If this chapter is not terminated for default pursuant to § 37.08, this chapter shall remain in effect and shall not terminate for a term of 15 years or so long as the housing development remains subject to a federally aided mortgage and so long as the housing development submits the required annual notification of exemption pursuant to M.C.L.A. 125.1415a(1), as amended.
(Ord. 216, passed 5-7-12)