Section 67-58.040 - Sale or Transfer of a ProjectThe CWHIP loan shall be assumable upon sale or transfer of the Project if the following conditions are met:
(1) The proposed transferee agrees to maintain all set-asides and other requirements of the CWHIP loan for the period originally specified or longer; and,(2) The proposed transferee and release of transferor receives a favorable recommendation from the Credit Underwriter as satisfying the criteria stated in the Credit Underwriter's report; meeting the stated purposes of the Corporation; complying with all legal requirements of the Corporation; and subject to approval by the Board.Fla. Admin. Code Ann. R. 67-58.040
Rulemaking Authority 420.5095 FS. Law Implemented 420.5095 FS.
New 12-17-06, Amended 12-23-07.New 12-17-06, Amended 12-23-07.