Section 13-20-609 - Subordination of mortgage to agreement with government

The authority may agree in any mortgage made by it that such mortgage shall be subordinate to a contract for the supervision by a government of the operation of improvements thereon; in such event, any purchaser or purchasers at a sale of the property of an authority pursuant to a foreclosure of such mortgage or any other remedy in connection therewith shall obtain title subject to such contract.Acts 1935 (Ex. Sess.), ch. 20, § 22; C. Supp. 1950, § 3647.21 (Williams, § 3647.22); T.C.A. (orig. ed.), § 13-1109.