Nothing in this chapter shall prevent:

1. (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. (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]