24 C.F.R. § 891.730 Default by Borrower.
Title 24 - Housing and Urban Development
(a) PAC provisions. The PAC will provide: (1) That if HUD determines that the Borrower is in default under the PAC, HUD will notify the Borrower of the actions required to be taken to cure the default and of the remedies to be applied by HUD, including an action for specific performance under the PAC, reduction or suspension of project assistance payment and recovery of overpayments, as appropriate; and (2) That if the Borrower fails to cure the default, HUD has the right to terminate the PAC or to take other corrective action. (b) Loan provisions. Additional provisions governing default under the Section 202 loan are included in the regulatory agreement and other loan documents.
Title 24: Housing and Urban Development
PART 891—SUPPORTIVE HOUSING FOR THE ELDERLY AND PERSONS WITH DISABILITIES
Subpart E—Loans for Housing for the Elderly and Persons with Disabilities
Section 202 Projects for the Nonelderly Handicapped Families and Individuals—Section 162 Assistance
§ 891.730 Default by Borrower.
