Sec. 87.21. Charges for development period

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Public Health Law, §§ 2868, 2881
The governmental supervising agency charges for the development period from inception of the project to, but not including, the occupancy date, for mortgage closings on or after July 1, 1970, shall be nine-tenths of one percent of the mortgage loan, payable on requisition on or after the mortgage closing to the State Department of Health by the mortgagor. Adjustments of charges for the development period shall be made by adjusting future operational period payments.

                    
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