The receiver may be discharged by the judge as provided in § 34-44-12 or at any time in the discretion of the court. The receiver shall be discharged when all of the following have occurred:

(1)  The public nuisance has been abated;

(2)  All costs, expenses, and approved fees of the receivership have been paid;

(3)  Either all receiver’s notes and mortgages issued pursuant to this section have been paid, or all the holder’s of the notes and mortgages request that the receiver be discharged.