380
PUBLIC LAW 91-152-DEC. 24, 1969
[83 STAT.
sJlill^\2\f.' 12 USC i7i'5k.
(^) Section 220(d)(3)(A)(i) of such Act is amended by striking out "$20,000*' each place it appears and inserting in lieu thereof "$25,000". 79 Stat. 470. (c) Section 222(h)(3) of such Act is amended by striking out 12 USC 1715m. a^20,000" cach place it appears and inserting in lieu thereof "$25,000". I2 vie m°5 ^^) Section 234(c) of such Act is amended by striking out "$20,000" ^*
each pLice it appears and inserting in lieu thereof "$25,000". MOniLK iioaiKS
i2us^cm3
78 Stat. 774.
12 u?c 17 0 ^*3
6 8 Stat. 590.
56 Stat. 305.
55 Stat. 364.
^*^^' ^^^- ('^)(1) Section 207(a) of the National Housing Act is amended— (A) by striking out "trailer coach mobile dAvellings" in paragiuph (1) and inserting in lieu thereof "mobile homes"; (B) by striking out "trailer court or park" in paragraph (6) and inserting in lieu thereof "mobile home court or park"; and (C) by striking out "trailer coach mobile dwellings" in paragraph (6) and inserting in lieu thereof "mobile homes". (2) Section 207(c)(3) of such Act is amended by striking out "trailer courts or parks" and inserting in lieu thereof "mobile home courts or parks". (b) Section 207(c)(3) of such Act is amended by striking out "$1,800 per space or $500,000 per mortgage" and inserting in lieu thereof "$2,500 per space or $1,000,000 per mortgage". (^) Section 2 of such Act is amended —
(1) by inserting " (i) " after the words "for the purpose of" in the first sentence of subsection (a); (2) by inserting "; and for the purpose of (ii) financing the purchase of a mobile home to be used by the owner as his principal residence" before the period at the end of the first sentence of subsection (a); (3) by inserting "(other than mobile homes)" after "new residential structures" in clause (1) of subparagraph (iii) of the second paragraph of subsection (a); (4) by inserting the following new sentence at the end of subsection (a): "The Secretary is hereby authorized and directed, with respect to mobile homes to be financed under this section, to (i) prescribe minimum property standards to assure the livability and durability of the mobile home and the suitability of the site on which the mobile home is to be located; and (ii) obtain assurances from the borrower that the mobile home will be placed on a site which complies with the standards prescribed by the Secretary and with local zoning and other applicable local requirements."; (5) by inserting ", except that an obligation financing the purchase of a mobile home may be in an amount not exceeding $10,000" before the semicolon at the end of clause (1) in the first seuteuce of subsection (b); (6) by inserting ": Provided, That an obligation financing the purchase of a mobile home may have a maturity not in excess of twelve years and thirty-two days" before the semicolon at the end of clause (2) in the first sentence of subsection (b); and (7) by striking out "real property" each place it appears in subsection (c)(2) and inserting m lieu thereof "real or personal property".
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