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Years). For detailed information on renewing under Option Four, refer to Chapter Six of the Section 8 Renewal Policy Guide. 5. Option Five: Preservation Contract renewals may not exceed the the remaining life of the Preservation Use Agreement. Owners of Demonstration projects that are requesting a renewal under 524 may receive a multiyear term not to exceed the remaining life of the Demonstration Use Agreement. Details regarding a renewal under this Option may be found in Chapter Seven of the S.

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