§886.111. Term of contract.
24 C.F.R. § 886.111
A Contract may be for an initial term of not more than 5 years, renewable for successive 5 year terms by agreement between HUD and the Owner: Provided, That the total Contract term, including renewals, shall not exceed 15 years.
Notes, amendments, and revision history
Source
Source: 42 FR 5603, Jan. 28, 1977, unless otherwise noted.
Authority
Authority: 42 U.S.C. 1437a, 1437c, 1437f, 3535(d), and 13611-13619.