The authority may agree in any mortgage made by it that such mortgage shall be subordinate to a contract for the supervision by a government of the operation of improvements thereon; in such event, any purchaser or purchasers at a sale of the property of an authority pursuant to a foreclosure of such mortgage or any other remedy in connection therewith shall obtain title subject to such contract.
Structure 2021 Tennessee Code
Title 13 - Public Planning and Housing
Chapter 20 - Housing Authorities Law
Part 6 - Bonds and Finances of Housing Authorities
§ 13-20-603. Trust Indentures and Mortgages — Power of Authority to Issue or Incur Obligation
§ 13-20-604. Power to Mortgage When Project Financed With Aid of Government
§ 13-20-605. Remedies of an Obligee of Authority
§ 13-20-606. Remedies Conferrable Upon Authority by Mortgage or Trust Indenture
§ 13-20-607. Remedies and Rights Cumulative
§ 13-20-609. Subordination of Mortgage to Agreement With Government
§ 13-20-610. Contracts With Federal Government
§ 13-20-611. Agreement to Sell as Security for Obligations to Federal Government
§ 13-20-613. Investment by Municipality in Bonds of Authority