1. Regulations
  2. title 24
  3. chapter VIII
  4. part 886
  5. subpart A
  6. § 886.111

View all text of Subpart A [§ 886.101 - § 886.140]

§ 886.111 - Term of contract.

A Contract may be for an initial term of not more than 5 years, renewable for successive 5 year terms by agreement between HUD and the Owner: Provided, That the total Contract term, including renewals, shall not exceed 15 years.

AUTHORITY: 42 U.S.C. 1437a, 1437c, 1437f, 3535(d), and 13611-13619.

CITE AS: 24 CFR 886.111