LURC definition

LURC means the Declaration of Land Use Restrictive Covenant for Low-Income Housing Tax Credits that is a recorded agreement between GHFA and the Owner. The LURC is binding upon the Owner and its successors in interest, and that encumbers the project with respect to this Plan and the requirements of Section 42 of the Code.

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LURC means the Declaration of Land Use Restrictive Covenant for Low-Income Housing Tax Credits that is a recorded agreement between GHFA and the Owner. The LURC is binding upon the Owner and its

LURC means the “Certificate of land use right and ownership over the residential houses and other property attached to land” issued by a competent authority to the Buyer in respect of the Apartment in accordance with the laws on land;

Examples of LURC in a sentence

Approved LURC Stetson Wind II, LLC Development Permit DP 4818, T8 R4 NBPP, Washington County, issued March, 4, 2009.
Approved LURC Zoning Petition ZP 713 and Preliminary Development Plan, T8 R3 NBPP and T8 R4 NBPP, Washington County, issued November 7, 2007.
The Buyer holds one (01) copy in each language; the Seller holds three (03) Vietnamese copies and one (01) English copy for the purposes of storing, carrying out procedures for payment of taxes and fees and procedures for issuance of LURC to the Buyer.
If the Buyer fails to do so, the Seller has the right to withhold the LURC to recollect the overdue amount.
The Buyer is obliged to pay value added tax, registration fee, taxes, fees and charges related to the issuance of the LURC in accordance with the laws when carrying out procedures applying for the LURC for the Buyer and during period of ownership, enjoyment/use, transfer of the Apartment from the date on which the Buyer takes over the Apartment.
The Trustee is authorized and directed, without requiring any additional documentation, to record this Agreement in the conveyance records of East Baton Rouge Parish, and, in accordance with specific detailed written instructions from LURC to the Trustee, to execute on behalf of the Trust, and, after execution, to file with the LPSC, all documents and forms, if any, required to be filed in accordance with applicable law or the rules and regulations prescribed by the LPSC.
The amount of all Mandatory Redemptions to replenish the DSRS will be limited to a total aggregate of $5 million over the life of the LURC Bonds (the “DSRS Redemptions Cap”).
The Trustee shall invest the Trust Estate pursuant to written directions from an Authorized Officer of the LURC, the security procedures for which are set forth in Exhibit E hereto.
The calculation of the DSRS Redemptions Cap is not affected by, nor does the DSRS Redemptions Cap apply to, any Mandatory Redemption that occurs because of a payment default on the LURC Bonds.
Upon the contribution of the LURC Bond Proceeds to the Trust, ELL and the LURC shall be the sole beneficiaries of the Trust.

More Definitions of LURC

LURC has the meaning ascribed to such term in the preamble to this Agreement.

LURC means land use restricted conditions.

LURC means the Declaration of Land Use Restrictive Covenants for the Project. “Manager” means qk.

LURC means the Declaration of Land Use Restrictive Covenants relating to the Property; “Property” means the real property in qq County, Georgia, more particularly described in the attached Exhibit A; “Security Deed” means the deed to secure debt from Borrower to GHFA, conveying the Property as collateral for the Loan*; and “Tax Credit Documents” means the partnership agreement of Borrower and any other agreement or instrument evidencing or relating to the agreement of the sale of low-income housing tax credits by ▇▇▇▇▇▇▇▇.