5.7 PERMANENT LOAN FOLLOWING A CONSTRUCTION LOAN
When a policy has been issued on a construction loan mortgage, and within 6 months from completion of the building, the same mortgagor executes a new mortgage, the Charge shall be 50% of the reissue rate provided that the new policy is being issued by the same Insurer which issued the previous construction loan policy.
The provisions of this Section are not applicable to the Approved Attorney Procedure.
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