A.13.2 Agreement Authorizing Deferment of Principal Payments for Level Annuity Monthly Payment
Definition
HUD Multifamily Accelerated Processing (MAP) Guide, HUD Handbook 4430.G (2020 ed., rev. Mar. 19, 2021) · 2026 edition · updated 2026-10-05 · United States
50%/75% Rule No General Contractor’s fee (general overhead and profit) will be allowed when:
a. More than 50% of the contract sum in the form HUD-92442M, Construction Contract–Cost Plus, is subcontracted to one subcontractor, material supplier, or equipment lessor; or
b. 75% or more of the contract sum in form HUD-92442M is subcontracted with three or fewer subcontractors, material suppliers, and equipment lessors.
NOTE: If two or more subcontractors have any common ownership, they are considered as one subcontractor.
Absorption The average number of units rented each month during the absorption period, which is the time necessary for a newly constructed or renovated project to achieve stabilized occupancy.
Accessible Fair Housing Amendments Act: When used with respect to the public and common use areas of a building containing covered multifamily dwellings, means that then public or common use areas of the building can be approached, entered, and used by individuals with physical impairments (handicaps). The phrase readily accessible to, and usable by, is synonymous with accessible. A public or common use area that complies with the appropriate requirements of ICC/ANSI A117.1-2003, ICC/ANSI A117.11998, CABO/ANSI A117.1-1992, ANSI A117.1-1986 or a comparable standard is accessible within the meaning of this paragraph. [24 CFR 100.201]
Section 504: When used with respect to the design, construction, or alteration of a facility or a portion of a facility other than an individual dwelling unit, means that the facility or portion of the facility, when designed, constructed, or altered, can be approached, entered, and used by individuals with a physical impairment (handicaps). The phrase accessible to, and usable by, is synonymous with accessible. [24 CFR 8.3]
Accessible, when used with respect to the design, construction, or alteration of an individual dwelling unit, means that the unit is located on an accessible route and when designed, constructed, altered or adapted can be approached, entered, and used by individuals with a physical impairment (handicaps). A unit that is on an accessible route and is adaptable and otherwise in compliance with the standards set forth in 24 CFR 8.32 is accessible within the meaning of this paragraph. When a unit in an existing facility which is being made accessible as a result of alterations is intended for use by a specific qualified person with a disability (handicaps) (e.g., a current occupant of such unit or of another unit under the control of the same recipient, or an applicant on a waiting list), the unit will be deemed
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| Term | Definition |
|---|---|
| accessible if it meets the requirements of applicable standards that address | |
| the particular disability or impairment of such person. [24 CFR 8.3] | |
| Accessible routes | **Fair Housing Amendments Act:**A continuous unobstructed path |
| connecting accessible elements and spaces in a building or within a site that | |
| can be negotiated by a person with a severe disability using a wheelchair and | |
| that is also safe for and usable by people with other disabilities. Interior | |
| accessible routes may include corridors, floors, ramps, elevators, and lifts. | |
| Exterior accessible routes may include parking access aisles, curb ramps, | |
| walks, ramps, and lifts. A route that complies with the appropriate | |
| requirements of *ICC/ |
|
| CABO/ |
|
| an accessible route. [24 CFR 100.201] | |
| **Section 504:**A continuous unobstructed path connecting accessible | |
| elements and spaces in a building or facility that complies with the space and | |
| reach requirements of applicable standards prescribed by 24 CFR 8.32. An | |
| accessible route that serves only accessible units occupied by persons with | |
| hearing or vision impairments need not comply with those requirements | |
| intended to effect accessibility for persons with mobility impairments. [24 | |
| CFR 8.3] | |
| Accessible units - | A mobility accessible unit is one that is located on an accessible route, and |
| mobility | can be approached, entered, and used by individuals with physical |
| disabilities, including those who use wheelchairs consistent with the | |
| detailed specifications for accessible units defined in the Uniform Federal | |
| Accessibility Standard (UFAS). | |
| Accessible units - | A sensory accessible unit is one that is equipped with warning, signaling, |
| sensory | way-finding and related features necessary for persons with sensory - i.e., |
| hearing or visual disabilities, consistent with the detailed specification for | |
| accessible units defined in the Uniform Federal Accessibility Standard | |
| (UFAS). | |
| Adaptive design | Dwellings [that] contain the following features of adaptive design: |
| a. An accessible route into and through the dwelling; |
b. light switches, electrical outlets, thermostats, and other environmental controls in accessible locations;
- c. reinforcements in bathroom walls to allow later installation of grab bars; and
| a. An accessible route into and through the dwelling; b. light switches, electrical outlets, thermostats, and other environmental controls in accessible locations; c. reinforcements in bathroom walls to allow later installation of grab bar and |
|
|---|---|
| d. usable kitchens and bathrooms such that an individual in a wheelchair | |
| can maneuver about the space. | |
| Administrative | The Regional Center Director may advance the completion date to prevent |
| completion date | unnecessary accumulation of soft costs when projects that are nearly |
| complete face unnecessary delay. |
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| Term | Definition |
|---|---|
| The administrative completion date is the effective date for cost certification | |
| except that all soft costs up to 60 days beyond this date may be included at | |
| the option of the Borrower. | |
| Age Restricted | A property with an established policy and practice of restricting occupancy |
| Property | to persons of a certain age and sometimes also family status, i.e., not renting |
| to families with children or persons under the age of 55. Only certain age | |
| and family status restrictions are permitted in properties with HUD insured | |
| mortgages See Chapter 3, Section 3.11. | |
| Aggregate cost | Aggregate Cost means the total costs of all the proposed construction work |
| at the property, including General Contractor fees and Project Architect fees. | |
| The Aggregate Cost will also include the amounts spent from the contingency | |
| reserve and assurance of completion escrows at the end of construction, as | |
| well as any cost increases through change orders. | |
| AIA Standard Form of | American Institute of Architects (AIA) form B108 for new construction and |
| Agreement | substantial rehabilitation, or AIA B104 for repairs and alterations in |
| refinance transactions, though in a refinance loan the B108 may be used | |
| when repairs and alterations are extensive. | |
| Air Rights (Survey) | The right to undisturbed use and control of designated air space above a |
| specific land area within stated elevations. | |
| ALTA/ |
The American Land Title Association and the National Society of Professional |
| Survey | Surveyors maintain minimum standards for land surveys acceptable for |
| commercial real estate transactions. These standards are integrated with | |
| standard title policy insurance forms and are required for use in conjunction | |
| with HUD Form 93071M Surveyors Report and Certification. The | |
| ALTA/ |
|
| calendar with the most recent revision going into effect on February 23, | |
| 2021. | |
| Americans with | Means the Americans with Disabilities Act of 1990 (42 U.S.C. 12101 et seq.) |
| Disabilities Act (ADA) | which applies accessibility standards to all places of public accommodation, |
| including those privately owned (Title III) and requires all state and local | |
| government entities to apply accessibility standards to their programs and | |
| properties, including housing programs. For applicability to insured | |
| mortgage programs seeAppendix 5, Section A.5.2.5. | |
| Annual Deposit | The sum estimated as the annual contribution to the |
| reserve for replacement escrow. | |
| Area of potential | Typically the site boundary of a project but occasionally the block on which |
| effect | the site is located or the immediate site environs. |
| As-Built Drawings | Also known as record drawings and red-line drawings, as-builts drawings |
| are revised or annotated plans showing changes to the initially approved | |
| drawings and specifications in place at the beginning of construction. As- | |
| builts are a “revised set of drawings submitted by a contractor upon | |
| completion of a project or a particular job. They reflect all changes made in |
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