(one) rescind an insured telephone bank loan designed beneath this chapter with no consent in the borrower, Except all of the reasons for which telephone loans are created to your borrower underneath this chapter have already been attained with resources supplied under this chapter;
(ii) increasing the superb principal harmony on the financial loan advance confirmed because of the Secretary that is certainly getting refinanced less than this part by the amount of the penalty.
Such loans shall be on these types of terms and conditions relating to the expenditure in the moneys loaned and the safety therefor as being the Secretary shall determine and should be made payable in total or in part out of the income, except that no bank loan for the development, Procedure, or enlargement of any producing plant shall be manufactured Except the consent of your State authority possessing jurisdiction while in the premises is initial attained.
From the amounts furnished to an suitable entity beneath a grant beneath the Program, the eligible entity shall use to carry out paragraph (one)(B) not bigger compared to the lesser of—
inserted provisions prohibiting Administrator from offering support to phone borrower unless borrower exclusively applies therefor.
(B) The quantity of the deferment shall not exceed 50 % of the full price of a community or economic development undertaking for which a deferment is delivered below this subsection.
In the situation from the refinancing of a mortgage of a borrower pursuant to this section plus the inclusion of the penalty from the fantastic principal harmony of the refinanced loan pursuant to subsection (b)(3)—
The fascination level on a mortgage refinanced beneath this part shall be identified to generally be equal to the then present expense of money on the Department of the Treasury for obligations of equivalent maturity to the phrase selected with the borrower pursuant to paragraph (three), except that this sort of charge shall not be increased than 7 percent annually, subject to subsection (d).
The Secretary shall evaluate the bonding specifications for all packages administered by the Rural Utilities Support beneath this chapter making sure website that bonds are usually not required if—
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The Secretary could use the funds appropriated for just a grant underneath this subchapter for the price (as outlined by section 661a of title 2) of delivering aid underneath paragraph (2).
A lender that receives a assurance issued below this area with a bond or note shall pay back a charge to your Secretary.
§ 926. Particular rural enhancement investments by qualified phone borrowers not taken care of as dividends or distributions
The Secretary shall, with regard to a retail broadband software for assistance, and that is outside a location in which the applicant receives Federal universal company guidance—