Page:United States Statutes at Large Volume 93.djvu/1148

 93 STAT. 1116

PUBLIC LAW 96-153—DEC. 21, 1979

apply to the mortgage or loan in the absence of such graduated payment mortgage provisions, or (2) requiring a minimum amortization of principal under the mortgage or loan.". FEDERAL HOUSING ADMINISTRATION MORTGAGE LIMITS 12 USC 1709.

12 USC 1715k.

12 USC 1715m, 1715y.

SEC. 312. (a) Section 203(b)(2) of the National Housing Act is amended by striking out everything through "or $75,000 in the case of a four-family residence;" and inserting in lieu thereof the following: "(2) Involve a principal obligation (including such initial service charges, appraisal, inspection, and other fees as the Secretary shall approve) in an amount not to exceed $67,500 in the case of property upon which there is located a dwelling designed principally for a one-family residence; or $76,000 in the case of a twofamily residence (whether or not such one- or two-family residence may be intended to be rented temporarily for school purposes); or $92,000 in the case of a three-family residence, or $107,000 in the case of a four-family residence;". (b) Section 220(d)(3)(A)(i) of such Act is amended— (1) by striking out "$60,000" and inserting in lieu thereof "$67,500"; (2) by striking out "$65,000" the first time it appears and inserting in lieu thereof "$76,000"; (3) by striking out "$65,000" the second time it appears and inserting in lieu thereof "$92,000"; (4) by striking out "$75,000" and inserting in lieu thereof "$107,000"; and (5) by striking out "$7,700" and inserting in lieu thereof "$8,250". (c) Section 222(b)(2) and section 234(c) of such Act are amended by striking out "$60,000" in each such section and inserting in lieu thereof "$67,500". LOANS FOR MOBILE HOMES AND LOTS

12 USC 1703.

SEC. 313. (a) Section 2(b) of the National Housing Act is amended— (1) by striking out "$16,000 ($24,000 in the case of a mobile home composed of two or more modules" in the first sentence and inserting in lieu thereof "$18,000 ($27,000 in the case of a mobile home containing two or more modules"; (2) by striking out subparagraph (A) of the second paragraph and inserting in lieu thereof the following: "(A) involve such an amount not exceeding $24,000 ($33,000 in the case of a mobile home composed of two or more modples); and"; (3) by striking out "fifteen years and thirty-two days (twentythree" in subparagraph (B) of the second paragraph and inserting in lieu thereof "twenty years and thirty-two days (twentyfive"; (4) by striking out subparagraph (A) of the third paragraph and inserting in lieu thereof the following: "(A) involve such an amount not exceeding $27,500 ($36,500 in the case of a mobile home composed of two or more modules); and"; (5) by striking out "fifteen years and thirty-two days (twentythree" in subparagraph (B) of the third paragraph and inserting in lieu thereof "twenty years and thirty-two days (twenty-five";

�