New York Consolidated Laws, Private Housing Finance Law - PVH § 554. Provisions of lease

(a) shall provide that all improvements shall be the property of the lessor;

(b) may require that provision be made for the retirement and surrender of all outstanding shares and debentures upon the termination of the lease;

(c) may reserve such easements or other rights in connection with the property as may be deemed necessary or desirable for the future planning and development of the municipality and the extension of public facilities therein;

(d) shall contain a provision authorizing the lessor to designate a director of the housing company; and

(e) may contain such other provisions as are not inconsistent with the provisions of this chapter.