---
kind: "section"
citation: "24 C.F.R. § 886.331"
title: "24"
number: "886.331"
heading: "Agreement to enter into housing assistance payments contract."
url: "https://uscodex.org/cfr/24/886.331"
---

# §886.331. Agreement to enter into housing assistance payments contract.

- (a) **Execution of agreement.** At the sales closing and prior to the Owner's commencement of any rehabilitation under this subpart, HUD will enter into an Agreement with the Owner which contains the following:
  - (1) A statement that the Owner agrees to rehabilitate the project unit(s) to make the unit(s) decent, safe, and sanitary in accordance with the work write-up, cost estimates, and this subpart.
  - (2) A date by which rehabilitation will have commenced and a deadline date by which the rehabilitated project unit(s) will be completed and ready for occupancy. The Agreement may provide for staged rehabilitation, occupancy, and payments under the contract.
  - (3) The Contract Rent which will be paid to the Owner once rehabilitation is completed, the Contract is executed, and the unit(s) is/are occupied by an eligible family.
  - (4) A date for final inspection of the unit(s) by HUD and the owner shall be specified. This date shall be as soon as possible after the deadline date specified pursuant to [paragraph (a)(2)](#a-2) of this section.
  - (5) **The term of the contract.**
- (b) **Agreement part of sales contract.** The Agreement will be prepared by HUD and incorporated into the Contract of Sale and Purchase. The Agreement shall include all required information in [paragraph (a)](#a) of this section and a statement specifying the Owner's responsibility for making relocation payments to Families temporarily displaced.

## Notes

### Amendments

[44 FR 70365, Dec. 6, 1979, as amended at 58 FR 43722, Aug. 17, 1993]

### Source

Source: 44 FR 70365, Dec. 6, 1979, unless otherwise noted.

### Authority

Authority: 42 U.S.C. 1437a, 1437c, 1437f, 3535(d), and 13611-13619.

### Amendments

[44 FR 70365, Dec. 6, 1979, as amended at 58 FR 43722, Aug. 17, 1993]