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OPTION 5: RENEWAL OF PORTFOLIO REENGINEERING DEMONSTRATION OR PRESERVATION PROJECTS Portfolio Reengineering Demonstration Program: A. Mortgage Restructured/Rents Reduced. Properties that closed a
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Option 5 renewal is a process of renewing an existing option 5 agreement.
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The purpose of option 5 renewal is to ensure that the terms of the option 5 agreement are up to date and accurately reflect the current situation.
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