24 C.F.R. § 880.506
Default by owner (private-owner/HUD and PHA-owner/HUD projects)
The Contract will provide:
(a) That if HUD determines that the owner is in default under the Contract, HUD will notify the owner and the lender of the actions required to be taken to cure the default and of the remedies to be applied by HUD including specific performance under the Contract, reduction or suspension of housing assistance payments and recovery of overpayments, where appropriate; and
(b) That if the owner fails to cure the default, HUD has the right to terminate the Contract or to take other corrective action.
Notes of Decisions
Cited in 1
case, 2013–2013 · leading case: Cms Contract Mgmt. Servs. v. United States, 110 Fed. Cl. 537 (Fed. Cl. 2013).
Cms Contract Mgmt. Servs. v. United States, 110 Fed. Cl. 537 (Fed. Cl. 2013). “For example, under the PBACCs, HUD retains the responsibility to determine when project owners are in default, 24 C.F.R. § 880.506 (a); AR 20201, and is the only party capable of terminating a HAP contract, 24 C.”
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.