(a) Filing. A second notice of intent must be filed by all owners who, after receiving the information provided by the Commissioner in §248.131, elect to transfer the project under §§248.157 or 248.161.

(b) Timeliness. A second notice of intent must be submitted not later than 30 days after receipt of the information provided by the Commissioner under §248.131. If an owner who is required to submit a second notice of intent fails to do so within this time period, the original notice of intent submitted under §248.105 shall be void and ineffective for purposes of subpart B of this part.

(c) Filing with the State or local government and tenants. The owner simultaneously shall file the second notice of intent with that officer of State and local government to whom the owner submitted a notice of intent under §248.105(c) and with the mortgagee. In addition, the owner shall deliver a copy of the second notice of intent to each tenant representative known to the owner, and if none is known, then to each occupied unit in the project.