FHA Insurable Loan Sample Clauses

FHA Insurable Loan. 1) DHHL shall issue to each Beneficiary upon closing of the sale by Developer to the Beneficiary of each of the Project Houses a homestead lease (”Lease”) covering that portion of the Land upon which the house is situated and as set forth on the Project Map. Each such Lease shall be in a form sufficient to qualify for an FHA insured loan. 2) DHHL shall comply with HUD's Direct Endorsement Program Expanded to Cover Loans on Hawaiian Home Lands as stated in the HUD Circular Letter 93-06.