[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: 24CFR886.120]



[Page 139]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

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

 

PART 886_SECTION 8 HOUSING ASSISTANCE PAYMENTS PROGRAM_SPECIAL ALLOCATIONS

--Table of Contents

 

 Subpart A_Additional Assistance Program for Projects With HUD-Insured 

                         and HUD-Held Mortgages

 

Sec.  886.120  Responsibility for contract administration.



    (a) HUD is responsible for administration of the Contract. HUD may 

contract with another entity for the performance of some or all of its 

Contract administration functions.

    (b) The Contract shall contain a provision to the effect (1) that if 

HUD determines that the Owner is not in compliance under the Contract, 

HUD shall notify the Owner of the actions required to be taken to 

restore compliance and of the remedies to be applied by HUD including 

abatement of Housing Assistance Payments and recovery of overpayments, 

where appropriate; and (2) that if he fails to comply, HUD has the right 

to terminate the Contract or to take other corrective action. A default 

under the Regulatory Agreement shall be treated as non-compliance under 

the Contract.