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VIII. B3REPORT OF THE PRESIDENT December 16, 2021RESOLUTION APPROVING THE TENTH AMENDMENT TO THE PROJECTED SECTION 8 CONTRACT ADMINISTRATION ANNUAL CONTRIBUTIONS CONTRACT & AUTHORIZING THE PRESIDENT
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Year contracts with options are agreements that allow one party to choose whether or not to extend the contract for an additional year.
Companies or individuals who enter into year contracts with options are required to file them.
Year contracts with options can be filled out by including the terms of the agreement, the party responsible for making the decision on the extension, and any conditions that must be met for the extension to take place.
The purpose of year contracts with options is to provide flexibility for both parties involved in the agreement.
The information that must be reported on year contracts with options includes the date of the agreement, the terms of the contract, and the conditions for the extension.
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