238-26 - 410 Main Settlement.pdf

Affordable Units in compliance with UHAC, or leases, rents, occupies, transfers, or otherwise permits use of any Affordable Unit in violation of the applicable affordability controls, Developer shall be responsible for all reasonable costs and expenses incurred by the Township in enforcing this Agreement and the affordability controls, including reasonable attorneys’ fees, administrative agent fees, professional fees, and court costs. In addition, to the fullest extent permitted by law and as an equitable remedy for noncompliance, Developer shall remit to the Township’s Affordable Housing Trust Fund any rent, income, or other consideration collected from any Affordable Unit during the period of noncompliance, or, at minimum, the difference between the amount actually collected and the maximum lawful affordable rent permitted under UHAC, as determined by the Township, the Administrative Agent, or the Court. 2.8 Obligation to Lease Units in a Manner That Maintains Their Creditworthiness Developer, including its successors and assigns, shall have the continuing responsibility to lease the Affordable Units in the Inclusionary Project in accordance with applicable federal, state, and local laws, UHAC, and the terms specified in this Agreement for at least forty (40) years and to maintain the Mount Laurel creditworthiness of the Affordable Units. In the event of any breach of this continuing responsibility, the Township shall have all remedies available in equity and law. No Affordable Unit shall be leased, occupied, released, transferred, or otherwise made available except to an income qualified household approved by the Administrative Agent, at a rent approved by the Administrative Agent, and pursuant to a lease form approved by the Administrative Agent to the extent required by UHAC. 2.9 Obligation Not to Challenge the Township's Fourth Round Affordable Housing Plan Developer or any affiliated entities or successors in interest will cooperate with and support the Township's request for approval of any amendment to the Township's affordable housing plan and the subsequent entry of a judgment of compliance and repose/compliance

with and support the Township's request for approval of any amendment to the Township's affordable housing plan and the subsequent entry of a judgment of compliance and repose/compliance certification, will support the settled upon fair share plan, and will not otherwise challenge the validity of the Township's affordable housing plan, so long as Developer's site and this Inclusionary Project are included within the affordable housing plan. This obligation also specifically requires Developer to support or not object to the Township's Fourth Round Plan, to the extent the Township seeks approval of its Fourth Round Plan and Developer's site and this Inclusionary Project are contained within the Fourth Round Plan. 2.10 Obligation to File Development Applications in Accordance with the Ordinance and Concept Plan 10