[Code of Federal Regulations]

[Title 24, Volume 4]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR811.106]



[Page 40]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

  CHAPTER VIII--OFFICE OF THE ASSISTANT SECRETARY FOR HOUSING-FEDERAL 

 

PART 811_TAX EXEMPTION OF OBLIGATIONS OF PUBLIC HOUSING AGENCIES AND 

RELATED AMENDMENTS--Table of Contents

 

Sec.  811.106  Default under the contract.



    If HUD finds there is a default under the Contract, the field office 

shall so notify the trustee and give the trustee a specified reasonable 

time to take action to require the owner to correct such default prior 

to any suspension or termination of payments under the contract. In the 

event of a default under the contract, HUD may terminate or suspend 

payments under the contract, may seek specific performance of the 

contract and may pursue other remedies.



[44 FR 12360, Mar. 6, 1979, as amended at 61 FR 14461, Apr. 1, 1996]