...under section 403 of the Housing Amendments of 1955, which bid shall bear a reasonable relation to the Commissioner's estimate of the replacement cost...project when the proposed Improvements are completed : Provided, That the Commissioner's estimate of replacement cost may include the cost of the land,...

...$50,000,000; and (11) not exceed 90 percentum of the amount which the Commissioner estimates will be the replacement cost of the property or project when...proposed Improvements are completed (the replacement cost of the property or project may Include the land, the proposed physical Improvements, utilities within...

...mortgage insurance prior to the beginning of construction. The replacement cost of the property or project may include the land, the proposed physical improvements, utilities within the boundaries of the property or project, architect's fees, taxes, interest during construction, and other miscellaneous...

...principal obligation not in excess of 95 per centum of the amount which the Commissioner estimates will be the replacement cost of the property or project when the proposed improvements are completed: Provided, That the Commisioner may in his discretion require such mortgagor to be regulated or restricted...

...to exceed $10,000 in any geographical area where he finds that cost levels so require ; and "(iii) the Commissioner's estimate of the replacement cost...project when the proposed improvements are completed in the case of a property or project approved for mortgage insurance prior to the beginning of construction...

...to exceed $10,000 in any geographical area where he finds that cost levels so require ; and "(iii) the Commissioner's estimate of the replacement cost...project when the proposed improvements are completed in the ease of a property or project approved for mortgage insurance prior to the beginning of construction...

...not to exceed $10,000 in any geographical area where he finds that cost levels so require; and "(iii) the Commissioner's estimate of the replacement cost...project when the proposed improvements are completed in the case of a property or project approved for mortgage insurance prior to the beginning of construction...

...beginning of construction) of 00 per centum of the amount which the Commissioner estimates will be the replacement cost of the property or project when the proposed improvements arc completed (the replacement cost may include the land, the proposed physical improvements, utilities...

...improvements are completed if executed by a Private Mortgagor — Nonprofit or a Public Mortgagor. The replacement cost may include the land, the proposed physical improvements, utilities within the boundries of the land, architect's fees, taxes, interest during construction and other miscellaneous...

...the following: "not to exceed 90 per centum of the amount which the Commissioner estimates will be the replacement cost of the property or project when the proposed improvements are completed, which replacement cost of the property or project may include the Commissioner's estimate of the fair...