(a) You qualify for replacement housing assistance under Category C if you meet one of the four sets of requirements in the following table. ----------------------------------------------------------------------------------------------------------------
You qualify for Category C assistance
if * * * And * * * And * * *----------------------------------------------------------------------------------------------------------------You own the dwelling in which you are The dwelling cannot be brought up ..................................
living. to applicable building code
standards and to standard housing
condition for $35,000 or less.You lease the dwelling in which you are Your leasehold is undivided and for The dwelling cannot be brought up
living. not less than 25 years at the time to applicable building code
that you receive assitance. standards and to standard housing
condition for $35,000 or less.You do not own a dwelling.............. You own land that is suitable for The land has adequate ingress and
housing. egress rights and economical
access to utilities.
You do not own a dwelling.............. You have a leasehold on land that The land has adequate ingress and
is suitable for housing and the egress rights and economical
leasehold is undivided and for not access to utilities.
less than 25 years at the time you
receive assistance.----------------------------------------------------------------------------------------------------------------
(b) If you qualify for assistance under paragraph (a) of this section, you must sign a written grant agreement stating that, if you sell the dwelling within 10 years of assuming ownership:
(1) The grant under this part will be voided; and
(2) At the time of settlement, you will repay BIA the full cost of the dwelling.
(c) If you sell the dwelling more than 10 years after you assume ownership, the following conditions apply:
(1) You may retain 10 percent of the original cost of the dwelling per year, beginning with the eleventh year.
(2) If you sell the dwelling after the first 20 years, you will not have to repay BIA. [63 FR 10134, Mar. 2, 1998, as amended at 67 FR 77921, Dec. 20, 2002]