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2013 Hawaii Revised Statutes
TITLE 20. SOCIAL SERVICES
356D. Hawaii Public Housing Authority
356D-19 Subordination of mortgage to agreement with government.


HI Rev Stat § 356D-19 (2013) What's This?

§356D-19 Subordination of mortgage to agreement with government. The authority may agree in any mortgage made by it that the mortgage shall be subordinate to a contract for the supervision by a government 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 authority pursuant to a foreclosure of the mortgage or any other remedy in connection therewith shall obtain title subject to the contract. [L 2006, c 180, pt of §2]

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