Voglio sapere a riguardo di…

3496

FEDERAL REGISTER, Tuesday, August 1, 1939

of an indenture of trust providing for the issue and sale of such bonds or other obligations and appointing a trustee to act on behalf of the holders of such bonds or other obligations may be trans ferred as provided in the indenture of trust.
An insured mortgage other than a mortgage executed in the form of an indenture of trust providing for the issue and sale of bonds or other obligations and appointing a trustee to act on behalf of the holders of such bonds or other obligations may be transferred but, ex cept with the written approval of the A d m in istr a to r , only subsequent to full disbursement of the mortgage loan to a transferee who may be a mortgagee previously approved by the Adminis trator or who may be approved at the time of such transfer as a mortgagee responsible and able to service such in sured mortgage. Upon such approval and transfer and the assumption by the transferee of all obligations under the contract of insurance, the transferor shall be released from its obligations under the contract of insurance.! Art.
VI, pars. 1-21
53314 Termination of mortgage in surance "by assignment. The contract of insurance shall terminate with respect to mortgages described in Section 533.13
upon the happening of either of the fol lowing events:
a The acquisition of the insured mortgage by or the pledge thereof to any person, firm, or corporation, public or private, except as specifically provided in such Section 533.13.
b The disposal by a mortgagee of any partial interest in the insured mort gage by means of a declaration of trust or by a participation or trust certificate or by any other device, unless with the prior written approval of the Administra tor: Provided, That this paragraph b shall not be applicable to any mortgage so long as it is held in a common trust fund maintained by a bank or trust com pany 1 exclusively for the collective in vestment and reinvestment of moneys contributed thereto by the bank or trust company in its capacity as a trustee, ex ecutor or administrator; and 2 in con formity with the rules and regulations prevailing from time to time of the Board of Governors of the Federal Reserve Sys tem, pertaining to the collective invest ment of trust funds.! Art. VI, par. 31
Eights in Housing Fund 533.15 No vested right. Neither the mortgagee nor the mortgagor shall have any vested or other right in the Housing Insurance Fund.! Art. VII
Amendments 533.16 Amendments to regulations.
These Regulations may be amended by the Administrator at any time and from time to time, in whole or in part, but such amendments shall not affect the contract of insurance on any mortgage already insured or any mortgage or pros
pective mortgage on which the Admin istrator has made a commitment to in sure.! Art. V m
Effective Date 533.17 Effective date. These Regu lations shall be effective as to all mort gages with respect to which a commit ment to insure is issued on or after the date hereof. H ie Administrator with the consent of the mortgagor and the mortgagee may, subject to such condi tions as he may impose, amend to con form to these Regulations any contract of insurance or any commitment to in sure, issued prior to February 3, 1938.
Any mortgagee entitled to receive deben tures upon default of a mortgage insured prior to February 3, 1938, may elect to receive, in lieu of such debentures, a cash adjustment and debentures issued as pro vided in Section 533.7 and bearing inter est a t the rate current a t the time of such election.! Art. IX
Issued a t Washington, D. C., June 30, 1939.
S tewart M cD onald ,
Federal Housing Administrator.
AMENDMENT TO ADMINISTRATIVE REGULA
TIONS OF THE FEDERAL HOUSING ADMIN
ISTRATOR FOR MULTIFAMILY AND GROUP
HOUSING INSURANCE UNDER SECTION 210
OF TITLE H OF THE NATIONAL HOUSING
ACT

Section 210 of the National Housing Act was repealed effective June 3, 1939.
However, applications for mortgage in surance under such section received by the Administrator prior to June 3 may be committed upon if conforming with Section 210, Rules and Regulations of the Administrator, revised February 15, 1938, as set out in Federal Housing Ad ministration Form No. 2012, amended as follows: The first sentence of Section 535.9 a of said Administrative Regula tions is amended to read as follows:
a Debentures of the Housing In
surance Fund as set forth in Section 204
of the Act, in a principal amount equal to the principal of the mortgage which has been advanced with the written ap proval of the Administrator and which is unpaid on the date of the institution of foreclosure proceedings, or on the date of the acquisition of the property otherwise after default, plus the amount of all payments which have been made by the mortgagee for taxes, ground rents, and water rates, which are liens prior to the mortgage, special assess ments which are noted on the applica tion for insurance or which become liens after the insurance of the mortgage, in surance on the mortgaged property, and any mortgage insurance premiums paid after either of such dates, less any amount received on account of the mort gage, and any amount received as rent or other income from the property after deducting therefrom reasonable expenses incurred in handling the property, sub sequent to either of such dates: Pro
vided, That such debentures shall be is sued in multiples of $50 and any dif ference, not to exceed $50, between the amount of debentures to which the mortgagee is otherwise entitled here under and the aggregate face value of the debentures issued shall be paid in cash. Art. V, par. 31
Issued at Washington, D. C., June 30
1939.
_ S tewart M cD onald, F.

Federal Housing Administrator.
R. Doc. 392806; Filed, July 29, 193912:22 p. m.j

TITLE 41PUBLIC CONTRACTS
DIVISION OF PUBLIC CONTRACTS
In
t h e M atter of t h e D etermination of t h e P revailing M in im u m W age in the P hotographic S u p p l ie s I ndustry
This m atter is before me pursuant to Section 1 b of the Act of June 30,1936
49 Stat. 2036; 41 UJS.C. Sup. HI 35, entitled An Act to provide conditions for the purchase of supplies and the mak ing of contracts by the United States, and for other purposes, hereinafter called the Act. The Public Contracts Board, created in accordance with Sec tion 4 of said Act by Administrative Order dated October 6, 1936, held a hearing on November 29, 1938 in the above entitled m atter .1
Notice of this hearing was sent to all known members of the industry, trade associations, the trade publications, and the trade unions. Invitation to attend the hearing was extended through the national press to all other interested parties.
Appearances were entered and testi mony given by representatives of industry and labor.
A survey of the wages paid in the in dustry was made by a committee of the industry. The wage data obtained by this survey were tabulated by the Re search Section, Division of Public Con tracts, Department of Labor. This sur vey and the tabulation did not include the wages of employees engaged in the manufacture of 35 millimeter cameras, 35 millimeter projectors, and accessories therefor.
On the basis of the record, the Board made its findings in the matter of the prevailing minimum wage for the photo graphic supplies industry as hereinafter defined a.nrf recommended th at I find the prevailing m in im u m wage in this indus try to be 40 cents an hour or $16.00 per week of forty hours. On May 31, 1939, the Administrator, Division of Public Contracts, circularized the Boards find ings and recommendations in order that all parties might have full opportunity to register their objections or approval be fore the decision in the matter was made by the Secretary of Labor.
3 F JR. 2693 DI.