Page:United States Statutes at Large Volume 69.djvu/688

 646

PUBLIC LAW 345--AUG. 11, 1955

[69 S T A T.

fraternal, or honorary society or organization, and (B) upon dissolution of which all title to any property purchased or built from the proceeds of any loan secured under this title will pass to such institution."; and (2) adding at the end thereof the following new subsection: " (h) 'Other educational facilities' means (1) new structures suitable for use as cafeterias or dining halls, student centers or student unions, infirmaries or other inpatient or outpatient health facilities, and for other essential service facilities, and (2) structures suitable for the above uses provided by rehabilitation, alteration, conversion, or improvement of existing structures which are otherwise inadequate for such uses.". SEC. 304. This title may be cited as the "College Housing Amendments of 1955". TITLE IV — A R M E D SERVICES H O U S I N G MORTGAGE INSURANCE 12 ^tlc Y748 et SEC. 401. Title VIII of the National Housing Act, as amended, is se» hereby amended to read as follows: " TITLE VIII — A R M E D SERVICES H O U S I N G MORTGAGE INSURANCE "SEC. 801. As used in this title— "(a) The term 'mortgage' means a first mortgage on real estate, in fee simple, or on a leasehold (1) under a lease for not less than ninety-nine years which is renewable; or (2) under a lease for a period of not less than fifty years to run from the date the mortgage was executed; and the term 'first mortgage' means such classes of first liens as are commonly given to secure advances on, or the unpaid purchase price of, real estate, under the laws of the State in which the real estate is located, together with the credit instruments, if any, secured thereby. "(b) The term 'mortgagee' includes the original lender under a mortgage, and his successors and assigns approved by the Commissioner; and the term 'mortgagor' includes the original borrower under a mortgage, his successors and assigns. "(c) The term 'maturity date' means the date on which the mortgage indebtedness would be extinguished if paid in accordance with periodic payments provided for in the mortgage. " (d) The term 'housing accommodations' means housing designed for occupancy by military personnel and their dependents, assigned to duty at or near the military installation where such housing units are constructed. "(e) The term 'personnel' shall include military and civilian personnel approved by the Secretary of Defense, or his designee, and the dependents of all such personnel. "(f) The term 'military' includes Army, Navy, Marine Corps, Air Force, and Coast Guard. " (g) The term 'State' includes the several States and Alaska, Hawaii, Puerto Rico, the District of Columbia, Guam, and the Virgin Islands. H^'^ngs MoSage "SEC. 802. The Military Housing Insurance Fund created by this Insurance Fund. section pHor to amendment thereto shall hereafter be known as the Armed Services Housing Mortgage Insurance Fund. General expenses of operation of the Federal Housing Administration under this title (including operations with respect to mortgages insured or

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