Sec. 1932.4. Defaults on mortgages not made by the corporation

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In cases of projects subject to mortgages made by any lender, except as to loans made by the corporation:
(a) the lender must give notice to the corporation of any default in payment of principal or interest on such mortgage by the owner;
(b) the corporation shall have 60 days upon receipt of such notice to assist the owner in curing the default; and
(c) the provisions of this section shall be made part of the regulatory agreement or other instrument.

                    
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