The closing documents executed in connection with any Covered Project shall contain provisions indicating there can be no change of the Equity and no dilution of a participant's Equity Participation without the Director's express written consent.
The closing documents shall expressly covenant and agree that the Department shall have third-party beneficiary rights to enforce the provisions, for and in its own right.
The agreements and covenants in the closing documents shall expressly run in favor of the Department for the entire period during which the agreements and covenants shall be in force and effect, without regard to whether the District was or is an owner of any land or interest therein or in favor of which the agreements and covenants relate.
The closing documents shall expressly covenant and agree that the Department shall have the right, in the event of a breach of the agreement or covenant in the closing documents, to exercise all the rights and remedies - and to maintain any actions or suits, at law or in equity, or other proceedings to enforce the curing of the breach of agreement or covenant - to which it may be entitled.
D.C. Mun. Regs. tit. 27, r. 27-843