SECTION 330:30-8-7. Assumption and/or Transfer fee

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(a) OHFA may require, for each Development, the Bond Documents contain a "due on sale or change of Ownership or Control" clause in the Bond Documents.
(b) In connection with the Transfer or change of Ownership or Control of a Development the Owner/Borrower or the purchaser shall remit to OHFA a nonrefundable assumption/Transfer fee in an amount equal to one percent (1.00%) of the principal amount of OHFA MF Bonds outstanding as of the date of Transfer of Ownership or $3,000, whichever is greater.

[Source: Added at 10 Ok Reg 739, eff 1-4-93 (emergency); Added at 10 Ok Reg 2009, eff 5-27-93; Amended at 20 Ok Reg 2411, eff 7-11-03; Amended at 30 Ok Reg 1973, eff 7-31-13; Amended at 33 Ok Reg 1549, eff 10-1-16]

                    
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