§ 29-4-221 — Limitations on remedies of obligee

Colorado § 29-4-221

• Jurisdiction: Colorado
• Title 29: Government
• Art.: Housing

Text

No interest of the authority in
any property, real or personal, shall be subject to sale by the foreclosure of a
mortgage thereon, either through judicial proceedings or the exercise of a power of
sale contained in such mortgage, except in the case of the mortgages provided for
in section 29-4-217. All property of the authority is exempt from levy and sale by
virtue of an execution, and no execution or other judicial process shall issue against
the same. No judgment against the authority shall be a charge or lien upon its
property, real or personal. The provisions of this section shall not apply to or limit
the rights of obligees to foreclose any mortgage of the authority provided for in
section 29-4-217, and, in case of a foreclosure sale thereunder, to obtain a
judgment or decree for any deficiency due on the indebtedness secured thereby
which was issued on the full faith and credit of the authority. Such deficiency
judgment or decree shall be a lien and charge upon the property of the authority
which may be levied on and sold by virtue of an execution or other judicial process
for the purpose of satisfying such deficiency judgment or decree.

Legislative History

Source: L. 35: p. 548, � 21. CSA: C. 82, � 49. CRS 53: � 69-3-21. C.R.S. 1963: � 69-3-21.