A. Upon expiration of the long-term housing lease, the low-rent housing units constructed pursuant to N.M. Stat. Ann. Chapter 33, Article 1A shall become the exclusive property of the state, free of any encumbrances of any kind arising from the construction or leasing of the housing units.

Terms Used In New Mexico Statutes 33-1A-4

  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC

B. The low-rent housing units constructed pursuant to N.M. Stat. Ann. Chapter 33, Article 1A shall conform to all applicable building codes, and the plans and specifications for the housing units shall be approved by the facilities management division of the general services department 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 N.M. Stat. Ann. Chapter 33, Article 1A.

  Previous section
Next section  
 Article 1A Contents