If all or any part of the single-family residence or an interest therein is sold or transferred by an eligible borrower under the Program to an individual who does not meet the credit underwriting and eligible borrower standards of the Program, or if the purchase price for which the single-family residence is sold or transferred exceeds that allowed in the program documents, the Corporation shall, if such transfer jeopardizes the tax-exempt status of the bonds, sell the Qualified Mortgage Loan or declare the entire unpaid principal balance of the note including principal and unpaid accrued interest immediately due and payable if such action is in the best interest of the Corporation and the Program.
Rulemaking Authority Florida Statutes § 420.507(12). Law Implemented 420.502, 420.507, 420.508 FS. History-New 4-15-87, Formerly 9I-25.013, Amended 12-16-03.