§ 200.50 - Building loan agreement.

Latest version.

§ 200.50 Building loan agreement.

The mortgagor and mortgagee must execute a building loan agreement approved by the Commissioner, that sets forth the terms and conditions under which progress payments may be advanced during construction, before initial endorsement of the mortgage for insurance.

                    
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§ 200.50 - Building loan agreement.

§ 200.50 Building loan agreement.