24:52:15:08. Restrictive covenant. Upon receipt of an award from the fund the applicant shall sign a restrictive covenant running with the property which states that the property must be maintained in a manner that preserves its restored portions and that all work performed on the property within the eight-year covenant period must meet the standards of the board in § 24:52:07:02. The applicant shall file the covenant with the register of deeds in the county in which the property is located and provide proof of filing to the office before the office will disburse any loan or grant payments.
Source: 24 SDR 73, effective December 4, 1997; 28 SDR 182, effective July 10, 2002; 39 SDR 100, effective December 3, 2012.
General Authority: SDCL 1-19A-5, 1-19A-13.5, 1-19A-29.
Law Implemented: SDCL 1-19A-13 to 1-19A-13.3.
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