Page:United States Statutes at Large Volume 101 Part 2.djvu/333

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PUBLIC LAW 100-000—MMMM. DD, 1987

PUBLIC LAW 100-198—DEC. 21, 1987

101 STAT. 1319

(2) in clause (iv), by striking out "and"; (3) in clause (v), by striking out the period at the end and inserting in lieu thereof a semicolon; and (4) by adding at the end the following new clause: "(vi) the veteran must own the manufactured home, or the manufactured-home lot, or the manufactured home and the manufactured-home lot, securing the loan and— "(I) must occupy the home, a manufactured home on the lot, or the home and the lot, securing the loan; "(II) must have previously occupied the home, a manufactured home on the lot, or the home and the lot, securing the loan as the veteran's home and must certify, in such form as the Administrator shall require, that the veteran has previously so occupied the home (or such a home on the lot); or "(III) in any case in which a veteran is in active duty status as a member of the Armed Forces and is unable to occupy the home, a manufactured home on the lot, or the home and the lot, as a home because of such status, the spouse of the veteran must occupy, or must have previously occupied, the manufactured home on the lot, or the home and the lot, as such spouse's home and must certify such occupancy in such form as the Administrator shall require.". (c) AMOUNTS OF OTHER REFINANCING LOANS.—Section 1810

is

amended by adding at the end the following new subsection: "(h) The amount of a loan guaranteed for the purpose specified in subsection (a)(5) of this section may not exceed the amount equal to 90 percent of the appraised value of the dwelling or farm residence which will secure the loan, as determined by the Administrator.". (d) EFFECTIVE DATE.—(1) 'The amendments made by subsections (a) 38 USC 1810 and (b) of this section shall apply to loans made more than 30 days note. after the date of the enactment of this Act. (2) The amendment made by subsection (c) of this section shall apply to loans for which commitments are made more than 60 days after the date of the enactment of this Act. SEC. 8. OCCUPANCY REQUIREMENTS.

(a) ORIGINAL LOANS.—(1) Section 1804(c) is amended— (A) by striking out "(c) No" and inserting in lieu thereof "(c)(D Except as provided in paragraph (2) of this subsection, no"; (B) by striking out "No loan" in the second sentence and inserting in lieu thereof "Except as provided in paragraph (2) of this subsection, no loan"; and (C) by adding at the end the following new paragraph: "(2) In any case in which a veteran is in active duty status as a member of the Armed Forces and is unable to occupy a property because of such status, the occupancy requirements of— "(A) paragraph (1) of this subsection; "(B) paragraphs (1) through (5) and paragraph (7) of section 1810(a) of this title; "(C) section 1819(a)(5)(A)(i) of this title; and "(D) section 1819(e)(5) of this title; shall be considered to be satisfied if the spouse of the veteran occupies the property as the spouse's home and the spouse makes the certification required by paragraph (1) of this subsection.".

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