Page:United States Statutes at Large Volume 101 Part 3.djvu/621

 PUBLIC LAW 100-242—FEB. 5, 1988

101 STAT. 1919

f.'

(ii) by striking "and" at the end; (C) by redesignating the second paragraph (3) as paragraph (4); and (D) by redesignating paragraph (4) as paragraph (5). (2) Section 232(i)(2)(B) of the National Housing Act is amended i to read as follows: "(B) bear interest at such rate as may be agreed upon by the mortgagor and the mortgagee;". (f) MuLTiFAMiLY ASSISTANCE.—Section 236 of such Act is amended by striking out "(h)" in the last sentence of subsection (i)(l) and inserting in lieu thereof "(f)(4)".

12 USC 1715w.

12 USC 1715Z-1.

(g) CO-INSURANCE.—

(1) Section 244(g) of the National Housing Act is amended— (A) by striking paragraph (2); and (B) by redesignating paragraphs (3) through (6) as paragraphs (2) through (5), respectively. (2) Section 244(h) of the National Housing Act is amended by striking "coinsurance" each place it appears and inserting "coinsurance".

12 USC 1715Z-9.

(h) INSURANCE ON HAWAIIAN HOME LANDS.—Section 247(a)(2) of

the National Housing Act is amended by striking "Mortgagor" and inserting "mortgagor'. (i) INSURANCE ON INDIAN RESERVATIONS.—Section 248 of the

12 USC 1715Z-12.

Na-

12USei715z-13. tional Housing Act is amended— (1) in subsection (a)(1), by striking "lands" and inserting
 * "land";

(2) in subsection (a)(2), by striking "lands"; and (3) in subsection (d), by striking "tribal or trust land" and inserting "trust or otherwise restricted land". (j) SHARED APPRECIATION MORTGAGES.—Section 253 of the

Na-

tional Housing Act is amended— (1) in subsection (b), by striking the fourth sentence and inserting the following: "For purposes of this section, the term 'net appreciated value' means the amount by which the sales price of the property (less the mortgagor's selling costs) exceeds the actual project cost after completion, as approved by the Secretary."; (2) in the first sentence of subsection (c), by striking "204" and inserting "207"; and (3) in subsection (c), by striking the last sentence and inserting the following: "The term 'original principal face amount of the mortgage' as used in section 207 shall not include the mortgagee's share of net appreciated value.". (k) DEFENSE HOUSING FOR IMPACTED AREAS.—The first sentence of section 810(h) of the National Housing Act is amended— (1) by striking "(exclusive of premium charges for insurance) at not to exceed the rate applicable to mortgages insured under section 207" and inserting the following: "at such rate as may be agreed upon by the mortgagor and the mortgagee"; and (2) by striking "not to exceed the rate applicable to mortgages insured under section 203" and inserting the following: "such rate as may be agreed upon by the mortgagor and the mortgagee".

12USei715z-18.

SEC. 430. RELEASE OF POOL FUNDS.

State and local governments. Contracts. 12 USC 1715Z-1.

(a) SECTION 236.—Section 236 of the National Housing Act is amended by adding at the end thereof the following:

12 USC 1748h-2.

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