DSHA 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 and maintenance of the mortgaged property and the construction of improvements thereon. In such event, any purchase or purchasers at a sale of the property of DSHA pursuant to a foreclosure of such mortgage or any other remedy in connection therewith shall obtain title subject to such contract.
Structure Delaware Code
Chapter 40. THE DELAWARE STATE HOUSING AUTHORITY
Subchapter II. Delaware State Housing Authority
§ 4011. DSHA to contract for labor or materials.
§ 4015. Audit of books and accounts.
§ 4017. Forms and terms of bonds; disposition of proceeds.
§ 4018. Bonds as legal investments for institutions and fiduciaries and as legal deposit.
§ 4019. Credit of State not pledged.
§ 4021. Provisions of bonds and mortgages.
§ 4023. Remedies of bondholders and trustees.
§ 4024. Moneys as trust funds.
§ 4025. Subordination of mortgage to agreement with government.
§ 4028. Notification of application for Low Income Housing Tax Credit Program.
§ 4029. Korey Thompson Student Emergency Housing Assistance Fund.