NSLC definition
Examples of NSLC in a sentence
If the Contractor or Property Owner experiences problems that may delay the completion of the Project beyond the six (6) month period, the Property Owner must immediately notify NSLC in writing.
NSLC may request a written status update on the Project at any time.
The Urban Redevelopment Authority will then issue a check to the NSLC for the Grant amount.
Regardless of how the property is characterized, the Property Owner may choose to make improvements that have been approved by NSLC that would exceed the Grant, as well as the Property Owner’s Match.
If the Property Owner fails to complete a Project within the allotted time, NSLC has the right to rescind the Grant Letter.
For any approved Project, the Property Owner must remit the Match to NSLC before work on the Project can begin.
NSLC also has the right to offer an extension to the Property Owner upon written request.
Should any information contained herein subsequently become untrue or incorrect, the Property Owner shall promptly inform NSLC in writing, with specificity, as to that item or those items of information which are no longer true and correct and explaining the state of facts giving rise to such change.
The NSLC will then make the Disbursement directly to the Contractor or to the Property Owner in the event the Property Owner undertakes the Project himself or herself.
NSLC may make payment of a Grant directly to the Contractor for completed project costs incurred during completion of the Project on the Property Owner’s behalf.