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Ctcac Regulatory Agreement

Accordingly, the Agency undertakes to subordinate the covenants and the right of pledge of the Loan Agency to the primary loan and/or the credit tax credit regulation agreement, subject to the conditions of this section 310.10. DHCD reserves the right to charge an appropriate monitoring fee to perform compliance monitoring functions at the end of the compliance period (defined in Section 42 of the Internal Revenue Code) for the remainder of the term of the credit control agreement on credit credit and covenant`s restrictive statement. A complete copy of the Credit Control Agreement (4 California Code of Regulations § 10340(c)). In addition, in this case, the requirements relating to compliance with the rules in effect by the California Tax Credit Allocation Committee and the applicable requirements of the Credit Credit Settlement Agreement in Section 18.1 of Section 18.1 automatically have no other force or effect (and such leakage must be construed as if those requirements had never been included in this case). In order to impose these and other restrictions on the use of the Program, DHCD requires each Project Owner to enter into a Tax Credit Settlement Agreement and a Declaration of Restrictive Agreements (the ”Agreement”). . . .

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