Common Contracts
2 similar null contracts
Page 631 TITLE 12—BANKS AND BANKING § 1715yOctober 16th, 2019
ance contract), or may acquire the mortgage loan and the security therefor upon payment to the mortgagee in cash or in debentures (as pro- vided in the mortgage insurance contract) of a total amount equal to the unpaid principal bal- ance of the loan plus any accrued interest and any advances approved by the Secretary made previously by the mortgagee under the provi- sions of the mortgage. After the acquisition of the mortgage by the Secretary the mortgagee shall have no further rights, liabilities, or obli- gations with respect to the mortgage. The ap- propriate provisions of sections 1710 and 1713 of this title relating to the issuance of debentures shall apply with respect to debentures issued under this subsection, and the appropriate pro- visions of sections 1710 and 1713 of this title re- lating to the rights, liabilities, and obligations of a mortgagee shall apply with respect to the Secretary when he has acquired an insured mortgage under this subsection, in accordance with and
§ 1715yAugust 9th, 2018
ance contract), or may acquire the mortgage loan and the security therefor upon payment to the mortgagee in cash or in debentures (as pro- vided in the mortgage insurance contract) of a total amount equal to the unpaid principal bal- ance of the loan plus any accrued interest and any advances approved by the Secretary made previously by the mortgagee under the provi- sions of the mortgage. After the acquisition of the mortgage by the Secretary the mortgagee shall have no further rights, liabilities, or obli- gations with respect to the mortgage. The ap- propriate provisions of sections 1710 and 1713 of this title relating to the issuance of debentures shall apply with respect to debentures issued under this subsection, and the appropriate pro- visions of sections 1710 and 1713 of this title re- lating to the rights, liabilities, and obligations of a mortgagee shall apply with respect to the Secretary when he has acquired an insured mortgage under this subsection, in accordance with and
