Common use of Continued Occupancy Clause in Contracts

Continued Occupancy. Each owner who prepays the mortgage or termi- nates the mortgage insurance contract on eligible low income housing shall, as provided in paragraph (g) of this sec- tion, allow the tenants occupying units in such project on the date of submis- sion of a notice of intent under § 248.105 to remain in the project for a period of three years, commencing on the date of prepayment or contract termination, at rent levels existing at the time of prepayment or termination, except for rent increases made necessary due to increased operating costs.

Continued Occupancy. Each owner who prepays the mortgage or termi- nates the mortgage insurance contract on eligible low income housing shall, as provided in paragraph (g) of this sec- tion, allow the tenants occupying units in such project on the date of submis- sion of a notice of intent under § 248.105 to remain in the project for a period of three years, commencing on the date of prepayment or contract termination, at rent levels existing at the time of prepayment or termination, except for rent increases made necessary due to increased operating costs.. sfrattini on LAPCK6H6L3 with DISTILLER