TABLE OF CONTENTS

The HDFC will be bound by a Regulatory Agreement with the New York City Department of Housing Preservation and Development (“HPD”). The Regulatory Agreement will take effect on the Closing Date and run until either (i) 38 years from the Closing Date or (ii) the expiration of any exemption and/or abatement from taxation on the Property pursuant to Section 577 of the Private Housing Finance ... ................
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