24 C.F.R. § 220.760 Payment of insurance benefits.
Title 24 - Housing and Urban Development
All of the provisions of §207.259 of this chapter relating to insurance benefits apply to multifamily project mortgages insured under this subpart, except that all of the insurance claim shall be paid in cash unless the mortgagee files a written request with the application for payment in debentures. If such a request is made, all of the claim shall be paid by issuing debentures and by making a cash payment adjusting any differences between the total amount of the claim and the amount of the debentures issued.
Title 24: Housing and Urban Development
PART 220—MORTGAGE INSURANCE AND INSURED IMPROVEMENT LOANS FOR URBAN RENEWAL AND CONCENTRATED DEVELOPMENT AREAS
Subpart D—Contract Rights and Obligations—Projects
Project Mortgage Insurance
§ 220.760 Payment of insurance benefits.
