MORTGAGE LOAN CHARGES

Section 87.20 - General

MORTGAGE LOAN CHARGES

87.20 General. State Department of Health governmental supervising agency charges set forth in this Part shall be applicable to nursing homes constructed under the provisions of article 28-A of the Public Health Law and nonprofit hospitals modernized or constructed pursuant to the provisions of article 28-B of the Public Health Law.
 

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Section 87.21 - Charges for development period

87.21 Charges for development period. (Additional statutory authority: Public Health Law, õ 2868, 2881)

The governmental supervising agency charges for the development period from inception of the project to, but not including, the occupancy date, for mortgage closings on or after July 1, 1970, shall be nine-tenths of one percent of the mortgage loan, payable on requisition on or after the mortgage closing to the State Department of Health by the mortgagor. Adjustments of charges for the development period shall be made by adjusting future operational period payments.
 

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Section 87.22 RESERVED

Effective Date: 
Thursday, March 1, 2007