(4) Notwithstanding any other provisions of this subsection, a mortgagee shall not accrue
any penalty if the notice required by this subsection is mailed to the borrower:
(i) Within sixty (60) days after the date upon which the loan is released from the protection
of the automatic stay in a bankruptcy proceeding, or any similar injunctive order
issued by a state or federal court, or within sixty (60) days after a loan is no longer
afforded protection under the Servicemembers Civil Relief Act (50 U.S.C. § 3901 et seq.) or the provisions of § 34-27-4(d), or within one hundred twenty (120) days of the date on which the mortgagor initially
failed to comply with the terms of an eligible workout agreement, as hereinafter defined;
and