New Step by Step Map For 922 loans
New Step by Step Map For 922 loans
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The Secretary might not, with no consent with the borrower, call for, as being a affliction of processing an software for acceptance, that the borrower conform to pay back The prices, costs, and expenditures of consultants employed to deliver technical or advisory products and services on the Secretary.
(ii) has the legal capacity and authority to enter right into a deal, to adjust to relevant Federal legislation, and also to possess and run broadband services, as proposed in the appliance submitted through the entity for any grant beneath the Program.
The Secretary might not, as a condition of constructing a telephone bank loan to an applicant therefor, demand the applicant to—
(i) be completed in a very proposed company territory in which not less than ninety % in the households are unserved; and
This kind of goods might be paid in connection with certain loans immediately after or in reference to the acquisition of this kind of loans or protection thereof immediately after default, on the extent identified to be necessary to defend the fascination of the Government, or in connection with some other action approved On this chapter;
In order that the Secretary has the resources necessary to thoroughly study the proposed assures, the Secretary may possibly limit the quantity of guarantees issued less than this area to 5 every year.
§934. Approved fiscal transactions; interim notes; purchase of obligations for resale; sale of notes and certificates; liens
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The level of certain loans shall be issue only to these restrictions concerning amounts as could be licensed once in a while through the Congress of get more info America: Presented, That any quantities guaranteed hereunder shall not be included in the totals of your funds of the United States Federal government and shall be exempt from any typical limitation imposed by statute on expenditures and Internet lending (spending plan outlays) of the United States. As utilised in this subchapter a certain personal loan is a single and that is initially produced, held, and serviced by a legally arranged lending agency and that's confirmed by the Secretary hereunder. A guaranteed mortgage, such as the similar assure, could be assigned on the extent furnished from the deal of assurance executed because of the Secretary less than this subchapter; the assignability of these types of personal loan and assurance shall be ruled exclusively by stated deal of warranty.
If a Condition doesn't establish a plan in accordance with the requirements of your preceding sentence, the Secretary shall approve any telecommunications modernization plan with the Condition that satisfies the necessities that is definitely designed by a vast majority of your borrowers of telephone loans built beneath this subchapter who can be found while in the State.
Not fewer than 3 although not much more than 5 p.c of system degree quantities offered pursuant to quantities appropriated to execute subchapter VI shall be put aside to be used for—
The Secretary is approved and empowered to bid for and buy at any foreclosure or other sale, or normally to acquire, residence pledged or mortgaged to secure any financial loan created pursuant to this chapter; to pay for the purchase rate and any charges and expenses incurred in link therewith from the sums approved in section 903 of this title; to simply accept title to any property so ordered or acquired from the title of the United States of The united states; to work or lease these types of assets for this sort of interval as might be deemed important or advisable to guard the investment therein, but not to exceed five years following the acquisition thereof; also to provide this kind of house so ordered or obtained, on such terms and for these kinds of thought because the Secretary shall determine for being realistic.
Very little In this particular segment boundaries the authority from the Secretary to determine terms and conditions with regard to the use by borrowers on the proceeds of loans made or confirmed under this chapter or to choose some other motion especially licensed by regulation.
When furnishing a grant underneath this subchapter, the Secretary, at the only discretion from the Secretary, may make—