Renegotiation of an equity loan.

The Commissioner shall renegotiate and modify the terms of an equity loan insured under this subpart at the request of the owner of the project for which a loan closing occurred if— (a) The loan closing occurred between September 28, 1992 and January 26, 1993; (b) The loan was made pursuant to a plan of action submitted under subpart C of part 248 of this chapter; and (c) The plan of action was accepted by the Commissioner for processing in December 1991. [58 FR 37814, July 13, 1993]