1286

LAWS OF MARYLAND

[Ch. 257

MAY BE USED FOR NONRESIDENTIAL REHABILITATION.

(8)    THE PROGRAM SHALL BE ADMINISTERED TO THE
MAXIMUM EXTENT POSSIBLE IN CONJUNCTION WITH FEDERAL
PROGRAMS ASSISTING REHABILITATION OF HOUSING, SO AS TO
INSURE MAXIMUM UTILIZATION OF AVAILABLE FEDERAL FUNDS.

(9)    THE PROGRAM SHALL BE ADMINISTERED, TO
THE MAXIMUM EXTENT POSSIBLE, CONSISTENTLY WITH LOCALLY
APPROVED PLANS OF PROGRAMS OF CONCENTRATED NEIGHBORHOOD
REVITALIZATION.

(D)    IN ADDITION TO LOANS MADE FROM THE FUND, THE
DEPARTMENT MAY MAKE GRANTS FOR REHABILITATION TO FAMILIES
OF LIMITED INCOME, AND LOANS FOR REHABILITATION TO
FAMILIES OF LIMITED INCOME OR TO SPONSORS, WITH FUNDS
FROM ANY OTHER AUTHORIZED SOURCES. THESE SOURCES MAY
INCLUDE FEDERAL PROGRAMS OF ASSISTANCE FOR
REHABILITATION, WHICH THE DEPARTMENT SHALL UTILIZE TO THE
MAXIMUM EXTENT CONSISTENT WITH THE PURPOSES OF THIS
SECTION, AND IN WHICH THE DEPARTMENT IS AUTHORIZED TO DO
ALL THINGS NECESSARY TO QUALIFY FOR PARTICIPATION. THESE
SOURCES MAY ALSO INCLUDE THE ALLOCATION TO THE
DEPARTMENT, FOR LOW-COST HOUSING LOANS, OF PART OF THE
PROCEEDS OF PREMIUM SAVINGS BONDS ISSUED UNDER SECTION 24
OF ARTICLE 88D. THE TERMS AND CONDITIONS OF LOANS AND
GRANTS MADE PURSUANT TO THIS PARAGRAPH SHALL BE IN ACCORD
WITH THE PROVISIONS OF THE LEGISLATION OR OTHER AUTHORITY
BY WHICH THE FUNDS ARE MADE AVAILABLE TO THE DEPARTMENT.

(E)    THE DEPARTMENT MAY:

(1)    IN THE CASE OF LOANS SECURED BY FIRST OR
JUNIOR MORTGAGES, ENFORCE THEM ACCORDING TO THEIR TERMS,
FORECLOSE AND TAKE TITLE TO PROPERTIES FORECLOSED UPON,
OR ACCEPT CONVEYANCES IN LIEU OF FORECLOSURE; CONVEY
TITLE TO PURCHASERS; OBTAIN AND ENFORCE DEFICIENCY
JUDGMENTS; PERMIT ASSUMPTION OF MORTGAGES; AND CONTRACT
WITH PRIVATE MORTGAGE SERVICERS TO PERFORM FUNCTIONS
ORDINARILY PERFORMED BY SUCH SERVICERS, INCLUDING
FORECLOSURES AND THE EMPLOYMENT OF COUNSEL BY THE
SERVICERS, ON BEHALF OF THE DEPARTMENT. APPROVAL OR
EXECUTION BY THE BOARD OF PUBLIC WORKS IS NOT REQUIRED TO
ASSIGN MORTGAGES FOR VALUE, TO RELEASE MORTGAGES WHEN
PAID, OR TO ACCOMPLISH FORECLOSURES.

(2)    REQUIRE AND OBTAIN APPRAISALS, CREDIT
INFORMATION, AND OTHER INFORMATION RELATED TO MAKING
LOANS;

(3)    CONTRACT FOR SERVICES RELATING TO ANY
ASPECT OF THE OPERATION OF THE PROGRAM IN ACCORDANCE WITH
THE PROCEDURES REQUIRED BY LAW FOR STATE CONTRACTS;