GRRP definition
Examples of GRRP in a sentence
HUD has approved the Sources and Uses for the overall transaction attached hereto as Exhibit D (the “Sources and Uses”) and confirms that the Source and Uses comply with the Financial Thresholds set forth in the GRRP Notice, or as otherwise approved by HUD.
The Owner will comply with all other reporting requirements from time to time established by HUD, in its sole discretion, in connection with GRRP.
Owner shall submit updated Sources and Uses with the Completion Certification and HUD shall review to confirm that the Sources and Uses comply with the Financial Thresholds in the GRRP Notice.
All notices required by GRRP Requirements relating to the Project have been timely provided to such persons and in a manner complying with applicable GRRP Requirements.
Concurrent with, or prior to, execution of this Agreement, HUD and the Owner will enter into a GRRP Use Agreement, which will be recorded as a restrictive covenant on the Project in accordance with the GRRP Notice.
Identity of Interest relationships between the Owner and the developer or general contractor of the GRRP funded activities and development fees or contractor profit approved by HUD shall not constitute a conflict of interest under this Section.
HUD may grant an exception to the prohibition in paragraph (a) of this Section on a case-by-case basis when it determines that such an exception will serve to further the purposes of GRRP and its effective and efficient administration.
Owners must ensure compliance with the URA in addition to all requirements set forth in Section 8 of the GRRP Notice.
Any capitalized term not defined herein shall have the meaning given in the GRRP Notice.
Nothing in this Agreement may be construed as conferring the status of third-party beneficiary upon the residents; and in no event shall any entity other than the Owner have direct rights to the GRRP funds provided for under this Agreement.