[Code of Federal Regulations]
[Title 22, Volume 1]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 22CFR204.22]

[Page 817]
 
                       TITLE 22--FOREIGN RELATIONS
 
            CHAPTER II--AGENCY FOR INTERNATIONAL DEVELOPMENT
 
PART 204_HOUSING GUARANTY STANDARD TERMS AND CONDITIONS--Table of Contents
 
             Subpart C_Procedure for Obtaining Compensation
 
Sec. 204.22  Right of A.I.D. to cure default.

    Within sixty (60) days after the Date of Application for 
Compensation, A.I.D. may at any time make payments to the Lender or any 
Assignee equal to all installments of principal due and unpaid under any 
Note (other than installments whose maturity has been accelerated), 
together with interest on the unpaid principal amount of the Note to the 
date of such payment by A.I.D., and any Further Guaranteed payments due 
and unpaid, and thereby prevent or cure any default under the Note. Upon 
such a payment by A.I.D., if the Lender or Assignee shall have 
accelerated such Note, such acceleration shall be immediately rescinded 
or, if such Note shall not have been accelerated, such Note shall not 
thereafter be accelerated as a result of such Event of Default.