The authority may agree in any mortgage made by it that the mortgage is subordinate to a contract for the supervision by a government of the operation and maintenance of the mortgaged property and the construction of improvements on it. In that event, any purchaser or purchasers at a sale of the property of an authority, pursuant to a foreclosure of the mortgage or any other remedy in connection with it, obtains title subject to the contract.
History of Section.
P.L. 1935, ch. 2255, § 21; G.L. 1938, ch. 344, § 21; G.L. 1956, § 45-27-15.