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Earlier editions: 2020-112018-112026-09

DIVISION 31. HOUSING AND HOME FINANCE 50000-54949›PART 3. CALIFORNIA HOUSING FINANCE AGENCY 50900-51532›CHAPTER 5. Financing of Housing Developments and Residential Structures 51100-51252›ARTICLE 4.5. Subordinated Mortgage Loans 51180-51182

§ 51182

California Health and Safety Code · 2026-10 edition · updated 2026-10-04 · California

The agency shall determine the manner in which subordinated loans are to be repaid. Potential methods of repayment may include, but not be limited to:

(a) An interest payment of 3 percent to be made from the positive cash flows of the project before payment to any other equity investor or mortgage loan holder is made.

(b) Repayment upon conversion or the term of the bond, whichever is less, to the state, including an interest payment of 3 percent.

(Added by Stats. 1982, Ch. 1448, Sec. 1.)

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