Revision Note
Part I designation added by revisor pursuant to §23G-15.
[§201H-20] Subordination of mortgage to agreement with government. The corporation may agree in any mortgage made by it that the mortgage shall be subordinate to a contract for the supervision by a governmental agency of the operation and maintenance of the mortgaged property and the construction of improvements thereon. In that event, any purchaser or purchasers at a sale of the property of the corporation pursuant to a foreclosure of the mortgage or any other remedy in connection therewith shall obtain title subject to the contract. [L 2005, c 196, pt of §20; am L 2006, c 180, §15]
Section: Previous 201h-13 201h-14 201h-15 201h-16 201h-17 201h-18 201h-19 201h-20 201h-21 201h-22 201h-23 201h-31 201h-32 201h-33 201h-34 NextLast modified: October 27, 2016