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I • • under State law, the owner -occupant is only eligible for the appropriate replacement housing payment for the site. (2) If the owner -elects to rent, the rental re- placement housing payment will be 48 times the monthly difference between the economic rent of the subject site and the lesser of: (a) The actual rent paid for the replace- ment site; or (b) The amount the Sponsor has deter- mined as necessary to rent a compa- rable mobile home site. e. Acquisition of Mobile Home Only. Upon acquisition of the mobile home from the owner - occupant who rents the site, the owner may be reim- bursed: (1) A replacement housing payment which will be the amount, if any, when added to the amount for which the Sponsor acquired the displaced person's mobile home equals the lesser of: (a) The amount the owner is required to pay for a replacement dwelling; or (b) The amount determined by the Spon- sor as necessary to purchase a compa- rable mobile home, plus 48 times the monthly difference in the amount de- termined by the Sponsor as necessary to rent a comparable mobile home site for a period of 4 years and the rent paid on the site acquired. (c) If the displaced person elects, he may be reimbursed on the basis of a down - payment for a mobile home site in lieu of the site rent supplement. (2) If the owner elects to rent a replacement mobile home, the rent supplement will be 48 times the monthly difference between the economic rent of the subject mobile home and site and the lesser of: (a) The actual rent paid for the replace- ment mobile home and site; or (b) The amount that the Sponsor has de- termined as necessary to rent a com- parable mobile home and site. 114. REPLACEMENT HOUSING PAY- MENTS FOR 180 DAY OWNER -OCCUPANTS OF CONVENTIONAL DWELLINGS WHO RELOCATE INTO MOBILE HOMES. a. Purchase of a Mobile Home and Site. An owner -occupant who has occupied a conventional dwelling for at least 180 consecutive days immedi- ately before the initiation of negotiations for the property or the issuance of a written notice of intent to acquire the property by a definite date, and is otherwise eligible under guides outlined in para- graph 92a is eligible for payments, the combined total of which may not exceed $15,000, for the ad- ditional costs necessary to purchase replacement housing, compensate for the loss of favorable finan- cing and reimbursement for expenses incident to the purchase of replacement housing. (1) The replacement housing payment will be the amount, if any, when added to the amount for which the Sponsor acquired the displaced person's dwelling, equals the lesser of: (a) The amount the Sponsor has deter- mined as necessary to purchase a comparable decent, safe, and sanitary dwelling; or (b) The amount the displaced person ac- tually paid for a decent, safe, and sanitary mobile home and site. (2) The interest differential payment and in- cidental payments should be determined by the same method as shown in paragraph 113a (2) and (3). b. Purchase of a Mobile Home and Rental of Site. An owner -occupant who has occupied a conventional dwelling for at least 180 days and is otherwise eligible under guides outlined in para- graph 92a is eligible for payments, the combined total of which may not exceed $15,000 for the addi- tional costs necessary to purchase replacement hous- ing, compensate for the loss of favorable financing and reimbursement for expenses incident to the purchase of replacement housing. (1) The replacement housing payment will be the amount, if any, when added to the amount for which the Sponsor acquired the displaced person's dwelling, equals the lesser of : (a) The amount the Sponsor 'has deter- mined as necessary to purchase a comparable decent, safe, and sanitary dwelling; or (b) The amount the displaced owner ac- tually paid for a decent, safe, and sanitary mobile home plus 48 times the monthly difference in the actual rental of the replacement site and the estimated economic rent of a mobile 67