Section 205

Citation: Section 205 2.
Parent Document: Cole v. Harris, 187 U.S. App. D.C. 156 (1977)
Jurisdiction: United States (federal)
Effective Date: 1977-11-14
Original Source: https://www.courtlistener.com/opinion/7891523/cole-v-harris/ ↗

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2. The sponsor of the Sky Tower project, Anacostia No. One, Inc., experienced difficulty with the original general contractor and through the mortgagee for the project Walker and Dunlop, Inc., requested in March 1972 that HUD approve a substitution of contractors and an increase in the maximum amount of the mortgage from approximately $2.9 million to $3.2 million. An interim increase in the insured mortgage is an unusual action which increases HUD’s liability. In fact, it is my understanding that an interim increase had never been granted in this office prior to that time. However, because of HUD’s desire to have the project completed, the requests were approved by June 1972.

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