HUD 92046 Use Agreement

Attachment VII
Rental Use Agreement (HUD-92046)

Emergency Capital
Repair Program Grants

U.S. Department of Housing
and Urban Development
Office of Housing

Rental Use Agreement

Federal Housing Commissioner

OMB Control No. 2502-0542
(exp.06/30/2013)

Public reporting burden for this collection of information is estimated to average 4 hours per response, including the time for
reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and
reviewing the collection of information. HUD may not collect this information, and you are not required to complete this form,
unless it displays a currently valid OMB control number.
This collection of information is required for HUD’s Emergency Capital Repair Program Grants. This program is authorized
under Section 202(b) of the Housing Act of 1959 (12 U.S.C. 1701q-2) . The information is necessary to assist HUD in
determining applicant eligibility and evaluating the request for repairs. A thorough evaluation of an applicant’s qualifications and
capabilities is critical to protect the Government’s financial interest and to mitigate any possibility of fraud, waste, or
mismanagement of public funds. This collection of information does not collect any sensitive information. HUD does not
ensure confidentiality.

PROJECT NAME: _____________
FHA PROJECT NO: _____________
CITY, STATE:

_______________

Form 92046 (6/2010)

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RENTAL USE AGREEMENT

This Agreement is made and entered into this ______ day of _____________, 20__,
by and between the Secretary of Housing and Urban Development (HUD) and
______________________ (Owner).
The Owner has entered into an agreement with HUD to maintain the property as
rental housing for the elderly until ______;
HUD has determined that continuation of the property as rental housing is clearly
necessary to assure adequate rental housing opportunity for low- and moderate-income
elderly tenants.
WHEREAS, the Owner has requested an Emergency Capital Repair Program Grant
to make emergency capital repairs to the property.
WHEREAS, the Owner is willing to agree to maintain the subject property as an
affordable rental property until _____________.
WHEREAS, in the event the Owner chooses to sell, prepay, or transfer the property
during the period of time this Use Agreement is in effect, it will require as a condition that
the purchaser will commit to maintain the property pursuant to the terms of this Rental Use
Agreement.
NOW, THEREFORE, in consideration of the mutual covenants contained herein,
and other good and valuable consideration, the receipt and sufficiency of which are
expressly acknowledged, the parties agree as follows:
1. The execution and recording of this Agreement shall constitute HUD’s
approval of the Emergency Capital Repair Grant in the amount of
$_______________.
2. The Owner agrees that during the period that it owns the property, it will
maintain the property as affordable rental housing until _______________. During
such period, should the property be sold, the purchaser shall not utilize project
dwelling units for any purpose other than as affordable rental housing for the elderly.
3. The provisions of this Agreement shall be binding upon the heirs,
successors and assigns of the Owner and purchaser (if sold).
4. The provisions of this Agreement relating to the rental use of the property shall
run with the land and shall be binding for the benefit of, in favor of and enforceable
by the Secretary and his successors in office. The Secretary and his successors in
office and/or any third-party beneficiary shall be entitled to (a) institute legal action
to enforce performance and observance of, (b) enjoin any actions which are violative
Form 92046 (6/2010)

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of, and (c) exercise any other legal or equitable right or remedy with respect to such
provisions. For the purpose of these covenants, a third-party beneficiary shall be any
person eligible for occupancy in the rental project insured pursuant to the provisions
of the applicable program for the elderly. These rights and remedies will be
exercised separately or in combination.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed
the day and year first above written.

ATTEST:
____________________________

OWNER:
______________________________
TITLE
______________________________

UNITED STATES OF AMERICA
SECRETARY OF HOUSING AND URBAN
DEVELOPMENT

______________________________
By: Director, Multifamily
Hub/Program Center
COUNTY OF _______________________
STATE OF ________________________

Form 92046 (6/2010)

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On this ___________ day of ___________, 20__ before me, the undersigned officer,
personally appeared _____________________________________ who acknowledged
himself /herself to the _________________________ of
_____________________________, and that as such
____________________________________, being authorized to do so, executed the within
Agreement for the purpose therein contained by signing the name of said partnership by
himself/herself as
_____________________________________________________________.
WITNESS my hand and Notary seal the day and year aforesaid.

SEAL

____________________________________
Notary Public
My Commission expires________________

COUNTY OF ____________________
STATE OF _____________________

Form 92046 (6/2010)