PUBLIC LAW 102-550—OCT. 28, 1992 106 STAT. 3191

"shall be negotiable, and, if in book entry form, transferable,
in the manner described by the Secretary in regulations'*;

(3) by striking in the fourth sentence of subsection (i)
"and such guaranty" and inserting the following: "and, in the
case of debentures issued in certificated registered form, such
guaranty**; and

(4) by striking subsection (j) and inserting the following:
"(j) Debentures issued under this section—

"(1) shall be in such form and amounts;

"(2) shall be subject to such terms and conditions;

"(3) shall include such provisions for redemption, if any,
as may be prescribed by the Secretary of Housing and Urban
Development, with the approval of the Secretary of the
Treasury; and

"(4) may be in book entry or certificated registered form,
or such other form as the Secretary of Housing and Urban
Development may prescribe in regulations.".

(c) REHABILITATION AND NEIGHBORHOOD CONSERVATION HOUS-
ING INSURANCE.—Section 220(h) of the National Housing Act (12
U.S.C. 1715k) is amended—

(1) by striking in the first sentence of paragraph (7), "shall
be signed by the Secretary, by either his written or engraved
signature, shall be negotiable" and inserting the following:
"shall be negotiable, and, if in book entry form, transferable,
in the manner described by the Secretary in regulations";

(2) by striking in the fourth sentence of paragraph (hX7)
"and the guaranty" and inserting the following: "and, in the
case of debentures issued in certificated registered form, the
guaranty";

(3) by striking the sixth sentence of paragraph (7), and
inserting the following: "Debentures issued under this sub-
section shall be in such form and amounts; shall be subject
to such terms and conditions; and shall include such provisions
for redemption, if any, as may be prescribed by the Secretary
of Housing and Urban Development, with the approval of the
Secretary of the Treasury; and may be in book entry or certifi-
cated registered form, or such other form as the Secretary
of Housing and Urban Development may prescribe in regula-
tions."; and

(4) by striking the last sentence of paragraph (7).

(d) HOUSING FOR MODERATE INCOME AND DISPLACED FAMI-
LIES.—The second sentence of section 221(gX4XA) of the National

Housing Act (12 U.S.C. 17151(gX4XA)) is amended by striking 12USC1715*.
", subject to the cash adjustment provided herein, issue to the
mortgagee debentures having total face value" and inserting the
following: "issue to the mortgagee debentures having a par value".

SEC. 517. COVERAGE OF THE MULTIFAMILY MORTGAGE FORE-
CLOSURE ACT.

(a) PURPOSES.—Section 362 of the Multifamily Mortgage Fore-
closure Act of 1981 (12 U.S.C. 3701) is amended—

(1) in subsection (aXD, by striking "real estate" and all
that follows through "properties" and inserting: "multifamily
mortgages"; and

(2) in subsection (b), by striking "multiunit" and all that
follows through "1964" and inserting "multifamily mortgages".