Section 15-169-20 - Acceleration of maturity of loan The occurrence of any of the following events shall be sufficient grounds for the corporation, at its option, to accelerate the maturity of the loan:
(1) The eligible borrower sells, transfers, or refinances the property described in the mortgage; provided, however, that a transfer of title shall be permitted if it appears to the satisfaction of the corporation that the transfer was effected for estate planning purposes and the corporation's security interest is unaffected by the transfer;(2) The eligible borrower rents or fails to occupy the property described in the mortgage as the eligible borrower's permanent and primary residence;(3) The eligible borrower fails to abide by any agreements executed by the eligible borrower for the purpose of the eligible loan;(4) The corporation finds that any statement made by the eligible borrower in the application for an eligible loan to be false; or(5) Failure to respond within thirty days to the corporation's request to verify the occupancy of the eligible borrower. [Eff OCT 25 1999] (Auth: HRS §§ 2016-4, 2016-321) (Imp: HRS § 2016-321)