(1) It may rent or lease the dwelling accommodations in a housing project only to families who lack the amount of income deemed necessary by the Authority to enable them, without financial assistance, to secure decent, safe and sanitary dwellings, within the area of operation of the Authority, and to provide an adequate standard of living for themselves. The Authority shall charge rentals which it determines to be within the financial reach of such families.
(2) Nothing contained in section 61 of this title or in subsection (1) of this section shall limit the power of the Authority to vest in an obligee of the Authority the right, in the event of a default by the Authority, to take possession of a housing project or cause the appointment of a receiver thereof, free from all the restrictions imposed therein.
(3) Notwithstanding the foregoing provisions of this section, the Authority may agree to conditions as to tenant eligibility or preference required by the Federal Government pursuant to Federal law in any contract for financial assistance with the Authority.