24 C.F.R. § 200.53 Initial operating funds.
Title 24 - Housing and Urban Development
The mortgagor shall deposit cash with the mortgagee, or in a depository satisfactory to the mortgagee and under control of the mortgagee, in accordance with terms, conditions and standards established by the Commissioner for: (a) Accruals for taxes, ground rates, mortgage insurance premiums, and property insurance premiums, during the course of construction; (b) Meeting the cost of equipping and renting the project subsequent to its completion in whole or part; and (c) Allocation by the mortgagee for assessments required by the terms of the mortgage in an amount acceptable to the Commissioner.
Title 24: Housing and Urban Development
PART 200—INTRODUCTION TO FHA PROGRAMS
Subpart A—Requirements for Application, Commitment, and Endorsement Generally Applicable to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects
Requirements Incident to Insured Advances
§ 200.53 Initial operating funds.
