|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
596
|
|
Ch. 85
|
|
|
|
|
LAWS OF MARYLAND
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(16) (a) Administer a program of financial assistance
for energy conservation projects and solar energy projects.
Financial assistance shall be provided with funds and other
moneys made available to the Administration for such projects
from sources including, but not limited to: payments of financial
assistance made to the Administration pursuant to Title V of the
Energy Security Act (P.L. 96-294); bonds or notes issued by the
Administration pursuant to this subheading; or any bonds or notes
issued by the State of Maryland. The interest rate or rates and
other terms of loans [made] FINANCED from the proceeds of any
bonds or notes shall be at least sufficient to assure the payment
in full of the bonds or notes and the interest thereon as they
become due, except as otherwise provided in a trust agreement.
Subject to the provisions of any contract with noteholders or
bondholders, 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 loan, loan
commitment, contract or agreement of any kind to which the
Administration is a party. In connection with any property on
which the Administration [has made a mortgage] HOLDS A loan, the
Administration is authorized to foreclose on the 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 the property at any foreclosure or at any
other sale, or acquire and take possession of the property; and
in either event the Administration may complete, administer, pay
the principal of and interest on any obligations incurred in
connection with the property, dispose of, and otherwise deal with
the property, in a manner as may be necessary or desirable to
protect the interests of the Administration. Any lien held by
the Administration on property shall be a lien superior to all
other liens on the property except liens for taxes owed to the
State of Maryland or any subdivision thereof and earlier mortgage
liens. The Administration may sell any mortgage or other
obligation held by it, at public or private sale, with or without
public bidding, including the sale of such obligations and
commitments to the solar energy and energy conservation bank
pursuant to Title V of the Energy Security Act, P.L. 96-294.
266DD-8.
(a) The Administration may:
(1) Purchase or make a commitment to purchase, from
mortgage lenders, notes or mortgages or partial interests in
notes or mortgages that evidence residential mortgage loans [;]
TO FAMILIES OF LIMITED INCOMES OR MORTGAGE LOANS TO SPONSORS OF
COMMUNITY DEVELOPMENT PROJECTS;
(2) MAKE LOANS TO MORTGAGE LENDERS IN ACCORDANCE WITH
THIS SUBTITLE;
[(2)] (3) Fund, in whole or in part, a mortgage
purchase program and a loan to mortgage lenders program, with
proceeds of its revenue bonds or notes; and
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
