§206-32  Subordination of mortgage to
agreement with government.  The board of land and natural resources may
agree in any mortgage made by it that the 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
that event, any purchaser or purchasers at a sale of the property of the board
pursuant to a foreclosure of the mortgage or any other remedy in connection
therewith, shall obtain title to the contract. [L 1961, c 6, §30; Supp,
§98J-30; HRS §206-32]