Section 17-534-42 - Restriction on use of dwelling units(a) A dwelling unit that has been constructed or renovated using construction grant funds shall be used or available for use as a rental unit for applicants or tenants at all times during the five year period commencing on the date such unit is ready for occupancy after the construction or renovation is completed.(b) The owner or owners of the real property on which a dwelling unit has been constructed or renovated using construction grant funds shall record in the bureau of conveyances of the State of Hawaii, or if the real property is subject to land court registration under chapter 501, Hawaii Revised Statutes, shall record in the land court, a covenant that the owner or owners, or the heirs, successors or assigns of the owner or owners shall use the dwelling unit for applicants or tenants as provided by this section. The covenant shall be recorded on a form approved by the authority and may contain such terms as the authority deems necessary to ensure its enforceability.(c) At the end of the five year period of restriction on use of the dwelling unit, the authority shall execute a release of covenant and shall record such release with the bureau of conveyances or the land court.[Eff JUN 30 1994] (Auth: SLH 1992, Act 279, §§3(5), 5) (Imp: SLH 1992, Act 279, §§3(5), 5)