer shall submit a standard lease form to the City and Authority for its approval. The City and Authority and shall reasonably approve such lease form upon finding that such lease form is consistent with this Agreement and contains all of the provisions required pursuant to the HOME Program and the HOME Regulations. The Developer shall enter into a written lease, in the form approved by the City and Authority, with each tenant of the Property. No lease shall contain any of the provisions which are prohibited pursuant to Section 92.253 of the HOME Regulations.
Lease Requirements. Prior to disbursement of the City Loans, the Developer shall submit a standard lease form to the City for its approval. The City shall reasonably approve such lease form upon finding that such lease form is consistent with this Agreement and contains all of the provisions required pursuant to the HOME Program and the HOME Regulations. The Developer shall enter into a written lease, in the form approved by the City, with each tenant of the Property. No lease shall contain any of the provisions which are prohibited pursuant to Section 92.253 of the HOME Regulations.
Lease Requirements. Prior to execution of any Leases after the date hereof, Grantor shall submit to Beneficiary, for Beneficiary's prior approval, which approval shall not be unreasonably withheld so long as no Default exists hereunder, a copy of the form lease Grantor plans to use in leasing space in the Improvements. Each Lease executed after the date hereof affecting any of the Land or the Improvements must provide, in a manner approved by Beneficiary, that (i) such Lease is subject and subordinate to this Deed of Trust, and (ii) the Tenant will attorn to, and recognize as its landlord, lessor or licensor, any person succeeding to the interest of Grantor in such Lease upon any foreclosure of this Deed of Trust or deed in lieu of foreclosure. Each such Lease shall also provide that, upon request of said successor-in-interest, the Tenant shall execute and deliver an instrument or instruments confirming its attornment as provided for in this Section; provided, however, that neither Beneficiary nor any successor-in-interest shall be bound by any payment of rental for more than one (1) month in advance, or any amendment or modification of said Lease made without the express written consent of Beneficiary or said successor-in-interest. No Lease shall contain any option or right of first refusal to purchase all or any portion of the Property. No Lease shall contain any right to terminate the term thereof (except in the event of the destruction of all or substantially all of the Property).
Lease Requirements. All Leases shall be written on such standard form lease (without any material changes unless re-submitted for Lender's approval, which approval shall not be unreasonably withheld or delayed) as is attached as Exhibit C to the Receipt and Closing Certificate of even date herewith, if any, and shall be on arms length terms, shall provide for free rent only if the same is consistent with prevailing market conditions and shall provide for market rents (including Security Deposits, if any) then prevailing in the market area of the Real Estate or as reasonably determined by Borrower suing prudent business practices; provided, however, (x) Borrower shall be permitted to offer leasing incentive consistent with its ordinary business and marketing practices and those of its affiliates, and (y) Borrower shall be permitted to allow month-to-month tenancies without obtaining written Lease renewals following the expiration and pursuant to the terms of written Leases. Notwithstanding the foregoing sentence and the provisions of Section 1.12(b) below, Borrower shall be permitted to offer Leases to Sun Home Services, Inc. ("SHS"), an affiliate of borrower, utilizing form leases similar to that attached as Exhibit C to the Receipt and Closing Certificate of even date herewith, but such leases may provide for (i) term lengths and rental amounts to be determined by Borrower in its sole discretion, in the case of leases of sites on which SHS wishes to place model homes, and (ii) the right of the lessee to sublease, in the case of leases of sites on which SHS wishes to place a manufactured home and lease such home and sublease the underlying site to a resident. Borrower shall also submit to Lender for Lender's approval, prior to the execution thereof, any proposed Lease, license or occupancy agreement of the pad sites, clubhouse or other improvements or any portion thereof that differs materially and adversely from the aforementioned form lease. Except as otherwise provided herein, Borrower shall not execute any Lease, license or occupancy agreement except for an actual occupancy by the tenant, lessee or licensee thereunder. No Lease shall contain any option or right of first refusal to purchase all or any portion of the Property.
Lease Requirements. Lessee shall have executed and delivered to Purchaser the following: (a) the Lessee Acknowledgement, including the certification described in Section 14.2.c.ii of the Lease, (b) the certificate of insurance and broker’s letter described in Section 14.2.c.iii of the Lease, (c) the opinion of counsel described in Section 14.2.c.iv of the Lease and (d) the Fourth Amendment to Lease, and Lessee shall have complied with its other obligations under Section 14.2 of the Lease.
Lease Requirements. Each occupied unit shall be subject to a Lease, on a form approved by the Owner and the Authority or on the Authority approved lease form, signed by all the adults occupying the unit. All occupants of a unit must be named on the lease for that unit. If a tenant moves into a unit on any other day of the month besides the first, the Agent agrees to prorate the first month’s rent collected from the tenant. The Agent shall provide the Authority access to all of the documents received by the Agent as required by this paragraph and Section 5.d.
Lease Requirements. Before you can be given a Lease: (1) You must submit a completed Lease Agreement,
