,i  #aag? ,,congress  #b;d ,session  ,h4
 ,r4 #hcjd  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,july #g1 #bjbb,mr4   
,cri/ 7= himself & ,ms4 ,wass]man       
,s*ultz7 introduc$ ! foll[+ bill2 :i* 0 
ref]r$ to ! ,committee on ,f9ancial     
,s]vices  ,a ,,bill  ,to au?orize !     
,secret>y ( ,h\s+ & ,urban ,developm5t  
to insure loans made to condom9ium      
associations to f9ance repair or        
replacem5t ( common areas1 sy/ems1 &    
features1 & = o!r purposes4  #a4 ,%ort  
title ,?is ,act may be cit$ z ! ,rapid  
,f9anc+ = ,critical ,condo ,repairs ,act
 ( #bjbb4  #b4 ,insurance ( mortgages to
 f9ance repair & replacem5t ( common    
facilities ( condom9ium projects        
,section #bcd ( ! ,national ,h\s+ ,act  
7#ab ,u4,s4,c4 #agaey7 is am5d$-- 7#a7 9
 subsection 7a71 by ins]t+ & pres]v+    
aft] increas+2  7#b7 9 ! fir/ s5t5ce (  
subsection 7b71 by ins]t+ be=e ! p]iod  
at ! end ! foll[+3 1 & except t ! t]m   
mortgage1 = ! purposes ( subsection 7l71
 includes a loan f9anc+ ! co/s ( a      

rehabilitation1 alt]ation1 repair1      
improvem5t1 or replacem5t ( any common  
sy/em1 infra/ructure1 facility1 feature1
 portion1 or area s]v+ a condom9ium     
project & t is secur$ by future li5-bas$
 m&atory unit own] paym5ts requir$      
pursuant to ,/ate /atute1 a record$     
decl>ation ( cov5ants1 or lawful rule1  
by-law1 or guidel9e adopt$ by ! gov]n+  
body ( ! condom9ium project1 real       
prop]ty1 or a comb9ation !re(2  7#c7 by 
add+ at ! end ! foll[+ new subsection3  
7l7 ,insurance ( mortgages ,to f9ance   
repairs & replacem5ts ( common          
facilities  7#a7 ,9 g5]al ,9 addition to
 mortgages insur$ "u ! o!r provisions ( 
?is section1 ! ,secret>y may insure1 9 !
 discretion ( ! ,secret>y & "u su* t]ms 
& conditions z ! ,secret>y may          
prescribe1 a mortgage-- 7,a7 t f9ances1 
9 ! case ( condom9ium projects1 ! co/s (
 a rehabilitation1 alt]ation1 repair1   
improvem5t1 or replacem5t ( any common  
sy/em1 infra/ructure1 facility1 feature1
 portion1 or area s]v+ ! project2 &     

7,b7 "u :i* ! mortgagor is ! gov]n+ body
 ( ! condom9ium project4  7#b7 ,loan    
limit ,to be eligible = insurance "u ?is
 subsection1 a mortgage may n involve a 
pr9cipal obligation 9 an am\nt exce$+   
#ij p]c5t ( ! co/ ( ! propos$           
rehabilitation1 alt]ation1 repair1      
improvem5t1 or replacem5t project4  2 & 
7#d7 9 subsection 7h71 by ins]t+ or 7l7 
aft] subsection 7d74