Eligible Household definition
Examples of Eligible Household in a sentence
The Property may not be sold or otherwise transferred to any person other than an Eligible Household and subject to the calculation of the Maximum Sales Price in accordance with Section 5 and the provisions of this Deed Restriction.
The Property may not be sold or otherwise transferred to any person other than an Eligible Household in accordance with the procedures for prior verification contained in Section 4 below and pursuant to all provisions within this Deed Restriction.
The monthly rent charged to a tenant of a Restricted Unit, including an allowance for any utilities and services required to be paid by the tenant, shall not exceed thirty percent (30%) of the maximum monthly income permissible for an Eligible Household, adjusted for a family size equal to the number of bedrooms in the Unit plus one, unless other affordable program rent limits approved by EOHLC shall apply (“Maximum Monthly Rent”).
Owner is subject to Annual Compliance Recertification confirming and verifying the Owner’s continued eligibility as an Eligible Household and its compliance with this Agreement.
Owner covenants that any lease of the Property shall include a reference that such lease is subject to the terms and conditions of this Deed Restriction and ACHP, including but not limited to restrictions on the use and occupancy of the Property and cooperation on providing required documentation for verification of Eligible Household and Primary Residence status, as defined in Section 2.