Page:United States Statutes at Large Volume 103 Part 1.djvu/264

 103 STAT. 236 PUBLIC LAW 101-73—AUG. 9, 1989 in possession and is not, as of the date of such repudiation, in default, such purchaser may either— "(i) treat the contract as terminated by such repudi- ation; or "(ii) remain in possession of such real property. " (B) PROVISIONS APPLICABLE TO PURCHASER REMAINING IN POSSESSION. — If any purchaser of real property under any contract described in subparagraph (A) remains in posses- sion of such property pursuant to clause (ii) of such subparagraph— "(i) the purchaser— "(I) shall continue to make all pa3mients due ation of the contract; and s' "(II) may offset against any such payments any i damages which accrue after such date due to the nonperformance (after such date) of any obligation of the depository institution under the contract; ' ,» . and "(ii) the conservator or receiver shall— "(I) not be liable to the purchaser for any dam- ages arising after such date as a result of the .;; repudiation other than the amount of any offset allowed under clause (i)(H); "(II) deliver title to the purchaser in accordance with the provisions of the contract; and "(III) have no. obligation under the contract other ' ".' - than the performance required under subclause (II). v•' " (C) ASSIGNMENT AND SALE ALLOWED.— "(i) IN GENERAL.— No provision of this paragraph shall be construed as limiting the right of the conserva- tor or receiver to assign the contract described in, subparagraph (A) and sell the property subject to the contract and the provisions of this paragraph. "(ii) No LIABILITY AFTER ASSIGNMENT AND SALE.— If an assignment and sale described in clause (i) is con- summated, the conservator or receiver shall have no further liability under the contract described in subparagraph (A) or with respect to the real property which was the subject of such contract. . „:, "(7) PROVISIONS APPLICABLE TO SERVICE CONTRACTS. — Claims. ' "(A) SERVICES PERFORMED BEFORE APPOINTMENT. —In the case of any contract for services between any person and any insured depository institution for which the Corpora- tion has been appointed conservator or receiver, any claim of such person for services performed before the appoint- ment of the conservator or the receiver shall be— "(i) a claim to be paid in accordance with subsections (d) and (i); and "(ii) deemed to have arisen as of the date the con- servator or receiver was appointed. "(B) SERVICES PERFORMED AFTER APPOINTMENT AND PRIOR TO REPUDIATION. — If, in the case of any contract for services described in subparagraph (A), the conservator or receiver accepts performance by the other person before the con- servator or receiver makes any determination to exercise
 * under the contract after the date of the repudi-

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