Md. Code Regs. 05.06.02.08

Current through Register Vol. 51, No. 24, December 2, 2024

Section 05.06.02.08 - Superior Mortgagee's Agreement

The holder of any superior mortgage on the project shall agree that:

A. The Fund shall have an opportunity to cure any monetary defaults under the superior mortgage;

B. Any defaults that the Fund is unable to cure shall be suspended for a reasonable period, if the Fund elects to keep current any payments due under the superior mortgage; and

C. The superior mortgagee shall notify the Fund of any events of default under the superior mortgage.

Md. Code Regs. 05.06.02.08