| OCR Text |
Show NOW THEREFORE, IN CONSIDERATION OF THE MUTUAL COHENAETS AND AGREEMENTS HEREIN CONTAINED, AND FOR FURTHEH GOOD AND VALUABLE CONSIDERATIONS,REC RECEIPT or 121-110}! ARE HEREBY ACKNO‘.LIDCED, AND PURSUANT TO THE AUTHORITY CO .. TAINED IN THE IANHAH ACT, As AHENDE), (PARTICULARLY THE PROVISIONS OF SECTION 301. OF SAID ACT), SAID CONTRACT IS HEREBY A:mm) As FOHDNS: (l) SectiOn 203 of said contract is hereby deleted and the following substituted in lieu. thereof: I 203 We The schedule of rents to be prescribed in the Project Managenent Plan she; - establish a fair rent based on value for each dwelling accommodation in the project. SuCh rent shall be reduced in indi vidusl cases,' if fair rent based on value 'is not within the: financial reach of the eligible tenant; PROVIDED, Hui-EVER, I that in no event shall the rent (plus the (cost of utilities: ‘ but exclusive of any charge for furniture) be (reduced to an amount less than one-fifth ' of the tenant's net family income (or one-sixth of such net) family income in case "of tenants: three or more minor dependents); nor shall the rent be red, to an amount less than the Estimated Allowable Operating 6 per month for the dwelling accommodation (as set forth in Project Management Plan) plus such portion of the taxes, ‘ : assessments, licenses, or payments in lieu thereof attribute " 'ble (On a pro rata basis) to said dwelling ac‘commodationa ‘ "Net family income" shall be defined by the FFHA. - , The schedule of rents shall be registered with, and ‘ subject to ,the Office of Price Administration or. other app cable rent regulationsa No rents in excess of the rents I grescribed therein shall be charged or collected by the lace Ody. (2) . Sections 2..Oh and 20W are hereby deleted and the tollowing substituted in lieu thereof: body maycharge to, . pay ' cm, the rents an revenue de- rived from the project (herein called the "pmject income") ‘ for necessary and n ml expenses of maimegement and Operatic [the sum of $23 3 per month fer each family dwelling] its. the project, which amount(s) is [5:37herein called the g; "Estimated Allowable Operating Costs." Such charges with respect to any site shall commence as of the first day of: , month during which a dwelling accommodationon such site is 1 Insert amount of "Total Operating Ikpense before Furniture Allowance and PILOT" per unit :,‘P°‘Ti"- month... " |
