Nevada Revised Statutes 279A.070 – Duties of natural person or organization to whom loan is made; deferment of repayment of loan
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1. A natural person to whom a loan is made pursuant to this chapter shall:
Terms Used In Nevada Revised Statutes 279A.070
- Governing body: means the governing body of a county or city. See Nevada Revised Statutes 279A.020
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
(a) Maintain the property in a decent, safe and sanitary condition; and
(b) Reside, or have a member of his or her family reside, on the property.
2. An organization to which a loan is made pursuant to this chapter shall maintain the property in a decent, safe and sanitary condition.
3. If the natural person or organization to whom a loan is made is unable to repay in accordance with the established schedule, the governing body may defer, upon good cause shown, repayment of the amount of the loan until the sale of the rehabilitated property.