Common use of Non-displacement Clause in Contracts

Non-displacement. The Borrower shall design its HOME-assisted activities to minimize both direct and indirect displacement of persons and businesses in the implementation of its projects, either through judicious choice of project locations, or through the provision of facilitating assistance for continued residency within the Project. The Borrower hereby ensures that it has taken all reasonable steps to minimize the displacement of persons (families, individuals, businesses, nonprofit organizations and farms) as well as comply with One-for-One Replacement requirements triggered as a result of a project assisted with federal funds for acquisition, rehabilitation and/or new construction in compliance with 92.353 and as detailed in Exhibit 14. The Borrower must comply with all applicable federal and state relocation compensation procedures for all persons eligible for displacement and relocation assistance.

Appears in 2 contracts

Sources: Loan Agreement, Home Loan Development Agreement