# 13 Va. Admin. Code § 10-140-70: 13VAC10-140-70. Construction

> Virginia · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_13_10_140_70

## Section

- **Citation:** 13 Va. Admin. Code § 10-140-70
- **Heading:** 13VAC10-140-70. Construction
- **Jurisdiction:** Virginia
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Virginia Administrative Code / Title 13 Housing / Agency 10 Virginia Housing Development Authority / Chapter 140 / 13VAC10-140-70

## Text

The construction of the development shall be performed in accordance with the initial closing documents. The authority shall have the right to inspect the development as often as deemed necessary or appropriate by the authority to determine the progress of the work and compliance with the initial closing documents and to ascertain the propriety and validity of any construction loan disbursements requested by the mortgagor. Such inspections shall be made for the sole and exclusive benefit and protection of the authority. If the authority is providing construction financing, a disbursement of construction loan proceeds may only be made upon a determination by the authority that the terms and conditions of the initial closing documents with respect to any such disbursement have been satisfied; provided, however, that in the event that such terms and conditions have not been satisfied, the executive director may, in his discretion, permit such disbursement if additional security or assurance satisfactory to him is given. The amount of any disbursement by the authority shall be determined in accordance with the terms of the initial closing documents and shall be subject to such retainage or holdback as is therein prescribed.

## Nearby sections

- [13 Va. Admin. Code § 10-140-10 13VAC10-140-10. Purpose and applicability](https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_13_10_140_10.md)
- [13 Va. Admin. Code § 10-140-20 13VAC10-140-20. Income limits and general restrictions](https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_13_10_140_20.md)
- [13 Va. Admin. Code § 10-140-30 13VAC10-140-30. Terms of acquisition and construction loan](https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_13_10_140_30.md)
- [13 Va. Admin. Code § 10-140-40 13VAC10-140-40. Application and acceptance for processing](https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_13_10_140_40.md)
- [13 Va. Admin. Code § 10-140-50 13VAC10-140-50. Feasibility and commitment](https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_13_10_140_50.md)
- [13 Va. Admin. Code § 10-140-60 13VAC10-140-60. Initial closing](https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_13_10_140_60.md)
- [13 Va. Admin. Code § 10-140-70 13VAC10-140-70. Construction](https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_13_10_140_70.md)
- [13 Va. Admin. Code § 10-140-80 13VAC10-140-80. Completion of construction and final closing](https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_13_10_140_80.md)
- [13 Va. Admin. Code § 10-140-90 13VAC10-140-90. Construction loan, permanent loan and purchase price increases](https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_13_10_140_90.md)
- [13 Va. Admin. Code § 10-140-100 13VAC10-140-100. Operation, management and marketing](https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_13_10_140_100.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_VA_ADC_13_10_140_70. Check the current official text before relying on it. Not legal advice.