New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 80 - NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY › Subchapter 26 - HOUSING AFFORDABILITY CONTROLS › Appendix J

Current through Register Vol. 56, No. 14, July 15, 2024
FORM OF CERTIFICATE FOR APPLICANTS CERTIFIED TO OWNERSHIP UNIT,
				  REQUIRED BY SECTION 5:80-26.18(c)2
CERTIFICATE FOR APPLICANT
CERTIFIED TO AN OWNERSHIP UNIT SUBJECT TO
AFFORDABLE HOUSING RESTRICTIONS
My name is ...... and I am making this certificate in connection
				  with my certification to purchase
.....................................................................
......................................................................,
a home provided under the New Jersey Affordable Housing
				  Program.
I am aware, as the purchaser of an Affordable Home, that from this
				  date until ......., 20... I have to follow the rules and requirements that are
				  listed below: .......
1.
I am allowed to sell my home only a
						  person or a family who is part
of the Affordable Housing Program, and who has been
						  certified, like
I have been, in writing by .......
2.
The price for which I can sell my
						  house is limited by law, and may
be much less than the sale prices other homes similar to
						  mine, but
which are not part of the Affordable Housing Program.
3.
I cannot take out any loans of any
						  kind secured by my house (a
"mortgage loan") unless my plans to get the loan are
						  approved by
...... before I sign any loan papers. The total amount of
						  mortgage
loans I am allowed to have is limited by law.
4.
I know that I am required to live in
						  my house, and that I cannot
rent it out to any other person, not even to members of my
						  family.
If I have a temporary need to move away that is not my
						  fault, such
as if my employer is temporarily sending me to a work place
						  a great
distance from my home, or if I am being called up for
						  military
service, I should call ...... and ask for a "temporary
						  waiver" of
this rule. It is up to ...... whether I get a temporary
						  waiver.
5.
If my home is a two-family home, I
						  know that I am allowed to rent
the rental apartment in my home only to a person or to a
						  family who
is part of the Affordable Housing Program, and who has
						  been
certified to rent my rental apartment in writing by
						  .......
6.
Furthermore, I know that the rent I
						  am allowed to charge a tenant
is limited by law, and is announced each year by ....... I
						  know
that it is my responsibility to find out what is the maximum
						  rent I
am allowed to charge by calling .......
7.
I know that I am required to send
						  copies of all leases with my
tenants to .......
8.
I know that I am not allowed to make
						  any improvements to my home
unless they have been approved in writing by .......
9.
Finally, I know that if I break any
						  of these rules I will be
breaking the law, and that I will be subject to penalties
						  provided
by law, including having to pay fines and possibly losing my
						  home.
BE IT REMEMBERED, that on this the ... day of ......., 20... the
				  signer of this Certificate ...... appeared personally before me and who, being duly
				  sworn by me, deposed and made proof to my satisfaction (i) that he/she is the
				  Purchaser of the Affordable home that is identified as said Purchaser in the
				  foregoing Certificate, and (ii) and that he/she has executed said Certificate with
				  respect to the purchase of the property described in the Certificate and for the
				  purposes described and set forth therein.
Sworn to and subscribed before me, ...... on the date set forth
				  above.
.......................................
NOTARY PUBLIC