Page:United States Statutes at Large Volume 83.djvu/426

 398

PUBLIC LAW 91-152-DEC. 24, 1969

[83 STAT.

I N T E R S T A T E LAND SALES

82 Stat. 591.

15 USC 1702.

SEC. 411. Section 1403(a) (10) of the Housing and Urban Development Act of 1968 is amended to read as follows: "(10) the sale or lease of real estate which is free and clear of all liens, encumbrances, and adverse claims if each and every purchaser or his or her spouse has made a personal on-the-lot inspection of the real estate which he purchased and if the developer executes a written affirmation to that effect to be made a matter of record in accordance with rules and regulations of the Secretary. As used in this subparagraph, the terms 'liens', 'encumbrances', and 'adverse claims' do not refer to property reservations which land developers commonly convey or dedicate to local bodies or public utilities for the purpose of bringing public services to the land being developed, nor to taxes and assessments imposed by a State, by any other public body having authority to assess and tax property, or by a property owners' association, which, under applicable State or local law, constitute liens on the property before they are due and payable, nor to beneficial property restrictions which would be enforceable by other lot owners or lessees in the subdivision, if (A) the developer, prior to the time the contract of sale or lease is entered into, has furnished each purchaser or lessee with a statement, the form and content of which has been approved by the Secretary, setting forth in descriptive and concise terms all such reservations, taxes, assessments, and restrictions which are applicable to the lot to be purchased or leased, and (B) receipt of such statement has been acknowledged in writing by the purchaser or lessee, and a copy of the acknowledged statement is filed with the Secretary in accordance with such rules and regulations as he may require." REPORTS

82 Stat. 602. 42 USC 1441c. 82 Stat. 479. 12 USC 17152. 82 Stat. 500. 12 USC 17152-1

SEC. 412. ^a) Section 1603 of the Housing and Urban Development Act of 1968 IS amended by striking out "January 15," and inserting in lieu thereof "February 15,". (b) The last sentence of section 235(h)(2) of the National Housing Act is amended by striking out "annually" and inserting in lieu thereof ''semiannually". (c) The last sentence of section 236(i)(2) of the National Housing Act is amended by striking out "annually" and inserting in lieu thereof "semiannually". RURAL

63 Stat. 438. 76 Stat. 671. 79 Stat. 498. Ante, p. 125. 42 USC 1483, 1485, 1487. Sale of a s s e t s.

42 Stat,, 20. 31 USC 1.

HOUSING

SEC. 413. (a) Sections 513, 515(b)(5), and 517(a)(1) of the Housing Act of 1949 are each amended by striking out "January 1, 1970" wherever it appears and inserting m lieu thereof "October 1, 1973". (b) Section 517(c) of such Act is amended by striking out all that follows "section" and inserting in lieu thereof a period. (c) Section 517 of such Act is amended by adding at the end thereof the following new subsection: " (k) Any sale by the Secretary of loans individually or in blocks, pursuant to subsections (c) and (g), shall be treated as a sale of assets for the purposes of the Budget and Accounting Act, 1921, notwithstanding the fact that the Secretary, under an agreement

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