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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 22 - Foreign Relations |
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Chapter II - Agency for International Development |
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Part 200 - Employee Responsibilities and Conduct |
§ 200.53 - Initial operating funds.
Latest version.
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The mortgagor shall deposit cash with the mortgagee, or in a depository satisfactory to the mortgagee and under control of the mortgagee, in accordance with terms, conditions and standards established by the Commissioner for:
(a) Accruals for taxes, ground rates, mortgage insurance premiums, and property insurance premiums, during the course of construction;
(b) Meeting the cost of equipping and renting the project subsequent to its completion in whole or part; and
(c) Allocation by the mortgagee for assessments required by the terms of the mortgage in an amount acceptable to the Commissioner.