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Title 22 Part 204 → Subpart C → §204.22

Title 22 → Chapter II → Part 204 → Subpart C → §204.22

Electronic Code of Federal Regulations e-CFR

Title 22 Part 204 → Subpart C → §204.22

e-CFR data is current as of October 10, 2019

Title 22Chapter IIPart 204Subpart C → §204.22


Title 22: Foreign Relations
PART 204—HOUSING GUARANTY STANDARD TERMS AND CONDITIONS
Subpart C—Procedure for Obtaining Compensation


§204.22   Right of A.I.D. to cure default.

Within sixty (60) days after the Date of Application for Compensation, A.I.D. may at any time make payments to the Lender or any Assignee equal to all installments of principal due and unpaid under any Note (other than installments whose maturity has been accelerated), together with interest on the unpaid principal amount of the Note to the date of such payment by A.I.D., and any Further Guaranteed payments due and unpaid, and thereby prevent or cure any default under the Note. Upon such a payment by A.I.D., if the Lender or Assignee shall have accelerated such Note, such acceleration shall be immediately rescinded or, if such Note shall not have been accelerated, such Note shall not thereafter be accelerated as a result of such Event of Default.


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