Section 360.605  Recapture of Assistance

Within each set of Loan documents the Authority shall establish requirements regarding use, occupancy and rent levels as required by the Act and this Part. Such requirements shall provide that if the Recipient violates any of these requirements, such violation shall be deemed a default under the Loan documents.

(Source:  Amended at 15 Ill. Reg. 17088, effective November 19, 1991)