Section 33-1A-4 - Lease terms. - New-mexico Statutes

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33-1A-4. Lease terms.

A. Upon expiration of the long-term housing lease, the low-rent housing units constructed pursuant to this act [33-1A-1 to 33-1A-5 NMSA 1978] shall become the exclusive property of the state, free of any encumbrances of any kind arising from the construction or leasing of such housing units.

B. The low-rent housing units constructed pursuant to this act [33-1A-1 to 33-1A-5 NMSA 1978] shall conform to all applicable building codes, and the plans and specifications for such housing units shall be approved by the property control division prior to commencement of construction.

C. The state shall be indemnified against any judgment awarding monetary damages due to the construction or safety of the low-rent housing units constructed pursuant to this act.

State Codes and Statutes

Statutes > New-mexico > Chapter-33 > Article-1a > Section-33-1a-4

33-1A-4. Lease terms.

A. Upon expiration of the long-term housing lease, the low-rent housing units constructed pursuant to this act [33-1A-1 to 33-1A-5 NMSA 1978] shall become the exclusive property of the state, free of any encumbrances of any kind arising from the construction or leasing of such housing units.

B. The low-rent housing units constructed pursuant to this act [33-1A-1 to 33-1A-5 NMSA 1978] shall conform to all applicable building codes, and the plans and specifications for such housing units shall be approved by the property control division prior to commencement of construction.

C. The state shall be indemnified against any judgment awarding monetary damages due to the construction or safety of the low-rent housing units constructed pursuant to this act.

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State Codes and Statutes

Statutes > New-mexico > Chapter-33 > Article-1a > Section-33-1a-4

33-1A-4. Lease terms.

A. Upon expiration of the long-term housing lease, the low-rent housing units constructed pursuant to this act [33-1A-1 to 33-1A-5 NMSA 1978] shall become the exclusive property of the state, free of any encumbrances of any kind arising from the construction or leasing of such housing units.

B. The low-rent housing units constructed pursuant to this act [33-1A-1 to 33-1A-5 NMSA 1978] shall conform to all applicable building codes, and the plans and specifications for such housing units shall be approved by the property control division prior to commencement of construction.

C. The state shall be indemnified against any judgment awarding monetary damages due to the construction or safety of the low-rent housing units constructed pursuant to this act.