Contract provisions

(a) Contracts shall include, but not be limited to the terms and conditions of the transfer, the rights and obligations of the parties under the contract(s), and any other special provisions agreed upon between the parties. (b) The developer shall provide a deed restriction, restrictive covenant or land trust agreement, to run in favor of the state, in any legal documents to be filed on the land records to insure that the property remains permanently affordable and shall serve homeless persons or low and moderate income persons and families. This provision may be subordinated to a mortgage lender if the Commissioner determines that such subordination is in the State's best interest. (Effective November 26, 1993)