Page:United States Statutes at Large Volume 94 Part 2.djvu/362

 94 STAT. 1640

PUBLIC LAW 96-399—OCT. 8, 1980 DEFINITION OF MORTGAGE UNDER THE NATIONAL HOUSING ACT

12 USC 1707.

SEC. 306. Section 201(a) of the National Housing Act is amended by striking out "having a period of not less than fifty years to run from the date the mortgage was executed" and inserting in lieu thereof "having a period of not less than ten years to run beyond the maturity date of the mortgage". REUEF OF THE CITY OF SPRINGFIELD, ILLINOIS

42 USC 1500.

SEC. 307. Notwithstanding the provisions of title VII of the Housing Act of 1961 or any other law, the transactions under which land acquired by the city of Springfield, Illinois, in connection with OpenSpace Projects Numbered I11.-0SC-171 (DL) and Numbered I11.-OSC-246 (DL) was transferred by such city to the United States Department of the Interior for the Lincoln Home National Historic Site shall be deemed to have been made in accordance with all provisions of title VII of such Act and of any other law and with any regulations or other requirements in implementation thereof. MANUFACTURED HOUSING

12 USC 1703.

12 USC 1701 note. 12 USC 1715z.

SEC. 308. (a) Section 20D) of the National Housing Act is amended— (1) by striking out "$18,000 ($27,000 in the case of a mobile home containing two or more modules)" in the first sentence and inserting in lieu thereof "$20,000 ($30,000 in the case of a manufactured home composed of two or more modules)"; (2) by striking out subparagraph (A) of the second paragraph and inserting in lieu thereof the following: "(A) involve an amount not exceeding $26,675 ($36,675 in the case of a manufactured home composed of more than two modules); and"; (3) by striking out subparagraph (A) of the third paragraph and inserting in lieu thereof the following: "(A) involve an amount not exceeding $30,550 ($40,550 in the case of a manufactured home composed of two or more modules); and"; and (4) by striking out "$6,250 in the case of an undeveloped lot, or (ii) $9,375" in the fourth paragraph and inserting in lieu thereof "$6,950 in the case of an undeveloped lot, or (ii) $10,425". (b) Section 2(b) of the National Housing Act is amended by adding the following new sentence at the end of the last paragraph: In other areas where there are high land costs or high set-up costs, the Secretary may, by regulation, increase any such dollar amount limitation to— "(1) $32,500 (or $43,000 with respect to a manufactured home composed of two or more modules) in the case of a manufactured home and an undeveloped lot; "(2) $38,100 (or $49,000 with respect to a manufactured home composed of two or more modules) in the case of a manufactured home and a developed lot; and "(3) $11,750 (or $17,450 with respect to a developed lot) in the case of a lot in which to place a manufactured home.". (c)(1) The National Housing Act is amended by striking out "mobile home" each place it appears and inserting in lieu thereof "manufactured home". (2) Section 235(a)(2)(B) of such Act is amended by striking out "mobile homeowner" and "mobile homeowner's" and inserting in

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