Common use of USE AGREEMENT Clause in Contracts

USE AGREEMENT. An agreement or cov- enant which is executed and recorded in the appropriate land records in con- nection with an approved plan of ac- tion, has lien priority over other mort- gages and liens, is binding upon the owner and its successors and assigns, is enforceable by the Commissioner and by tenants, contains appropriate re- porting requirements, and restricts or governs the use and operation of the project with respect to rent levels and increases, relocation, and, where appro- priate, tenant eligibility, civil rights and other requirements. All tenants in occupancy at the time that the plan of action is approved will receive a copy of the use agreement.