D. In exchange for the guarantee of the payment of amounts due on guaranteed financing issued by or on behalf of an achievement district school, the board and the fund are entitled to protections and remedies relating to the repayment of the amount, if any, paid from the fund with respect to the guaranteed financing, and the payment of program participation fees. The protections and remedies may include one or more of the following:

1. 1. The right to all or a portion of the proceeds from the sale or lease of any property serving as collateral for a guaranteed financing.
2. 2. The right to intercept any payments or monies otherwise payable to the school.
3. 3. The right to any insurance proceeds otherwise payable to the school.