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JAMBOREE HOUSING CORPORATION-2017
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JAMBOREE HOUSING CORPORATION-2017
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Last modified
2/13/2018 5:15:58 PM
Creation date
10/27/2017 2:24:43 PM
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Contracts
Company Name
JAMBOREE HOUSING CORPORATION
Contract #
A-2017-015
Agency
COMMUNITY DEVELOPMENT
Council Approval Date
2/7/2017
Expiration Date
2/29/2020
Insurance Exp Date
5/1/2018
Destruction Year
0
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federal income guidelines shall have their rents adjusted in accordance with <br />federal HOME guidelines (24 CFR 92.252-92.253). <br />(B) HOME assisted units continue to qualify as affordable housing despite a <br />temporary non-compliance caused by increases in the incomes of existing tenants <br />if actions satisfactory to HUD are being taken to ensure that all vacancies are <br />filled in accordance with this section until the non-compliance is corrected. <br />11.21 Other HOME Program Requirements. Developer shall comply with all <br />other applicable requirements of the HOME Program. <br />11.22 Controlling Covenants. If there is a discrepancy between State and <br />Federal law with regard to any of the aforementioned covenants, the more stringent shall <br />apply. <br />12. MAINTENANCE, MANAGEMENT, OPERATION, PRESERVATION <br />AND REPAIR OF PROPERTY <br />1.2.1 Maintenance. Developer shall maintain the Property (and all abutting <br />grounds, sidewalks, roads, parking and landscape areas which Developer is otherwise <br />required to maintain) in good condition and repair; shall operate the Property in a <br />businesslike manner; shall prudently preserve and protect its own as well as the City's <br />interests in connection with the Property; shall not commit or permit any waste or <br />deterioration of the Property (except for normal wear and tear); shall not abandon any <br />portion of the Property or leave the Property unguarded or unprotected; and shall not <br />otherwise act, or fail to act, in such a way as to unreasonably increase the risk of any <br />damage to the Property or of any other impairment of City's interests under the Loan <br />Documents. Without limiting the generality of the foregoing, and except as otherwise <br />agreed by City in writing from time to time, Developer shall promptly and faithfully <br />perform and observe each of the following provisions: <br />12.1.1 Alterations and Repair. Developer shall not remove, demolish or <br />materially alter any Improvement without City's prior consent, except to make non- <br />structural repairs which preserve or increase the Property's value, and shall promptly <br />restore, in a good and professional manner, any Improvement (or other aspect or portion <br />of the Property) that is damaged or destroyed from any cause. <br />12.2 Compliance. Developer shall comply with all laws and requirements of <br />Governmental Authority (including, without limitation, all requirements relating to the <br />obtaining of Governmental Authority approvals), all Governmental Authority approvals <br />and all rights of third parties, relating to Developer, the Property or Developer's business <br />thereon. <br />1.2.3 Taxes and Impositions. Developer shall pay, prior to delinquency, <br />all of the following (collectively, the "Impositions"): (a) all general and special real <br />property taxes and assessments imposed on the Property; (b) all other taxes and <br />assessments and charges of every kind that are assessed upon the Property (or upon the <br />owner and/or operator of the Property) and that create or may create a lien upon the <br />26 <br />
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