HOME Term definition

HOME Term means the term of this HOME Regulatory Agreement which commences as of the date of this HOME Regulatory Agreement, and unless sooner terminated pursuant to the terms of this HOME Regulatory Agreement, expires on the sixteenth (16th) anniversary of the Completion Date; provided, however, if a record of the Completion Date cannot be located or established, the HOME Term will expire on the eighteenth (18th) anniversary of this HOME Regulatory Agreement.

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HOME Term means the term of this HOME/HOPWA Regulatory Agreement which commences as of the date of this HOME/HOPWA Regulatory Agreement, and unless sooner terminated pursuant to the terms of this HOME/HOPWA Regulatory Agreement, expires on the twenty-first (21st) anniversary of the Completion Date; provided, however, if a record of the Completion Date cannot be located or established, the HOME Term will expire on the twenty-third (23rd) anniversary of this HOME/HOPWA Regulatory Agreement.

HOME Term means the period beginning on the date of this Agreement and ending on the twentieth (20th) anniversary of the date of this Agreement.

Examples of HOME Term in a sentence

The County will perform on-site inspections of the Development during the HOME Term to ensure compliance with the Maintenance Standards.
The County will perform an on-site inspection within twelve months after completion of construction of the Development and at least once every three (3) years during the HOME Term.
In the event there is a foreclosure of the Property, this HOME Regulatory Agreement will revive according to its original terms if, during the HOME Term, the owner of record before the foreclosure, or deed in lieu of foreclosure, or any entity that includes the former owner or those with whom the former owner has or had family or business ties, obtains an ownership interest in the Development or Property.
In the event of a conflict between this HOME Regulatory Agreement and the County Regulatory Agreement during the HOME Term as it applies to the HOME- Assisted Units, the terms of this HOME Regulatory Agreement will prevail.
Compliance with the terms of this HOME Regulatory Agreement will be deemed compliance with the County Regulatory Agreement during the HOME Term as it applies to the HOME-Assisted Units.
The County and Borrower hereby declare their express intent that the covenants and restrictions set forth in this HOME/HOPWA Regulatory Agreement run with the land, and bind all successors in title to the Property, provided, however, that on the expiration of the HOME Term said covenants and restrictions expire.
The County Regulatory Agreement as it applies to the HOME-Assisted Units will be in effect for fifty-five (55) years from the Completion Date which term overlaps with but is longer than the HOME Term.
The County and Borrower hereby declare their express intent that the covenants and restrictions set forth in this HOME Regulatory Agreement run with the land, and bind all successors in title to the Property, provided, however, that on the expiration of the HOME Term said covenants and restrictions expire.
Borrower is subject to the audit requirements set forth in 24 CFR 92.505 during the HOME Term.
In the event there is a foreclosure of the Property, this HOME/HOPWA Regulatory Agreement will revive according to its original terms if, during the HOME Term, the owner of record before the foreclosure, or deed in lieu of foreclosure, or any entity that includes the former owner or those with whom the former owner has or had family or business ties, obtains an ownership interest in the Development or Property.

More Definitions of HOME Term

HOME Term means the period beginning on the date of this Agreement‌ and ending on the fifteenth (15th) anniversary of the Completion Date.

HOME Term means the period beginning on June 17, 1997 and ending on June 20, 2017.

HOME Term means the period expiring on October 27, 2023.

HOME Term means the period beginning on the date of this Agreement and ending on the twentieth (20th) anniversary of the Completion Date. After the expiration of the HOME Term, for the purpose of the HOME Regulations, the Development will no longer be considered an existing HOME assisted rental project.