15.3.1.120 Assignment

Unless otherwise prohibited in the mortgage documents or under applicable law, Borrower may assign any mortgaged property at any time prior to commencement of foreclosure proceedings; provided that:

(a) The successor Borrower is a Member of the Pueblo, a Pueblo instrumentality or entity, or a Federal Agency; and

(b) Borrower receives all required consents in writing from the SIHA, Lender, and/or applicable Federal Agency, if any.

(c) SIHA's residential lease form may allow the Borrower to assign mortgaged property to persons/entities in (a) above without further SIHA consent. SIHA consent is required where assignment is to any other person or entity not listed in (a) above.