§ 35.620. Multifamily insured property constructed before 1960.
159 words·~1 min read·
/us/cfr/t24/s§ 35.620·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Except as provided in § 35.630, the following requirements apply to multifamily insured property constructed before 1960:
(a)Risk assessment. Before the issuance of a firm commitment the sponsor shall conduct a risk assessment in accordance with § 35.1320(b).
(b)Interim controls.
(1)The sponsor shall conduct interim controls in accordance with § 35.1330 to treat the lead-based paint hazards identified in the risk assessment. Interim controls are considered completed when clearance is achieved in accordance with § 35.1340.
(2)The sponsor shall complete interim controls before the issuance of the firm commitment or interim controls may be made a condition of the Federal Housing Administration
(FHA)firm commitment, with sufficient repair or rehabilitation funds escrowed at initial endorsement of the FHA insured loan.
(c)Ongoing lead-based paint maintenance activities. Before the issuance of the firm commitment, the sponsor shall agree to incorporate ongoing lead-based paint maintenance into regular building operations and maintenance activities in accordance with § 35.1355(a).