En caso de incumplimiento por parte de la escuela cooperativa en el pago de la deuda hipotecaria, el Banco Gubernamental de Fomento para Puerto Rico hará efectiva al acreedor hipotecario la garantía que aquí se autoriza, hasta los límites pactados en el caso. A tales fines, de ser necesario, el Banco podrá emitir bonos sin garantía colateral, garantizados por el crédito y la buena fe del Estado Libre Asociado. Los bonos sin garantía colateral se emitirán por un término no mayor del tiempo que falte para saldar la deuda hipotecaria de la escuela cooperativa, y a un interés anual que no exceda del autorizado a pagar por ley sobre los bonos emitidos por el Estado Libre Asociado, sus municipios, autoridades y corporaciones públicas y por una cantidad no mayor del monto insoluto de la deuda hipotecaria y los gastos incidentales a la emisión.
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