2028 HOYT AVE 2016-01-01 MF Import

"'SPC. �13. (a) The Congress hereby decleres that it has been its intent since the enacemen: o( the National Housing Act Ihat housing 6uilt with the aid o[ mortgages insured unde� Ihat Act is to be used p�inci- pally fm residential use; and �hat this intent excludes the use o( such housing for transient or hotel pueposes while such insurance un thr mortgage remains outstending. .��b� "(c) Notwithstanding a,ry other provisions oE this Act, no mortgage with respect to mulufamily housing shall be insured under lhis Act . . . . . . . . . . uniess (1) lhe mortRagor certi(ies under oath that while such insurance remains outstanding he will not rent, o� permit the rentai o(, such housing or an}• part the+eof for �hP transient or hotel pu�poses, and (2) the Secreta�y has enteced into such contract with . . . . . . . . . . . moctgagor as the Secretary deems necessary to enable him to prevent or �erminate any use ot such property oe project (ar :ransient oc holel purposes while the mortgage insurance remains outstanding. ,��d� "(e) As used in this secli on. (1) the term 'renlal fo: lcansient oc hotel purposes' sF.all have sueh mcan- ing as p�escribed by the Seeretary out rentel (ot any period lessc�hall mean �iB es �o er[nheld bveetnc�aLgt�ig�[e rental (or such purpases, and (2) the term 'multi(amily housing' � ��) P P Y Y upon which there are located Iive or more single (amily dwellings, or upon which there is lowted a two•,threc-, or (our-(amily dwelling . . . � cvo e6��s9 � 1 :.�,., ,.�,...,,,�,<.o..,�. ,.,:.,..<,.,,,...: