Guam § 5121 - Provisions Permitted in Contracts With Federal
Full text of Guam Guam Code Annotated § 5121 — Provisions Permitted in Contracts With Federal, with citation guidance and answers to common questions.
§ 5121. Provisions Permitted in Contracts With Federal
Government.
In any contract with the Federal Government for financial assistance
to the Authority, the Authority may obligate itself, which obligation shall
be specifically enforceable and shall not constitute a mortgage,
notwithstanding any other laws, to convey to the Federal Government
possession of or title to the project to which such contract relates, upon
the occurrence of a substantial default with respect to the covenants or
conditions to which the Authority is subject. The contract may further
provide that in the case of such conveyance the Federal Government may
complete, operate, manage, lease, convey or otherwise deal with the
project in accordance with the terms of such contract; provided, that the
contract requires that, as soon as practicable after the Federal
Government is satisfied that all defaults with respect to the project have
been cured and that the project will thereafter be operated in accordance
with the terms of the contract, the Federal Government shall reconvey to
the Authority the project as then constituted.
Source: official Guam text · Last verified 2026-08-27
Frequently Asked Questions About Guam § 5121
What does Guam Code Annotated § 5121 cover?
Section 5121 ("Provisions Permitted in Contracts With Federal") is part of the Guam Code Annotated, the codified statutory law of Guam. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Guam § 5121?
A common citation format is "Guam Code Annotated § 5121" (Guam). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Guam law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Guam official source linked on this page or consult a licensed Guam attorney.
How does Guam § 5121 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Guam can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Guam.