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Code · CFR · Title 24 — Housing and Urban Development · Part 242 — Mortgage Insurance for Hospitals · § 242.43

§ 242.43. Application of cost savings.

57 words·~1 min read·/us/cfr/t24/s§ 242.43·

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At the sole discretion of HUD, any cost savings shall be used to:
(a)Reduce the principal amount of the mortgage and the mortgagor's cash equity contribution proportionally, unless the mortgagor elects to have a greater portion of the savings used to reduce the mortgage; and/or
(b)Fund any additional construction or substantial rehabilitation approved by HUD.
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§ 242.43
Application of cost savings.
Fed. Reg.×1
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