§206E-123  Loans; default.  Theauthority may renegotiate, refinance, or foreclose any loan in default.

The authority may waive any default or consentto the modification of the terms of any loan or security agreement.

The authority may commence any action toprotect or enforce any right conferred upon it by any law, mortgage, insurancepolicy, contract, or other agreement.

The authority may bid for and purchase theproperty secured by the loan at any foreclosure or other sale, or acquire ortake possession of the property secured by the loan.

The authority may operate, manage, lease,dispose of, or otherwise deal with the property secured by the loan. [L 1982, c228, pt of §8]