Code of Maryland Regulations
Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
Subtitle 06 - HOUSING INSURANCE
Chapter 05.06.02 - Tax Credit Bridge Loan Insurance
Section 05.06.02.08 - Superior Mortgagee's Agreement
Universal Citation: MD Code Reg 05.06.02.08
Current through Register Vol. 51, No. 6, March 22, 2024
The holder of any superior mortgage on the project shall agree that:
A. The Fund shall have an opportunity to cure any monetary defaults under the superior mortgage;
B. Any defaults that the Fund is unable to cure shall be suspended for a reasonable period, if the Fund elects to keep current any payments due under the superior mortgage; and
C. The superior mortgagee shall notify the Fund of any events of default under the superior mortgage.
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