New Hampshire § 204-C:10 Bonds by Certain Mortgagors

New Hampshire Statutes

§ 204-C:10 — Bonds by Certain Mortgagors

New Hampshire § 204-C:10

Title XVIIHOUSING AND REDEVELOPMENT

Ch. 204-CHOUSING FINANCE AUTHORITY

This text of New Hampshire § 204-C:10 (Bonds by Certain Mortgagors) is published on Counsel Stack Legal Research, covering New Hampshire primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.H. Rev. Stat. Ann. § 204-C:10 (2026).

Text

On all construction loans for the construction or rehabilitation of 11 or more dwelling units, as defined by the authority pursuant to adopted rules, the authority shall require bonds to be furnished by the mortgagor, an equivalent escrow or letter of credit arrangement supervised by the authority, or any other surety sufficient to assure performance by the contractor party to the contracts awarded to carry on such work, and to assure payment out of the construction loan funds for all labor and materials for which claimants would be able to claim a mechanic's lien pursuant to RSA 447.

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On all construction loans for the construction or rehabilitation of 11 or more dwelling units, as defined by the authority pursuant to adopted rules, the authority shall require bonds to be furnished by the mortgagor, an equivalent escrow or letter of credit arrangement supervised by the authority, or any other surety sufficient to assure performance by the contractor party to the contracts awarded to carry on such work, and to assure payment out of the construction loan funds for all labor and materials for which claimants would be able to claim a mechanic's lien pursuant to RSA 447.