Execution Of Housing Assistance Payments Contract

(1) Time of Execution. (a) Upon acceptance of the unit(s) by the Agency and acceptance of the certifications by the Agency the Contract will be executed by the Owner and the Agency. The effective date must be no earlier than the Agency inspection which provides the basis for acceptance. (2) Changes from Agreement. (a) The Contract Rents may be higher or lower than those specified in the Agreement in accordance with requirements of 0770-3-1-.07. (3) Unleased Unit(s). (a) At the time of execution of the Contract, the Agency will examine the lists of dwelling units leased and not leased, and will determine whether or not the Owner has met the obligations with respect to any unleased unit(s) and for which unit(s) it will make vacancy payments if the unit(s) is not leased within 15 days. The Owner must indicate in writing either concurrence with this determination or disagreement, reserving all rights to claim vacancy payments for the unleased unit(s) pursuant to the Contract, without prejudice by reason of the Owner’s signing the Contract. DEVELOPMENT AND OPERATION CHAPTER 0770-3-2