Pub. L. 85-104, tit. I, sec. 114

Sec. 114. Section 223 (a) of the National Housing Act is amended— (1) by striking out “or 213” each place it appears (except in the second proviso in paragraph (7)) and inserting in lieu thereof “213, or 222”; (2) by inserting after “prescribed by” in paragraph (4) the following: “this Act or”; and (3) by striking out the second proviso in paragraph (7) and inserting in lieu thereof the following: “: Provided further, That a mortgage of the character described in paragraphs (1) through (6) of this subsection shall have a maturity, a principal obligation, and an interest rate not in excess of the maximums applicable to loans insured under section 203, 207, 213, or 222, as the case may be, except that in no case may the principal obligation of a mortgage referred to in paragraph (5) of this subsection exceed 90 per centum of the appraised value of the mortgaged property”.