[§657D-6]  Effect on rights, remedies, etc., pursuant to written agreements entered after commencement of military service.  Nothing in this chapter shall prevent:

     (1)  The modification, termination, or cancellation of any contract, lease, or bailment or any obligation secured by mortgage, trust deed, lien, or other security in the nature of a mortgage; or

     (2)  The repossession, retention, foreclosure, sale, forfeiture, or taking possession of property that is security for any obligation or which has been purchased or received under a contract, lease, or bailment;

pursuant to a written agreement of the parties thereto (including the person in military service, whether or not the person is a party to the obligation), or their assignees, executed during or after the period of military service of that person. [L 1994, c 257, pt of §2]