Definitions

PURPOSE: This rule defines the terms used in this chapter. (1) As used in this chapter, all terms not otherwise defined herein shall have the meanings set forth in the state housing act and/or in 4 CSR 170-1.100. For purposes of this chapter, the following terms shall have the following meanings: (A) Approved mortgagor. Any individual or entity noted in section 215.010(1), RSMo (as the same may be amended from time-totime), and further meeting the qualifications set forth in 4 CSR 170-3; (B) HUD. The U.S. Department of Housing and Urban Development; (C) Mortgage(s). The mortgage loan made to an approved mortgagor by the Missouri Housing Development Commission (commission), as well as all other mortgage loans an approved mortgagor has received in relation to its development and which the commission has approved; (D) Partnership. Any general partnership, as well as any non-incorporated legal entity, formed under the laws of the state of Missouri; (E) Regulatory agreement or land use restriction agreement. Any agreement(s) which the commission shall require to be executed and recorded on a property for which the commission has provided a mortgage as a condition of providing such mortgage and which restricts the use and transfer of a property for which the mortgage is provided; and (F) Surplus cash. The equivalent of the amount calculated utilizing the formula set forth in 4 CSR 170-4.200(4). AUTHORITY: section 215.030(5), (12), and (19), RSMo 2000.* Original rule filed May 24, 2010, effective Jan. 30, 2011. *Original authority: 215.030, RSMo 1969, amended 1974, 1982, 1985, 1989, 1993, 1995, 1998.