[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: 24CFR884.121]



[Page 121]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

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

 

PART 884_SECTION 8 HOUSING ASSISTANCE PAYMENTS PROGRAM, NEW CONSTRUCTION 

SET-ASIDE FOR SECTION 515 RURAL RENTAL HOUSING PROJECTS--Table of Contents

 

            Subpart A_Applicability, Scope and Basic Policies

 

Sec.  884.121  Rights of owner if PHA defaults under agreement 

(private-owner/PHA projects).



    The ACC and the Agreement shall contain a provision to the effect 

that in the event of failure of the PHA to comply with the Agreement 

with the Owner, the Owner shall have the right, if he is not in default, 

to demand that HUD determine, after notice to the PHA giving it a 

reasonable opportunity to take corrective action, whether a substantial 

default exists, and if HUD determines that such a default exists, that 

HUD assume the PHA's rights and obligations under the Agreement, and 

carry out the obligations of the PHA under the Agreement, including the 

obligation to enter into the Contract.