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Code · New Jersey · Title 55 — Fiduciaries and Trusts · Chapter 17

55:17-6. Modifying or supplementing mortgage loan; written consent of holder

80 words·~1 min read·/nj/title-55/chapter-17/55-17-6

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

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