§811.106. Default under the contract.
24 C.F.R. § 811.106
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.
Notes, amendments, and revision history
Amendments
[44 FR 12360, Mar. 6, 1979, as amended at 61 FR 14461, Apr. 1, 1996]
Authority
Authority: Sec. 7(d), Dept. of HUD Act (42 U.S.C. 3535(d)); secs. 3(6), 5(b), 8, 11(b) of the U.S. Housing Act of 1937 (42 U.S.C. 1437a, 1437c, 1437f, and 1437).
Source
Source: 44 FR 12360, Mar. 6, 1979, unless otherwise noted.
Amendments
[44 FR 12360, Mar. 6, 1979, as amended at 61 FR 14461, Apr. 1, 1996]