The city may fix the character, terms and conditions upon which construction loans, mortgage loans, loans to lenders and participation purchases may be made. Construction loans and mortgage loans made to participating parties through or by qualified mortgage lenders, and loans to lenders made to and participation purchases made from qualified mortgage lenders, shall be of such character and on such terms and conditions as are established by the city. The full amount owed on any such loan may be made due and payable upon sale or other transfer of ownership of the residence financed by such loan and upon such terms and conditions as may be established by the city. (Ord. 1505 NCS §1 (part), 1982.)