New Mexico Administrative Code
Title 4 - CULTURAL RESOURCES
Chapter 10 - CULTURAL PROPERTIES AND HISTORIC PRESERVATION
Part 2 - HISTORIC PRESERVATION LOAN FUND
Section 4.10.2.12 - HPL CONTRIBUTIONS - INELIGIBLE COSTS
Universal Citation: 4 NM Admin Code 4.10.2.12
Current through Register Vol. 35, No. 18, September 24, 2024
A. HPL contributions to the loan pool shall not be used to pay costs of land acquisition, legal costs, fiscal agents' fees, loan origination fees, points, or other charges incurred by the borrower or which may be imposed by the lending institution or other lending entity, including fees described in 4.10.2.17 NMAC of these regulations and costs that are not expressly permitted in 4.10.2.11 NMAC of these regulations.
B. The borrower shall not apply HPL funds contributions to the loan pool toward the acquisition or purchase of property.
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