[§201G-20] Subordination of mortgage to agreement with government. [Section effective until June 30, 2006. For section effective July 1, 2006, see below.] The corporation may agree in any mortgage made by it that the mortgage shall be subordinate to a contract for the supervision by a government 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 1997, c 350, pt of §2]

§201G-20 Subordination of mortgage to agreement with government. [Section effective July 1, 2006. For section effective until June 30, 2006, see above.] The administration may agree in any mortgage made by it that the mortgage shall be subordinate to a contract for the supervision by a government 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 administration pursuant to a foreclosure of the mortgage or any other remedy in connection therewith shall obtain title subject to the contract. [L 1997, c 350, pt of §2; am L 2005, c 196, §26(a)]