Page:United States Statutes at Large Volume 88 Part 1.djvu/780

 736 Ante, p. 735.

Ante. p. 633.

PUBLIC LAW 93-383-AUG. 22, 1974

((.) SectioH 106(a)(1) of such Act is further amended by adding at the end thereof the following new subparagraph: "(iv) the provision of technical assistance to communities, particularly smaller communities, to assist such communities in planning, developing, and administering Community Development Programs pursuant to title I of the Housing and Community Development Act of 1974." (d) Section 106(a)(3) of such Act (as redesignated by subsection (b)(2) of this section) is amended by striking out "not to exceed $5,000,000" and inserting in lieu thereof "such sums as may be necessary". (e) Section 106(b)(1) of such Act is amended by inserting "or public housing agencies" immediately after "nonprofit organizations". (f) Section 106(b)(2) of such Act is amended by inserting "or public housing agency" immediately after "nonprofit organization". INTERSTATE

15 USC 1701.

15 USC 1702.

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[88 STAT.

LAND

SALES

SEC. 812. (a) Section 1402 of the Housing and Urban Development ^^^^ ^^ ^fjgg.g amended— (1) by inserting after "land" where it first appears in paragraph (3) the following: ", located in any State or in a foreign country,"; and (2) by inserting before the semicolon at the end of paragraph (7) the following: "or between any foreign country and any State". ^1^^ Section 1403(a) of such Act is amended by striking out "or" at the end of paragraph (9), by striking out the period at the end of paragraph (10) and inserting in lieu thereof "; or", and by adding after paragraph (10) the following new paragraph: " (11) the Sale or lease of real estate which is zoned by the appropriate governmental authority for industrial or commercial development, when— " (A) local authorities have approved access from such real estate to a public street or highway; " (B) the purchaser or lessee of such real estate is a duly organized corporation, partnership, trust, or business entity engaged in commercial or industrial business; " (C) the purchaser or lessee of such real estate is represented in the transaction of sale or lease by a representative of its own selection; " (D) the purchaser or lessee of such real estate affirms in writing to the seller that it either (i) is purchasing or leasing such real estate substantially for its own use or (ii) has a binding commitment to sell, lease, or sublease such real estate to an entity which meets the requirements of subparagraph (B), is engaged in commercial or industrial business, and is not affiliated with the seller or agent; and " (E) a policy of title insurance or title opinion is issued in connection with the transaction showing that title to the real estate purchased or leased is vested in the seller or lessor, subject only to such exceptions as may be approved in writing by such purchaser or the lessee prior to recordation of the instrument of conveyance or execution of the lease, but (i) nothing herein shall be construed as requiring the recordation of a lease, and (ii) any purchaser or lessee may waive, in writing in a separate document, the requirement of this subparagraph that a policy of title insurance or title opinion be issued in connection with the transaction."

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