Common use of Additional Agreements; Covenants Running with the Land Clause in Contracts

Additional Agreements; Covenants Running with the Land. The Mortgagor agrees that the terms of this Agreement are essential to the making of the Mortgage Loan and the TCAP Loan, and that the enforcement of these covenants is necessary to preserve the LIHTC Program and the TCAP Loan benefits and, if applicable, the tax-exempt status of the bonds financing the Development. These covenants are in addition to any similar or identical covenants contained in the Low Income Housing Tax Credit Regulatory Agreement which has been or will be entered into by the parties to this Agreement. Therefore, the Mortgagor further agrees as follows:

Additional Agreements; Covenants Running with the Land. The Mortgagor agrees that the terms of this Agreement are essential to the making of the Mortgage Loan and the TCAP Loan, and that the enforcement of these covenants is necessary to preserve the LIHTC Program and the TCAP Loan benefits and, if applicable, the tax-exempt status of the bonds financing the Developmentbenefits. These covenants are in addition to any similar or identical covenants contained in the Low Income Housing Tax Credit Regulatory Agreement which has been or will be entered into by the parties to this Agreement. Therefore, the Mortgagor further agrees as follows: