Page:United States Statutes at Large Volume 73.djvu/696

 668

69 Stat. 635. 68 Stat. 598.

12 USC nisi.

PUBLIC LAW 86-87a«SEPT. 38, 1969

[78 S T A T J

mortgage by an amount not less than 15 per centum of the outstanding principal amount thereof in the event the mortgaged property is not, prior to the due date of the eighteenth amortization payment of the mortgage, sold to a purchaser acceptable to the Commissioner who is th6 occupant of the property and who assumes and agrees to pay the mortgage indebtedness". (^j Subsection (d)(3)(B)(i) of section 220 of such Act is amended by striking out '^$12,500,000^' and inserting in lieu thereof "$20,000,000". (-^j ^ubsection (d)(3)(B) (iii) of section 220 of such Act is amended— (1) by striking out "$2,250" each place it appears and inserting in lieu thereof "$2,500"; (2) by striking out "$8,100" each place it appears and inserting in lieu thereof "$9,000"; (3) by striking out "$2,700" and inserting in lieu thereof "$3,000"; (4) by striking out "$8,400" and inserting in lieu thereof "$9,400"; and (5) by striking out "$1,000" and inserting in lieu thereof "$1,250". (d) Subsection (d)(3)(B) ( i i i) of section 220 of such Act is further amended by inserting after "dwelling use" the following: "(excluding exterior land improvements as defined by the Commissioner) ". (e) Subsection (d)(3)(B) of section 220 of such Act is further amended by striking out "and" at the end of clause (ii), by striking out the period at the end of clause (iii) and inserting in lieu thereof "; and", and by adding at the end thereof the following new clause: "(iv) include such nondwelling facilities as the Commissioner deems adequate to serve the needs of the occupants of the property and of other housing in the neighborhood." SEcnoN 221

RELOCATION HOUSING MORTGAGE INSURANCE

SEC. 110. (a)(1) The first paragraph of section 221(a) of the Na68 Stat. 599. tional Housing Act is amended to read as follows: "This section is designed to supplement systems of mortgage insurI2 u#c i^of.' ance under other provisions of the National Housing Act in order to assist (1) in relocating families from urban renewal areas, (2) in relocating families to be displaced as the result of governmental action I in a community respecting which (A) the Housing and Home Finance Administrator has made the certification to the Commissioner pro42 USC 1451. vided for by subsection 101(c) of the Housing Act of 1949, as amended, or (B) there is being carried out a project covered by a Federal aid contract executed, or prior approval granted, by the Housing and Home Finance Administrator under title I of the Housing Act 42 vie ^45*1 et ^^ 1949, as amended, before the effective date of the Housing Act of aeq. 1954, Or (C) there is being carried out an urban renewal project 12 USC ino. assisted under section 111 of the Housing Act of 1949, as amended, and 42 USC 1462. (3) in relocating families residing in the environs of a community described in clause (2) which are to be displaced as the result of governmental action." 68 Stat. 599. (2) The secoud paragraph of section 221(a) of such Act is amended— (A) by striking out all that precedes the first colon and inserting in lieu thereof the following: "Mortgage insurance under this section shall be available only in those localities, communities, or environs of communities, which shall have requested such mortgage insurance to be provided";

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