(a) shall provide that all improvements shall be the property of the lessor;
(b) may require that provision be made for the retirement and surrender of all outstanding shares and debentures upon the termination of the lease;
(c) may reserve such easements or other rights in connection with the property as may be deemed necessary or desirable for the future planning and development of the municipality and the extension of public facilities therein;
(d) shall contain a provision authorizing the lessor to designate a director of the housing company; and
(e) may contain such other provisions as are not inconsistent with the provisions of this chapter. 2. Such lease shall not impose upon the lessor any liability or obligations in connection with or arising out of the financing, construction, reconstruction, alteration, management or operation of a project, but such lease shall contain such provisions as may be necessary to protect the interests of the authority or municipality.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
