Acceleration; Foreclosure. During the term of this lease and with RD approval, LANDLORD may make changes in basic and/or note rents in accordance with RD regulations. TENANTS will receive at least a 30-day notice prior to the effective date of the increase. Tenant contribution may be changed period to expiration of the lease if the change is due to changes in tenant status as documented on the Tenant Certification form or the Tenant’s failure to properly recertify. There will be no escalation in tenant contribution if rental assistance or interest credit is terminated due to the fault of management or the owner. There will be no escalation in tenant contribution during acceleration of the note or liquidation. Tenant contribution must remain as if interest credit and/or rental subsidy were still in place and available had acceleration not occurred. The terms of the lease will remain in effect until the date acceleration and/or foreclosure is resolved.
Appears in 3 contracts
Sources: Lease Agreement, Lease Agreement, Lease Agreement