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Secondly my understanding of the difference between True LVDS and Emulated LVDS is that former's receiver is terminated internally and thus does not need an external termination. Please correct me if I am wrong.
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Not quite right. Emulated LVDS is a TX feature. LVDS RX are true LVDS receivers on all banks where they are available. MAX10 doesn't provide on-chip parallel termination for LVDS RX. Cyclone V e.g. does. See this doc
https://www.altera.com/content/altera-www/global/en_us/index/documentation/sam1394433606063.html MAX10 can basically implement Bus-LVDS (M-LVDS), the specifications are almost similar to TIA-899.
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