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<br /> . <br /> 10 <br /> I' <br /> 1 Secretary intends to terminate the insurance contract sixty -l~ <br /> 2 days after such notice is received by the lender, and the <br /> 3 lender shall be entitled to demand payment by the Secretary <br /> 4 as above provided at any time during said sixty-day period, <br /> 5 whether or not the default is removed and remedied, and if <br /> 6 the lender shall fail to make such demand, the insurance con- <br /> 7 tract may be terminated by the Secretary on or after the <br /> 8 expiration of such period. Within a period of thirty days from <br /> 9 the date of any such demand, the Secretary shall accept the <br /> 10 assignment and promptly pay to the lender the unpaid debt ~-. <br /> ,: <br /> service to the date of payment: Provided, That except in any , <br /> 11 -{ ..,.. <br /> ....{,. ~". <br /> 12 case in which the Secretary has given notice of intention to <br /> 1, <br /> 13 terminate the insurance contract pursuant to the foregoing <br /> 14 provisions, the Secretary shall not be required to accept such <br /> 15 assignment if prior to the expiration of said thirty-day period <br /> 16 he shall find that there was no default or that such default <br /> 17 was removed or remedied prior to any such demand. <br />. 18 (e) Any amount required to be paid by the Secretary <br /> 19 pursuant to any insurance agreement shall be paid in cash. <br /> J <br /> 20 (f) In the event the Secretary shall accept the assign- <br /> 21 ment of a loan agreement upon the default of a water author- <br /> 22 ity pursuant to subsection (d) of this section, he shall take <br /> 23 such action against the water authority or any other parties <br /> 24 liable under the loan agreement or the obligations evidencing . " <br /> , <br /> , <br /> ~. <br /> 25 such loan thereunder that, in his discretion, may be required <br /> <br />H.R. 4380-ih <br />