In addition to payments otherwise authorized, the department shall make an additional payment not in excess of $22,500 to
any displaced person who is displaced from a dwelling actually owned and occupied by the displaced person for not less than
180 days prior to the initiation of negotiations for the acquisition of the property. The additional payment shall include
the following elements:
A. The amount, if any, which when added to the acquisition cost of the dwelling acquired by the department equals the reasonable
cost of a comparable replacement dwelling. All determinations required to carry out this paragraph shall be made in accordance
with standards established by the department; [1989, c. 208, §§13, 21 (AMD).]
B. The amount, if any, which will compensate the displaced person for any increased interest costs and other debt service costs
which that person is required to pay for financing the acquisition of any such comparable replacement dwelling. The amount
shall be paid only if the dwelling acquired by the department was encumbered by a bona fide mortgage which was a valid lien
on the dwelling for not less than 180 days prior to the initiation of negotiations for the acquisition of that dwelling.
In calculating the amount to be paid under this section, increased interest costs and other debt service costs shall be reduced
to discounted present value. The payment shall be an amount which will reduce the mortgage balance on the replacement dwelling
to an amount which could be amortized with the same monthly payment for principal and interest as that for the mortgage on
the displaced dwelling; and [1989, c. 208, §§13, 21 (AMD).]
C. Reasonable expenses incurred by the displaced person for evidence of title, recording fees and other closing costs incident
to the purchase of the replacement dwelling, but not including prepaid expenses. [1989, c. 208, §§13, 21 (AMD).]
1989, c. 208, §§13, 21 (AMD)
The additional payment authorized by subsection 1 shall be made only to a displaced person who purchases and occupies a
replacement dwelling which is decent, safe and sanitary not later than the end of the one-year period beginning on the date
on which the displaced person receives from the department final payment of all costs of the acquired dwelling, or the date
on which the department meets its obligation under section 244-C, whichever is later, except that the department may extend
the period for good cause. If the period is extended, the payment under this section shall be based on the costs of relocating
the person to a comparable replacement dwelling within one year of the date otherwise designated in this subsection.
1989, c. 208, §§14, 21 (AMD)
The department is authorized to negotiate with any federal agency for any mortgage insurance protection available to a displaced
person to insure any mortgage on a comparable replacement dwelling executed by a displaced person assisted under this section.
1971, c. 593, §22 (AMD)
The additional payment authorized by subsection 1 may be made to the displaced person while determination of the acquisition
cost of the dwelling is either unsettled or is pending before the State Claims Commission or the Superior Court. Such a payment
is not authorized until and unless an agreement between the Department of Transportation and the displaced person is signed
which shall authorize withholding from any subsequent award by the State Claims Commission or judgment of the court any amount
determined from the agreement to be refunded by the displacee to the department by reason of the award or judgment being in
excess of the determined net damage and offering price paid pursuant to section 154. A copy of the agreement shall be filed
with the State Claims Commission with the petition or within 10 days after it is signed if the petition is already filed and
a copy shall be filed in any subsequent case appealed to the Superior Court with the complaint or answer, or both. The State
Claims Commission and court shall take judicial notice of the facts set forth in such agreement.
1987, c. 395, Pt. A, §103 (AMD)
1971, c. 333, §1 (NEW).
1971, c. 593, §22 (AMD).
1973, c. 22, §3 (AMD).
1981, c. 470, §§A134,A135 (AMD).
1987, c. 395, §A103 (AMD).
1989, c. 208, §§13,14,21 (AMD).
Data for this page extracted on 10/16/2012 08:28:32.
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