Common use of Use and Occupancy of the Property Clause in Contracts

Use and Occupancy of the Property. a. It is agreed that during the Term, the Property Owner will maintain the Property as his/her principal residence. b. It is agreed that during the Term, the Property Owner will maintain the Property in accordance to the minimum standards set forth in the (enter name of entity) Policies and Procedures for their Home Buyer Program defined as U.S. Department of Housing and Urban Development Section 8 Housing Quality Standards.

Use and Occupancy of the Property. a. It is agreed that during the Term, the Property Owner will maintain the Property as his/her principal residence. b. It is agreed that during the Term, the Property Owner will maintain not use the Property in accordance to the minimum standards set forth in the (enter name of entity) Policies and Procedures for their Home Buyer Program defined as U.S. Department of Housing and Urban Development Section 8 Housing Quality Standardsa short term rental.