Form RD 3560-27 RD 3560-27 Rental Assistance Agreement

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Form RD 3560-27
(02-05)

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UNITED STATES DEPARTMENT OF AGRICULTURE
RURAL DEVELOPMENT
RURAL HOUSING SERVICE

FORM APPROVED
OMB NO. 0575-0189

RENTAL ASSISTANCE AGREEMENT
CASE NO.
PROJECT NO.

This Agreement effective on the 1st day of

between

,

(''borrower'') and its successors and the United States of America acting through the Rural Housing Service ("the Government")
pursuant to section 521 (a)(2)(A) of Title V of the Housing Act of 1949.
In consideration of the mutual covenants set forth, the Parties agree as follows:
Section 1 The Government agrees to provide rental assistance in accordance with its governing rules and regulations for the number
of units of housing provided according to the attached Form RD 3560-51 (Part III), ''Multiple Housing Obligation-Fund Analysis,'' or
RD 3560-55, ''Multiple Family Housing Transfer of Rental Assistance,'' for the project located
at
and known as
consisting of
units. The Government will pay the difference between the Government approved shelter cost for the project and the monthly tenant
contribution as calculated and certified for each tenant household on Form RD 3560-8, ''Tenant Certification.'' Additional attachments
of Form 3560-51 (Part III) or Form RD 3560-55 may be made to, and shall become a part of, this Agreement when properly identified
by case number, project number, dated, and duly executed by both parties.
Section 2 The borrower agrees to abide by the present and future regulations of the Government in the administration of this program.
Section 3 Borrower agrees to use due diligence in the verification and certification of tenants' incomes.
Section 4 In the event that any tenant suffers a hardship because rental assistance may not be available in the project because of the
limitations on the number of units from the Government, the borrower may request additional units. If the Government provides
additional units, then copies of the obligation screens will be attached by the Government to, and become a part of, this Agreement.
Section 5 Borrower agrees to comply with Government priorities for selecting tenants that receive rental assistance.
Section 6

Provisions Applicable if the Borrower is a Cooperative -

When the Borrower is a Cooperative:
(a)
The term ''tenant or occupant'' will include a member of a cooperative. The term ''household contribution'' or "rent" will
include the charges under the occupancy agreement between the member and the cooperative.
(b)
A member of a cooperative approved for rental assistance shall agree upon a sale of their membership, any equity
attributable to supplemental rent payments will be paid to the Government through the cooperative.

According to the Paperwork Reduction Act of 1995, an agency may not conductor sponsor, and a person is not required to respond to, a collection of information unless it displays a valid
OMB control number. The valid OMB control number for this information collection is 0575-0189. The time required to complete this information collection is estimated to average 20
minutes 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.

Position 2

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Section 7
(a)

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Renegotiation, Modification, Transfer, Termination The provisions of the Agreement may be modified, amended, or terminated, upon written agreement of the parties.

(b)
If the borrower defaults under any provision of the loan agreement, resolution, note, interest credit agreement, security
instrument, or other supplementary or related agreements, or violates any program regulations, then the Government may suspend or
terminate this Agreement on any specified date following the default.
(c)
If the Government determines that rental assistance units are not being used after initial rent-up or are not needed because of
a lack of eligible tenants in the area, then they may be transferred to another project .
Section 8

Term of Agreement and Condition for Termination -

(a)
This Agreement and its attachments, and any additional rental assistance will expire automatically upon total disbursement
or credit of rental assistance to the borrower's account, unless earlier suspended, transferred or terminated according to section 7 of this
Agreement.
(b)
The attachments, Form RD 3560-51 (Part III) or RD 3560-55, to this Agreement are not renewable. If additional rental
assistance is needed, the borrower may submit a ''Request for Rental Assistance'' on Form RD 3560-7 (Budget) at anytime. If additional
or replacement units are provided, a copy of the AMAS Screen M1BI will be attached to and become a part this Agreement.
Section 9 Special Conditions - The borrower agrees that RD may attach a duly executed Form RD 3560-51 (Part III) or RD 3560-55,
to this Agreement and that it becomes a part hereof, and may be identified in Section 10 below.

(Borrower)

RURAL HOUSING SERVICE
By:
Date:
Section 10

Record of Attachments For RD 3560-51 (Part III) or RD 3560-55

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