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7. a. The agency is hereby authorized to contract with institutional lenders to guarantee on behalf of a housing developer the repayment of the full principal balance of that loan outstanding at the time of any default, if (1) the loan was made for construction costs as defined in section 3 of this act; (2) the amount of the loan and the terms on which it was made conform substantially to the amount and terms then available to the borrower on such a construction loan; and (3) the regulations of the agency pursuant to subsection c. of this section are complied with.
b. The agency shall establish within the fund sufficient reserves and liquid reserves, aside from those moneys required to meet payments of interest and repayments of principal on bonds issued pursuant to section 4 of this act, to provide a sufficient and actuarially sound basis for its pledges contained in any guarantee contract entered into pursuant to subsection a. of this section.
c. The agency shall adopt rules and regulations governing the issuance of loan guarantees pursuant to this section, including:
(1) procedures for the submission of requests for such guarantees;
(2) standards and requirements governing the allocation of guarantees to applicant institutional lenders, and determining the fees to be charged therefor and the manner of payment of those fees;
(3) restrictions as to the maturities and interest rates of any loan, or the return realized therefrom by the institutional lender, upon which a guarantee is to be issued;
(4) requirements as to commitments by institutional lenders with respect to loans upon which guarantees may be issued; and
(5) any other matters related to the duties and the exercise of the powers of the agency under this section.
L.1992,c.114,s.7.
BER DC 008895-06 04/13/2021 Pg 1 of 1 Trans ID: SCP2021670108 chy Cc J LOMBARDO CO_ t \ ‘ COURT OFNJ- supsrror counr oF NEW JERSEY (PLAINTIFF (S)) …
Apr 21, 2006
Defaulted
Bergen County, NJ
Apr 13, 2021
BER DC 013155-07 12/04/2020 Pg 1 of1 Trans ID: SCP 20202132374 ASSOC SURGEONS OF NORTHERN NJ SUPERIOR COURT OF NEW JERSEY (PLAINTIFF (S)) LAW DIVISION-SPECIAL CIVIL PART - vs - ROBERT ANDERSON ON (CONTRA…
ATL-L-002454-22 09/05/2022 6:23:20PM Pglofi12 Trans ID: LCV20223176208 WELTMAN, WEINBERG & REIS CO., L.P.A. A LEGAL PROFESSIONAL ASSOCIATION FORMED IN THE STATE OF OHIO BY: SCOTT J. BEST, ESQUIRE ATTORNEY FOR PLAINTIFF(S) NJ LD. NO. 03509-2004 170 S. INDEPENDENCE MALL W SUITE 874W PHILADELPHIA, PA 19106 …
OCN-L-000725-24 03/15/2024 5:30:43 PM Pglof8 Trans ID: LCV2024675955 HEITNER & BREITSTEINP.C. NEW JERSEY NEW YORK Cary R. STERNBACK 198 US 9 N, Ste 207 26 Court St., Ste 304 EUGENE M. BANTA Manalapan, NJ 07726 Brooklyn, NY 11242 YELENA C. TSYRLIN 732-780-5900 800-221-6567…
CUM-DC-001437-20 05/08/2020 8:02:51 AM Pg 1 of 20 Trans ID: SCP 2020938915 WELTMAN, WEINBERG & REIS CO., L.P.A. A LEGAL PROFESSIONAL ASSOCIATION FORMED IN THE STATE OF OHIO BY: SCOTT J. BEST, ESQUIRE ATTORNEY FOR PLAINTIFF(S) NJ LD. NO. 03509-2004 170 S. INDEPENDENCE MALL W SUITE 874W PHILADELPHI…
Cumberland County, NJ
May 08, 2020
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