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<br />. <br /> <br />. <br /> <br />. <br /> <br />Long Range Plan. [Aug 94] <br /> <br />o. <br /> <br />In recommending loans for specific projects which involve matters of state-wide concern, <br />such as interstate compacts, the staff may recommend to the Board a lending rate <br />somewhat lower than the adopted rate for that particular class of borrower. [Nov 97] <br /> <br />p. <br /> <br />Deviations from the standard terms will be based on staff and Board review of the benefits of <br />the project to the State coupled with the financial capacity of the project sponsors. Deviation <br />from standard loan terms may require additional documentation of financial need. [Aug 94] <br /> <br />q. <br /> <br />In general, Construction Fund loans will be utilized to supplement those funds which could be <br />made available to the project sponsor from other sources. [Aug 94] <br /> <br />r. <br /> <br />The project sponsor must provide adequate security to guarantee repayment of the loan. The <br />security may be: <br /> <br />. title to project property equal in value to the loan; <br />. a pledge of revenues or taxes; or <br />. bonds, notes or other securities. [Aug 94] <br /> <br />s. <br /> <br />Any request for deferment of payment on an existing loan will require either: (1) the <br />borrower to pay interest for the period in which the loan payment was deferred or (2) <br />calculation of a new loan amortization schedule which provides for adding to the <br />principal of the loan the interest which accrues during the period in which the loan <br />payment is deferred. [Nov 97] <br /> <br />, ' <br /> <br />5 <br />