55:17-6 - Modifying or supplementing mortgage loan;Ā written consent of holder
55:17-6.Ā Modifying or supplementing mortgage loan;Ā written consent of holder
So long as any mortgage loan remains unsatisfied in respect to any project,Ā no agreement shall be made between the governmental body or agency on any leaseĀ or financial agreement and the other party thereto, either to modify orĀ supplement any provision thereof, or to exercise any option or rightĀ thereunder, including any option to surrender a tax arrangement, without theĀ prior written consent of the holder of the mortgage loan.
L.1967, c. 304, s. 6, eff. Feb. 15, 1968.
So long as any mortgage loan remains unsatisfied in respect to any project,Ā no agreement shall be made between the governmental body or agency on any leaseĀ or financial agreement and the other party thereto, either to modify orĀ supplement any provision thereof, or to exercise any option or rightĀ thereunder, including any option to surrender a tax arrangement, without theĀ prior written consent of the holder of the mortgage loan.
L.1967, c. 304, s. 6, eff. Feb. 15, 1968.