...(c) The mortgage shall — (1) * * * (2) not exceed 90 per centum of the amount which the Secretary estimates will be the replacement cost of the property or project when construction or rehabilitation is completed. The replacement cost of the property may include the land,...

...(c). (c) The mortgage shall — (I)4 (2) not exceed 90 per centum of the amount which the Secretary estimates will be the replacement cost of the property or project when construction or rehabilitation is completed. The replacement cost 5 of the property may include the...

...involve a principal obligation in an amount not to exceed 90 per centum of the amount which the Secretary estimates will be the replacement cost of the property or project when the proposed physical improvements are completed, and shall include an allowance for investor-sponsor's profit and...

...involve a principal obligation in an amount not to exceed 90 per centum of the amount which the Secretary estimates will be the replacement cost of the property or project when the proposed physical improvements are completed, and shall include an allowance for investor-sponsor's profit and...

...involve a nrincipal obligation in an amount not to exceed 90 per centum of the amount which the Secretary estimates will be the replacement cost of the property or project when the 91 proposed physical improvements are completed: And provided further, That upon the sale of a property...

...cost of the property or project when the proposed improvements are completed (the replacement cost may include the land, the proposed physical improvements, utilities within the boundaries of the land, architect's fees, taxes, incident to construction and approved by the Secretary), or (2) in the...

...The mortgage shall — (1) [Repealed.] (2) not exceed 90 per centum of the amount which the Secretary estimates will be the replacement cost of the property or project when construction or rehabilitation is completed. The replacement cost of the property may include the land...

...involve a principal obligation in an amount not to exceed 90 per centum of the amount which the Secretary estimates will be the replacement cost of the property or project when the proposed physical improvements are completed: And provided further, That upon the sale of a property or project...

...estimated by the Commissioner, cf the property or project when tha proposed improvements are completed. It may include the land, the proposed physical improvements, utilities within the boundaries oí the land, architect's fees, taxes, interest during construction and such other items of cost as...

...cost of the property or project when the proposed improvements are completed (the replacement costs may include the land, the proposed physical improvements, utilities within the boundaries 01 the land, architect's fees, taxes, interest during construction, and other miscellaneous changes...