Nevada § 315.780 - Additional remedies conferrable by authority on obligee

§ 315.780. Additional remedies conferrable by authority on obligee

By its resolution, trust indenture, mortgage, lease or other contract, an authority

may confer upon any obligee holding or representing a specified amount in bonds, the

right (in addition to all rights that may otherwise be conferred), upon the happening

of an event of default as defined in such resolution or instrument, by suit, action

or proceeding in any court of competent jurisdiction: 1. To cause possession of any housing project or any part thereof to be surrendered

to any such obligee. 2. To obtain the appointment of a receiver of any housing project of the authority

or any part thereof and of the rents and profits therefrom. If the receiver be appointed, he or she may enter and take possession of such project

or any part thereof and operate and maintain it, collect and receive all fees, rents,

revenues or other charges thereafter arising therefrom, and shall keep such moneys

in a separate account or accounts and apply the same in accordance with the obligations

of the authority as the court shall direct. 3. To require the authority to account as if it were the trustees of an express trust.