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Maryland Manual, 1969-70
Volume 174, Page 720   View pdf image (33K)
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720 MARYLAND MANUAL
(g) To provide advisory, consultative, training and edu-
cational services, technical assistance, and grant and loan
funds therefor and for any development cost to any munici-
pality, county, local public agency or local development cor-
poration in order to carry out the residential development
purposes of this Act.
(h) To carry out continuing studies and analyses of
housing and urban problems within the State. In carrying
out these studies, the Authority shall report periodically to
the Governor and to the General Assembly on the nature
of existing housing and urban problems and submit such
recommendations for legislative action as may appear desir-
able and necessary.
(i) To establish priorities of housing needs and designate
areas of the State where assistance is most needed. In the
development of priorities, highest ranking shall be given to
those developments which will most aid those persons of
low and moderate income who are to be, or have been,
forced to relocate by reason of public developments, the
construction of highways, or the action of a public agency.
(j) To make mortgage loans for any development, secured
by a mortgage lien, including temporary loans or advances,
to any municipality, local public agency or local develop-
ment corporation and to undertake commitments therefor.
Any such commitment, mortgage or bonds or notes secured
thereby shall contain such terms and conditions not incon-
sistent with the provisions of this Act as the Authority may
deem necessary or desirable to secure repayment of its loan,
the interest, if any, thereon and other charges in connection
therewith. Subject to the provisions of any contract with
noteholders or bondholders, to consent to the modification,
with respect to rate of interest, time of payments of any
installment of principal or interest, security, or any other
term, of any mortgage, mortgage loan, mortgage loan com-
mitment, contract or agreement of any kind to which the
Authority is a party. In connection with any property on
which it has made a mortgage loan, to foreclose on any
such property or commence any action to protect or enforce
any right conferred upon it by any law, mortgage contract
or other agreement, and to bid for and purchase such prop-
erty at any foreclosure or at any other sale, or acquire or
take possession of any such property; and in. such event the
Authority may complete, administer, pay the principal of
and interest on any obligations incurred in connection with
such property, dispose of, and otherwise deal with such
property, in such manner as may be necessary or desirable

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Maryland Manual, 1969-70
Volume 174, Page 720   View pdf image (33K)
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