24 C.F.R. § 200.96

Certificates of actual cost

Read at: eCFRecfr.gov CornellLII GovInfogovinfo.gov CasesGoogle Scholar

(a) The mortgagor's certificate of actual cost, in a form prescribed by the Commissioner, shall be submitted upon completion of the physical improvements to the satisfaction of the Commissioner and before final endorsement, except that in the case of an existing project that does not require substantial rehabilitation and where the commitment provides for completion of specified repairs after endorsement, a supplemental certificate of actual cost will be submitted covering the completed costs of any such repairs. The certificate shall show the actual cost to the mortgagor, after deduction of any kickbacks, rebates, trade discounts, or other similar payments to the mortgagor, or to any of its officers, directors, stockholders, partners or other entity member ownership, of construction and other costs, as prescribed by the Commissioner.

(b) The Certificate of Actual Cost shall be verified by an independent Certified Public Accountant or independent public accountant in a manner acceptable to the Commissioner.

(c) Upon the Commissioner's approval of the mortgagor's certification of actual cost such certification shall be final and incontestable except for fraud or material misrepresentation on the part of the mortgagor.

Notes of Decisions

Cited in 2 cases, 2006–2010 · leading case: Am. Mfrs. Mut. Ins. v. Payton Lane Nursing Home, Inc., 704 F. Supp. 2d 177 (E.D.N.Y 2010).

Sort: Relevance Newest Treatment

Am. Mfrs. Mut. Ins. v. Payton Lane Nursing Home, Inc., 704 F. Supp. 2d 177 (E.D.N.Y 2010). · cites it 4× “Finally, the Sureties argue that under HUD Regulation 24 C.F.R. § 200.96 , Payton Lane was required “to account for any alleged delay damages as part of the cost-certification process.”

G.C. Bldgs., Inc. v. RGS Contractors, Inc., 188 S.W.3d 739 (Tex. App. 2006). “” 24 C.F.R. § 200.96 (2002). Appellee argues that because HUD approved appellant’s cost certification and did not assess any delay damages, appellant is not entitled to any such damages under the contract.”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.