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'with owners and per' 'm other functions otherwise housing agency by tk~ statute. 'igned to a public The contract for assistance payments shall be for a term of not less than one month or more than 180 months (15 years). The, selection of tenants shall be the function of the owner~ subject to the D,ro. visions of the annual contributions contract between the Secretary and the public housing agency. The public housing agency shall have the sole right to give notice to vacate, with the owner having the right to make representation to the agency for termination of tenancy. Maintenance and replacement (including redecoration) shall be in accordance with the standard practice for the buildh~g concerned, as established by the owner and agreed to by the public housing agency. The public housing agency and the owner shall carry out such other appropriate terms and conditions as may be mutually agreed to by them. The Secretary of HUD is authorized to make assistance payments contracts directly with owners of prospective owners who agree to construct or substantially rehabilitate housing in which some or all of the units shall be available for occupancy by "lower income families'~ q,r the Secretary re. ay,, also enter into annual contribution contracts wit.h public housing agencies pqrsuant .t° which such agen. cies may,. enter into contracts to make assistance... . . ~ pay,ments to such .owners or prospective owners. The contract for assistance payments shall not be for a term of less than one month or more than 240 months (20 years), except in the case of a project owned by, or financed by a loan or loan guarantee of a state or local agency, the term may not exceed 480 months (40 years). The prevailing wage requirements of the Davis-Bacon Act apply to all housing constructed or rehabilitated with nine or more units. All ownership, management, and maintenance responsibilities including the selection of tenants and the termination of tenancy, shall be assumed by the owner, except that the owner may contract for the performance of such responsibilities, with any entity, including a public housing agency, approved by the Secretary. Eligible sponsors (owners) shall include private builder-developers, cooperatives, and public agencies. The construction or substantial rehabilitation of dwelling units assisted shall be eligible for financing with mortgages insured under the National Housing Act. In addition ,to the sponsora..alread,y eligib, le. for , mortgage insurance, public housing agencies, for the purposes of this new program, are made eligible for mortgage insurance ~under Sec;!0n' 2,,2~i!d)(3) of thc National~ Housing Act, with the interest taxable under federal income tax. 00010