(2) Structures which it is practicable to move should, when possible, be used in carrying out public war housing programs in other localities;

(3) Structures which it is practicable to move but which are not used as above should be sold, if possible, for use in meeting private priority quotas under the war housing program in other localities, except that residential structures of a temporary character may not be sold for such use;

(4) Any structures not used in any of the ways described above should, in the public interest, be transferred to another Federal agency or sold or leased to a public or quasi-public agency when needed for non-residential or institutional uses connected with the war or its orderly demobilization, except that residential structures of a temporary character may not be permanently transferred or sold for such use on their present sites. If such non-residential need is by the Federal Government on the present site, it may take precedence over (2) and (3) above when this will be in the public interest and best serve the war effort or its orderly demobilization;

(5) Any structures not used in any of the ways described above may be reserved by the FPHA for future non-residential or institutional use on the present site by any Federal agency which represents that the structures may be needed by it in connection with the war or its orderly demobilization;

(6) Any structures not used, or reserved for use, in any of the ways described above, may, for any appropriate non-residential or institutional use on the present project site, be transferred to another Federal agency or sold or leased to private individuals or corporations or to public or quasi-public agencies, whichever is in the best financial interest of the Government, except that residential structures of a temporary character may not be transferred permanently to another Federal agency or sold for such use (except for transfers to the Army or Navy pursuant to section 4 of the Lanham Act).

(7) Any structures or materials not used in any of the ways described above should be treated as follows:

(i) Any residential structures of a temporary character which it is not practicable to move should be demolished as promptly as possible and these and other materials re-used in whatever

manner will best promote the war effort and be in the public interest. Demolition for re-use of materials in the public war housing program may take precedence over non-residential uses under (5) and (6) when this will be in the public interest and best serve the war effort;

(ii) Any structures which it is practicable to move should be regarded as a reserve for possible future use elsewhere in the public war housing program, and may be kept standing on their present sites when this is the most feasible method of handling them pending their removal for use elsewhere;

(8) Any materials which cannot be advantageously re-used in the public war housing program shall be transferred to other Federal agencies or sold to others in a manner which will be to the best financial interest of the Government and in the best public interest, with preference being given to transfers or sales for use of the materials in connection with the war or its orderly demobilization.

(9) Any land which is no longer needed and is owned should be transferred to another Federal agency or sold in accordance with the policy stated in (10) below, and any leases or temporary uses of land should be terminated;

(10) All sales of properties referred to above should be undertaken as promptly as may be advantageous under the circumstances from the viewpoint of the public interest and the best financial interest of the Government. In the sale of such property, consideration should be given to its full market value.

704.3 Housing construction designated "defense housing" under § 222.8 (e) of Title 12.

704.4 Delegation of authority pursuant to the authority vested in the Administrator of the National Housing Agency by § 222.8 (e) of Title 12. 704.5 Effective date of the regulations in this part.

AUTHORITY: §§ 704.1 to 704.5, inclusive, issued under 40 Stat. 415, as amended, 55 Stat. 838; 50 U.S.C. App., Sup., 5, 601-605. E.O. 8843, 3 CFR Cum. Supp. § 228 (e) of Title 12.

SOURCE: §§ 704.1 to 704.5, inclusive, contained in NHA Regulation 60-4C, Administrator, effective Jan. 1, 1945, 9 F.R. 14887.

§ 704.1 General. (a) Part 222 of Title 12 (Regulation W) issued by the Board of Governors of the Federal Reserve System applies to a comprehensive list of durable and semi-durable goods for civilian consumption and extends to all types of consumer credit, whether in the form of installment sales and installment loans or in the form of charge accounts and single-payment loans. Section 222.8 (e) of Title 12 excepts from the credit restrictions imposed any extension of credit to remodel or rehabilitate any structure which the Administrator of the National Housing Agency, or his authorized agent, shall designate as being for "defense housing" as defined by the Administrator.

§ 704.2 Purposes of the regulations in this part. (a) The purposes of the regulations in this part are:

(1) To supersede NHA Regulation 604B (approved October 25, 1943, and effective November 15, 1943; 24 CFR, 1943 Supp., 704.1-704.5), as hereinafter provided;

(2) To prescribe and designate the types of housing construction which may be excepted from the provisions of Part 222 of Title 12 as "defense housing"; and

(3) To delegate authority to any creditor or lender (who is qualified as a "registrant" in accordance with the provisions of Part 222 of Title 12) to designate any project for the remodeling or rehabilitation of existing structures as "defense housing" in accordance with the provisions of the regulations in this part.

§ 704.3 Housing construction designated "defense housing" under § 222.8 (e) of Title 12. (a) Housing construction is hereby designated "defense housing" under § 222.8 (e) of Title 12 and is excepted from the credit restrictions imposed by Part 222 of Title 12 if:

(1) Authorization for the proposed construction has been received from the National Housing Agency and the approved copy of the priorities application Form WPB-2896 bears the statement "NHA Regulation No. 60-4C applies to this priority"; or

(2) The proposed construction is in a war housing area and will provide additional dwelling accommodations or will

help maintain the local housing supply by reconstruction, remodeling or conversion.

(b) Information concerning any war housing area and its boundaries may be obtained from the local office of the Federal Housing Administration. "War housing area", as used in this section, shall mean any area in which a private war housing quota has been established by the National Housing Agency, any area in which publicly-financed war housing has been programmed, any area in which the National Housing Agency has determined that the lack of housing is causing undue stress in living conditions, or any area or locality in which the President has found, pursuant to the National Housing Act, that an acute shortage of housing exists or impends which would impede national war activities.

704.4 Delegation of authority pursuant to the authority vested in the Administrator of the National Housing Agency by § 222.8 (e) of Title 12. (a) There is hereby delegated to any creditor or lender who is qualified as a "registrant" in accordance with the provisions of Part 222 of Title 12 authority to designate as "defense housing" any construction conforming to the foregoing requirements: Provided however, That in all cases an applicant shall execute and submit in a manner satisfactory to the "registrant" two copies of Form NHA 60-5 (January 1, 1945 or subsequent revisions).

(b) Prior to the designation of any construction as "defense housing" in accordance with section 3 hereof, the registrant shall ascertain that Form NHA 60-5 has been properly executed and that, on the basis of the information contained therein, the construction clearly may be so designated under that section.

(c) The initial creditor (the registrant who extends credit directly in the first instance) shall retain the two executed copies of Form NHA 60-5 covering a project which is designated by such initial creditor as "defense housing" in accordance with this regulation and shall file and retain one of such copies for a period of at least two years from the date of the advance of credit and such copy shall be available to the National Housing Agency, or any other governmental agency interested in said transaction. If the debt is transferred to a secondary creditor (and to subsequent creditors), the other executed copy of said Form

NHA 60-5 shall be furnished such secondary and subsequent creditors. The secondary and any subsequent creditor or creditors shall release his copy of Form NHA 60-5 to his transferees.

(d) In the absence of notice to the contrary, the secondary or any subsequent creditor is entitled to rely upon the determinations made by the initial creditor.

§ 704.5 Effective date of the regulations in this part. (a) The regulations in this part shall become effective January 1, 1945, Provided however, That Form NHA 60-5 (revision of August 8, 1944) properly completed and executed prior to the effective date of this regulation, may be processed in accordance with 24 CFR, 1943 Supp., 704.1-704.5.

PART 705-DELEGATIONS OF

AUTHORITY [ADDED]

CONTRACT SETTLEMENT AUTHORITY OF COMMISSIONER OF FEDERAL PUBLIC HOUSING AUTHORITY

Sec.

705.1 General policy. 705.2 Authorizing the Commissioner of the Federal Public Housing Authority to act for the National Housing Administrator under the "Contract Settlement Act of 1944."

AUTHORITY: §§ 705.1 and 705.2 issued under 55 Stat. 838; 50 U.S.C. App., Sup., 601-605. E.O. 9070, 9116; 3 CFR Cum. Supp.

SOURCE: §§ 705.1 and 705.2 contained in General Order 21-30, Sept. 8, 1944, 9 F.R. 11463.

§ 705.1 General policy. The purpose of the regulations in this part is to delegate to the Commissioner of the Federal Public Housing Authority all of the functions, powers and duties contained in the Contract Settlement Act of 1944, Public Law No. 395, 78th Congress, Second Session, or contained in applicable

orders and regulations issued thereunder by the Director of Contract Settlement.

§ 705.2 Authorizing the Commissioner of the Federal Public Housing Authority to act for the National Housing Administrator under the "Contract Settlement Act of 1944." (a) The Contract Settlement Act of 1944, Public Law No. 395, 78th Congress, Second Session, requires contracting agencies to modify and amend war contracts in the appropriate cases where such contracts do not provide for or provide against fair compensation for their termination. The act further authorizes contracting agencies to take appropriate action to accomplish the objectives of the act. A contracting agency is defined as any Government agency authorized to make contracts pursuant to section 201 of the First War Powers Act, 1941.

(b) Pursuant to authority vested in the Administrator of the National Housing Agency by said Contract Settlement Act of 1944, the Federal Public Housing Commissioner and any officer of the Federal Public Housing Authority who is designated to act as Federal Public Housing Commissioner are hereby designated to perform and exercise, with respect to contracts made or to be made by the Federal Public Housing Authority connected with or related to the prosecution of the war, all of the functions, powers and duties contained in said act or contained in applicable orders and regulations issued thereunder by the Director of Contract Settlement.

(c) The Federal Public Housing Commissioner and any officer of the Federal Public Housing Authority who is designated to act as Federal Public Housing Commissioner may delegate to persons under him any of such powers, functions and duties as he may deem necessary.