Page:United States Statutes at Large Volume 88 Part 2.djvu/548

 1864

PUBLIC LAW 93-569-DEC. 31, 1974

[88 STAT.

(e) Section 1804 of title 38, United States Code, is amended by striking out in subsections (b) and (d) "under section 512 of that Act". Condominiums, ^^^^ ^ Section 1810 of title 38, United States Code, is amended as loans,

Mobile home lots, loans.

homes.

Used mobile

< n •

lollows: (1) by striking out in subsection (a)(5) the second sentence; (2) by adding at the end of subsection (a) a new paragraph as follows: "(6) To purchase a one-family residential unit in a new condominium housing development or project, or in a structure built and sold as a condominium, provided such development, project or structure is approved by the Administrator under such criteria as he shall prescribe."; (3) by striking out in subsection (c) "$12,500" and inserting in lieu thereof "$17,500"; and (4) by striking out subsection (d) in its entirety. SEC. 4. Section 1811(d)(2)(A) of title 38, United States Code, is amended by striking out "$12,500" wherever it appears and inserting in lieu thereof "$17,500". gj,^. 5 gcction 1819 of title 38, United States Code, is amended as /. n

follows: (1) by inserting in subsection (a) "or the mobile home lot loan guaranty benefit, or both," immediately after "loan guaranty benefit" each time it appears therein and by striking out "mobile home" immediately before "loan guaranteed" in the second sentence of such subsection; (2) by amending subsection (b) as follows: (A) by inserting " (1) " immediately after " (b) "; (B) by redesignating clauses (1) and (2) as clauses (A) and (B), respectively; and (C) by adding at the end thereof a new paragraph as follows: "(2) Subject to the limitations in subsection (d) of this section, a loan may be made to purchase a lot on which to place a mobile home if the veteran already has such a home. Such a loan may include an amount sufficient to pay expenses reasonably necessary for the appropriate preparation of such a lot, including, but not limited to, the installation of utility connections, sanitary facilities, and paving, and the construction of a suitable pad."; (3) by redesignating clauses (1) and (2) of the first sentence of subsection (c)(1) as clauses (A) and (B), respectively, and by striking out the word "and" at the end of clause (A), as redesignated, and inserting in lieu thereof "or the loan is for the purpose of purchasing a lot on which to place a mobile home previously purchased by the veteran, whether or not such mobile home was purchased with a loan guaranteed, insured or made by another Federal agency, and"; (4) \)j further amending paragraph (1) of subsection (c) by deleting in the first sentence the clause "or for the purchase of a used mobile home which is the security for a prior loan guaranteed or made under this section or for a loan guaranteed, insured or made by another Federal agency," and inserting in lieu thereof the following: "or for the purchase of a used mobile home which meets or exceeds minimum requirements for construction, design, and general acceptability prescribed by the Administrator,";

�