A loan warranty underneath this area shall supply for total amortization of the loan warranty within just not a lot more than forty a long time.
If your Secretary tends to make a payment underneath subsection (a), the Secretary shall be subrogated on the legal rights of the recipient with the payment as laid out in the loan assure or linked agreements, including, as acceptable, the authority (notwithstanding another provision of law) to—
Any prepayment or refinancing terms on a loan guarantee shall be negotiated in between the non-Federal borrower as well as the lender With all the consent in the Secretary.
A rural water provide undertaking that is decided to become feasible beneath portion 2405 of this title is eligible for any loan assurance under segment 2423 of this title.
The time period "loan warranty" has the which means provided the phrase "loan assure" in segment 661a of title 2.
Loan ensures by the Secretary shall not exceed an volume equivalent to ninety percent of the cost of the task that's the subject with the loan guarantee, as estimated at time at which the loan assurance is issued.
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Nothing at all Within this subchapter preempts or has an effect on State drinking water regulation or an interstate compact governing h2o.
The Secretary shall build and publish inside the Federal Register conditions for analyzing the eligibility of a project for economical guidance beneath section 2423 of the title.
Any prepayment or refinancing phrases over a loan promise shall be negotiated amongst the non-Federal borrower and the lender Using the consent of the Secretary.
With respect to any obligation certain less than this section, the Secretary could enter right into a deal to pay for, and pay, holders from the obligation, for and on behalf on the non-Federal borrower, from cash appropriated for that intent, the principal and desire payments that turn out to be because of and payable about the unpaid harmony with the obligation if the Secretary finds that—
A loan assure below this segment shall supply for comprehensive amortization with the loan assurance within just not much more than forty yrs.
A recipient of the loan ensure shall keep these types of information and other pertinent paperwork as the Secretary shall prescribe by regulation, which include this kind of data as the Secretary may possibly require to facilitate a successful audit.
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