Modifying or supplementing mortgage loan; written consent of holder

Checkout our iOS App for a better way to browser and research.

55:17-6. Modifying or supplementing mortgage loan; written consent of holder

So long as any mortgage loan remains unsatisfied in respect to any project, no agreement shall be made between the governmental body or agency on any lease or financial agreement and the other party thereto, either to modify or supplement any provision thereof, or to exercise any option or right thereunder, including any option to surrender a tax arrangement, without the prior written consent of the holder of the mortgage loan.

L.1967, c. 304, s. 6, eff. Feb. 15, 1968.


Download our app to see the most-to-date content.