# COMAR Title 05 — Department of Housing and Community Development

## Subtitle 06 — Housing Insurance

### Chapter 02 — Tax Credit Bridge Loan Insurance

#### Regulation .08 Superior Mortgagee's Agreement.

*COMAR 05.06.02.08*

The holder of any superior mortgage on the project shall agree that:

A. The Fund shall have an opportunity to cure any monetary defaults under the superior mortgage;

B. Any defaults that the Fund is unable to cure shall be suspended for a reasonable period, if the Fund elects to keep current any payments due under the superior mortgage; and

C. The superior mortgagee shall notify the Fund of any events of default under the superior mortgage.