Page:United States Statutes at Large Volume 95.djvu/437

 PUBLIC LAW 97-35—AUG. 13, 1981

95 STAT. 411

space on which a manufactured home is located and with respect to which assistance payments are to be made. The maximum monthly rent shall not exceed by more than 10 per centum the fair market rental established by the Secretary periodically (but not less than annually) with respect to the market area for the rental of real property suitable for occupancy by families assisted under this paragraph. "(B) The amount of any monthly assistance payment with respect to any family which rents real property which is assisted under this paragraph, and on which is located a manufactured home which is owned by such family shall be the difference between the rent the family is required to pay under section 3(a) of this Act and the sum 42 USC I437a. of— "(i) the monthly payment made by such family to amortize the cost of purchasing the manufactured home; "(ii) the monthly utility payments made by such family, subject to reasonable limitations prescribed by the Secretary; and "(iii) the maximum monthly rent permitted with respect to the real property which is rented by such family for the purpose of locating its manufactured home; except that in no case may such assistance exceed the total amount of such maximum monthly rent. "(3)(A) Contracts entered into pursuant to this paragraph shall Maximum establish the maximum monthly rent permitted with respect to the monthly manufactured home and the real property on which it is located and rent. with respect to which assistance payments are to be made. The maximum monthly, rent shall not exceed by more than 10 per centum the fair market rental established by the Secretary periodically (but not less than annually) with respect to the market area for the rental of a manufactured home and the real property on which it is located suitable for occupancy by families assisted under this paragraph, except that the maximum monthly rent may exceed the fair market rental by more than 10 but not more than 20 per centum where the Secretary determines that special circumstances warrant such higher maximum rent. "(B) The amount of any monthly assistance payment with respect to any family which rents a manufactured home and the real property on which it is located and which is assisted under this paragraph shall be the difference between the rent the family is required to pay under section 3(a) of this Act and the sum of^ "(i) the monthly utility payments made by such family, subject to reeisonable limitations prescribed by the Secretary; and "(ii) the maximum monthly rent permitted with respect to the manufactured home and the real property on which it is located. "(4) The provisions of subsection (c)(2) of this section shall apply to the adjustments of maximum monthly rents under this subsection. "(5) Each contract entered into under this subsection shall be for a Contract terms. term of not less than one month and not more than 180 months, except that in any case in which the manufactured home park is substantially rehabilitated or newly constructed, such term may not be less than 240 months, nor more than the maximum term for a manufactured home loan permitted under section 2(b) of the National Post, p. 414. Housing Act. "(6) The Secretary may carry out this subsection without regard to whether the manufactured home park is existing, substantially rehabilitated, or newly constructed.

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