(a) In general.- In addition to all other rights that a contract may confer on an obligee of an authority, subject only to binding contractual restrictions, the obligee may:
(1) by a writ of mandamus or a proceeding at law or in equity, compel the authority and the authority's commissioners, officers, agents, or employees to perform each term, provision, and covenant contained in a contract of the authority with or for the benefit of the obligee;
(2) require the carrying out of any covenant or agreement of the authority and the fulfillment of all duties imposed on the authority by this Division II; and
(3) by a proceeding in equity, enjoin any unlawful act or thing or the violation of any right of the obligee.
(b) Rights on default - In general.-
(1) By resolution, trust indenture, mortgage, lease, or other contract, an authority may confer the right to take action under subsection (c) of this section if a default, as defined in the resolution or instrument, occurs.
(2) The right may be conferred on an obligee that:
(i) holds or represents a specified amount in bonds or notes; or
(ii) holds a mortgage, deed of trust, security instrument, or lease.
(c) Same - Enumerated.-
(1) An obligee that has the right under subsection (b) of this section to take action under this subsection may, by a proceeding in a court of competent jurisdiction:
(i) have possession of all or part of a housing project surrendered to any such obligee;
(ii) require the authority and its commissioners to account as if the authority and its commissioners were trustees of an express trust; and
(iii) have a receiver appointed for all or part of a housing project and its rents and profits.
(2) If a receiver is appointed, the receiver may:
(i) enter and take possession of the housing project or any part of the housing project;
(ii) operate and maintain it; and
(iii) collect and receive all fees, rents, revenues, or other charges thereafter arising from it.
(3) The receiver shall keep the money in a separate account or accounts and apply the money in accordance with the obligations of the authority as the court directs.
(a) In general.- In addition to all other rights that a contract may confer on an obligee of an authority, subject only to binding contractual restrictions, the obligee may:
(1) by a writ of mandamus or a proceeding at law or in equity, compel the authority and the authority's commissioners, officers, agents, or employees to perform each term, provision, and covenant contained in a contract of the authority with or for the benefit of the obligee;
(2) require the carrying out of any covenant or agreement of the authority and the fulfillment of all duties imposed on the authority by this Division II; and
(3) by a proceeding in equity, enjoin any unlawful act or thing or the violation of any right of the obligee.
(b) Rights on default - In general.-
(1) By resolution, trust indenture, mortgage, lease, or other contract, an authority may confer the right to take action under subsection (c) of this section if a default, as defined in the resolution or instrument, occurs.
(2) The right may be conferred on an obligee that:
(i) holds or represents a specified amount in bonds or notes; or
(ii) holds a mortgage, deed of trust, security instrument, or lease.
(c) Same - Enumerated.-
(1) An obligee that has the right under subsection (b) of this section to take action under this subsection may, by a proceeding in a court of competent jurisdiction:
(i) have possession of all or part of a housing project surrendered to any such obligee;
(ii) require the authority and its commissioners to account as if the authority and its commissioners were trustees of an express trust; and
(iii) have a receiver appointed for all or part of a housing project and its rents and profits.
(2) If a receiver is appointed, the receiver may:
(i) enter and take possession of the housing project or any part of the housing project;
(ii) operate and maintain it; and
(iii) collect and receive all fees, rents, revenues, or other charges thereafter arising from it.
(3) The receiver shall keep the money in a separate account or accounts and apply the money in accordance with the obligations of the authority as the court directs.
(a) In general.- In addition to all other rights that a contract may confer on an obligee of an authority, subject only to binding contractual restrictions, the obligee may:
(1) by a writ of mandamus or a proceeding at law or in equity, compel the authority and the authority's commissioners, officers, agents, or employees to perform each term, provision, and covenant contained in a contract of the authority with or for the benefit of the obligee;
(2) require the carrying out of any covenant or agreement of the authority and the fulfillment of all duties imposed on the authority by this Division II; and
(3) by a proceeding in equity, enjoin any unlawful act or thing or the violation of any right of the obligee.
(b) Rights on default - In general.-
(1) By resolution, trust indenture, mortgage, lease, or other contract, an authority may confer the right to take action under subsection (c) of this section if a default, as defined in the resolution or instrument, occurs.
(2) The right may be conferred on an obligee that:
(i) holds or represents a specified amount in bonds or notes; or
(ii) holds a mortgage, deed of trust, security instrument, or lease.
(c) Same - Enumerated.-
(1) An obligee that has the right under subsection (b) of this section to take action under this subsection may, by a proceeding in a court of competent jurisdiction:
(i) have possession of all or part of a housing project surrendered to any such obligee;
(ii) require the authority and its commissioners to account as if the authority and its commissioners were trustees of an express trust; and
(iii) have a receiver appointed for all or part of a housing project and its rents and profits.
(2) If a receiver is appointed, the receiver may:
(i) enter and take possession of the housing project or any part of the housing project;
(ii) operate and maintain it; and
(iii) collect and receive all fees, rents, revenues, or other charges thereafter arising from it.
(3) The receiver shall keep the money in a separate account or accounts and apply the money in accordance with the obligations of the authority as the court directs.
