Practically nothing During this subchapter supersedes or amends any Federal regulation associated with a undertaking, or possibly a part of a task, created beneath the reclamation laws.
If a borrower defaults within the obligation, the holder in the loan ensure shall have the right to desire payment from the unpaid amount of money with the Secretary.
Any prepayment or refinancing conditions with a loan warranty shall be negotiated concerning the non-Federal borrower and also the lender Using the consent from the Secretary.
You will discover approved to generally be appropriated these sums as are essential to execute this subchapter, to remain out there until eventually expended.
An obligation shall bear fascination at a charge that does not exceed a level which the Secretary decides to get proper, taking into consideration the prevailing charge of interest in the non-public sector for very similar loans and pitfalls.
(i) that is authorized by Federal reclamation law and created by The usa less than such law; or
Loan guarantees below this area for your challenge shall be on such terms and conditions and include this sort of covenants, representations, warranties, and demands as being the Secretary decides to get acceptable to safeguard the fiscal passions of the United States.
Practically nothing Within this subchapter preempts or influences Point out water legislation or an interstate compact governing h2o.
The Secretary and also the Secretary of Agriculture shall enter into a memorandum of settlement supplying for Section of Agriculture economical appraisal functions and loan promise administration for actions performed below this subchapter.
Any prepayment or refinancing terms on a loan guarantee shall be negotiated in between the non-Federal borrower and also the lender With all the consent from the Secretary.
With regard to any obligation confirmed under this segment, the Secretary may possibly enter right into a deal to pay for, and pay back, holders from the obligation, for and on behalf in the non-Federal borrower, from cash appropriated for that reason, the principal and desire payments that come to be due and payable around the unpaid balance in the obligation In case the Secretary finds that—
An obligation shall bear curiosity in a charge that doesn't exceed a stage that the Secretary establishes for being appropriate, making an allowance for the prevailing fee of interest from the private sector for identical loans and pitfalls.
Loan guarantees below this segment for the job shall be on these types of conditions and terms and contain this kind of covenants, representations, warranties, and needs since the Secretary decides for being proper to guard the economic interests of the United States.
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