mortgage amount and term

mortgage amount and term Sec. 402. (a) Section 1002(c) of the National Housing Act is amended by striking out “$10,000,000” and inserting in lieu thereof “$25,000,000”. (b) Section 1002(d) (1) of such Act is amended to read as follows: “(1) contain repayment provisions satisfactory to the Secretary and have a maturity not to exceed seven years, or such longer maturity as the Secretary deems reasonable (A) in the case of a privately owned system for water or sewerage, and (B) in the case of a new community approved under section 1004;”.