In the case of major capital additions, the mortgagor must submit the following materials to the local HUD office:
The general plans and sketches of the proposed capital additions;
A statement describing the estimated effect of the proposed capital additions on the value of the project, the project income and expenses (including property taxes), and the project rent schedule;
A statement describing how the proposed capital additions will be financed and the effect, if any, of that financing on the tenants;
A statement assessing the compatibility of the proposed capital additions with the residential character of the project; and
A copy of the notice to tenants.
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