,i #aai? ,,congress #b;d ,session ,h4 ,r4 #iefi ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,june #cj1 #bjbf,ms4 ,wass]man ,s*ultz 7= h]self & ,ms4 ,salaz>7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,f9ancial ,s]vices ,a ,,bill ,to am5d ! ,national ,h\s+ ,act to au?orize insurance ( c]ta9 mortgages to f9ance repairs & improvem5ts to condom9ium projects1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,mak+ ,condos ,saf] & ,af=dable ,act ( #bjbf4 #b4 ,insurance ( mortgages = condom9ium associations 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 #c4 ,insurance ( mortgages = own]s ( condom9ium units to f9ance special assessm5ts 7a7 ,section #bjc7k7 rehabilitation loans ,section #bjc7k7 ( ! ,national ,h\s+ ,act 7#ab ,u4,s4,c4 #agji7k77 is am5d$-- 7#a7 9 p>agraph 7#b7-- 7,a7 9 subp>agraph 7,a7-- 7i7 9 clause 7ii71 by /rik+ or at ! end2 7ii7 9 clause 7iii71 by /rik+ & at ! end & ins]t+ or2 & 7iii7 by add+ at ! end ! foll[+ new clause3 7iv7 9 ! case ( a dwell+ unit 9 a condom9ium & not)/&+ any o!r law1 regulation1 or guidel9e ( ! ,secret>y1 includ+ subp>t ,c ( "p ,,ii ( ! ,,fha ,s+le ,family ,policy ,h&book #djjj4a ( ! ,dep>tm5t ( ,h\s+ & ,urban ,developm5t1 ! paym5t ( a non-regul> assessm5t *>g$ by ! gov]n+ body ( ! condom9ium project to ! unit own] to cov] co/s ( a future rehabilitation1 alt]ation1 repair1 improvem5t1 or replacem5t ( any common sy/em1 infra/ructure1 facility1 feature1 portion1 or area s]v+ ! project2 & 2 & 7,b7 9 subp>agraph 7,b71 by ins]t+ or ! fund+ ( res]ves = future project-level improvem5ts or repairs1 aft] 9 connection ) a /ructure12 7#b7 9 p>agraph 7#c77;,a7-- 7,a7 by ins]t+ ! great] ( 7i7 be=e ! sum ( ! e/imat$ co/ ( rehabilitation2 & 7,b7 by ins]t+ be=e ! semicolon at ! end ! foll[+3 1 or 7ii7 ! ,secret>y's e/imate ( ! value ( ! prop]ty aft] rehabilitation2 except t 9 no case %all ! pr9cipal obligation exce$ #aae p]c5t ( ! ,secret>y's e/imate ( ! value ( ! prop]ty aft] rehabilitation2 7#c7 by r$esignat+ p>agraphs 7#e7 & 7#f7 z p>agraphs 7#f7 & 7#g72 & 7#d7 by ins]t+ aft] p>agraph 7#d7 ! foll[+ new p>agraph3 7#e7 ,! ,secret>y %all /reaml9e regulations & guidel9es applicable to v]ification ( rehabilitation & repair plans1 managem5t ( rehabilitation "w1 disbursem5t ( loan proce$s1 & c]tification ( "w completion = any rehabilitation loan insur$ "u ?is subsection = purposes ( paym5t ( a non-regul> assessm5t describ$ 9 p>agraph 7#b77;,a77iv7 or paym5t ( res]ves = future project-level improvem5ts or repairs describ$ 9 p>agraph 7#b77;,b7 to acc\nt = managem5t ( su* rehabilitation "w or res]ves by ! gov]n+ body ( ! condom9ium project4 4 7b7 ,title ,i prop]ty improvem5t loans ,section #b ( ! ,national ,h\s+ ,act 7#ab ,u4,s4,c4 #agjc7 is am5d$-- 7#a7 9 ! fir/ s5t5ce ( subsection 7a7-- 7,a7 by ins]t+ 7iii7 be=e f9anc+ ! pres]vation ( hi/oric /ructures2 & 7,b7 by ins]t+ be=e ! p]iod at ! end ! foll[+3 2 & = ! purpose ( 7iv7 f9anc+1 9 ! case ( a dwell+ unit 9 a condom9ium & not)/&+ any o!r law1 regulation1 or guidel9e ( ! ,secret>y1 includ+ subp>t ,c ( "p ,,ii ( ! ,,fha ,s+le ,family ,policy ,h&book #djjj4a ( ! ,dep>tm5t ( ,h\s+ & ,urban ,developm5t1 ! paym5t ( a non-regul> assessm5t *>g$ by ! gov]n+ body ( ! condom9ium project to ! unit own] to cov] co/s ( a future rehabilitation1 alt]ation1 repair1 improvem5t1 or replacem5t ( any common sy/em1 infra/ructure1 facility1 feature1 portion1 or area s]v+ ! project2 & 7#b7 9 subsection 7b77#a7-- 7,a7 9 subp>agraph 7,a77i7-- 7i7 by /rik+ #be1jjj & ins]t+ #ee1jjj2 & 7ii7 by ins]t+ be=e ! semicolon ! foll[+3 or a non-regul> assessm5t *>g$ by ! gov]n+ body ( ! condom9ium project to ! unit own] to cov] co/s ( rehabilitation1 alt]ation1 repair1 improvem5t1 or replacem5t ( any common sy/em1 infra/ructure1 facility1 feature1 portion1 or area s]v+ ! project2 & 7,b7 9 ! matt] aft] & bel[ subp>agraph 7,g71 by add+ at ! end ! foll[+3 ,! ,secret>y %all1 by regulation1 annually increase ! doll> am\nt limitations 9 subp>agraphs 7,a77i71 7,b71 & 7,f7 7z su* limitations may h be5 previ\sly adju/$ "u ?is s5t5ce7 9 accordance ) ! ,consum] ,price ,index = ,all ,urban ,consum]s 7,,cpi-,u744