1. Regulations
  2. title 24
  3. chapter IV
  4. part 401
  5. subpart C
  6. § 401.406

View all text of Subpart C [§ 401.400 - § 401.503]

§ 401.406 - Execution of Restructuring Commitment.

When HUD approves the Restructuring Commitment, the PAE will deliver the Restructuring Commitment to the owner for execution. The Restructuring Commitment becomes binding upon execution by the owner. An owner who does not execute the Restructuring Commitment may appeal its terms and seek modification under subpart F of this part.

AUTHORITY: 12 U.S.C. 1715z-1 and 1735f-19(b); 42 U.S.C. 1437(c)(8), 1437f(t), 1437f note, and 3535(d).

SOURCE: 65 FR 15485, Mar. 22, 2000, unless otherwise noted.

CITE AS: 24 CFR 401.406