Market Rate Unit definition
Examples of Market Rate Unit in a sentence
During sale transactions, the Preliminary Change of Ownership Report must properly identify each Below Market Rate Unit as a transfer subject to governmentally imposed restrictions.
Each Vertical Developer shall pay (or cause payment) to the Community Benefits Fund upon the close of escrow of the initial sale to an Owner/Occupant of each Market Rate Unit an amount equal to one-half of one percent (0.5%) of the sale price of such Market Rate Unit.
If the Project consist of both Affordable Units and Market Rate Units, the Annual Payment shall consist of the Affordable Unit Annual Payment plus the Market Rate Unit Annual Payment.
One Million Five Hundred Twenty Thousand ($1,520,000.00) Dollars calculated based on obtaining Approvals to construct ninety-one (91) Market Rate Units at Sixteen Thousand ($16,703.33) per Market Rate Unit.
Without limiting the generality of the foregoing, if any of the Restrictive Covenants, or any part thereof, is held to be unenforceable because of the duration of such provision or the area covered thereby, the parties hereto agree that the court making such termination shall have the power to reduce the duration and/or area of such provision and, in its reduced form, such provision shall then be enforceable.