term of federal housing administration mortgages for land development

term of federal housing administration mortgages for land development Sec. 310. Section 1002(d)(1) of the National Housing Act is amended— (1) by striking out “seven” and inserting in lieu thereof “ten”; and (2) by striking out the semicolon and inserting in lieu thereof the following: “: Provided, That the Secretary may agree to a reasonable extension of the term of a mortgage, the maturity of 82 Stat. 510which is limited by this paragraph to not more than ten years, if he determines that unusual or unforeseen circumstances make such extension necessary to avoid undue hardship to the mortgagor“.