FILED ON: 7/29/2014

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 4379

The Commonwealth of Massachusetts

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In the Year Two Thousand Fourteen

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An Act relative to the leasing of certain land owned by the Worcester City Campus Corporation.

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

Section 15 of chapter 138 of the acts of 1992 is hereby amended by striking out the second sentence, as appearing in section 3 of chapter 373 of the acts of 1996, and inserting in place thereof the following sentence:-  Any such lease may be: (i) mortgaged, assigned, or transferred to a lender holding a leasehold mortgage or interest in the leased property or improvements thereto and which, in the ordinary course, is foreclosing on its interest in the property or improvements or receiving a deed or other instrument in lieu of foreclosure, or to any persons or entitles taking an interest in the property or improvements through or under such foreclosing lender, or (ii) assigned, with the  prior written approval of the division, to any entity wholly owned or controlled by the corporation.