922 loans for Dummies
922 loans for Dummies
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(vi) The prepare will have to provide for these kinds of supplemental demands for assistance specifications as might be required from the Secretary.
The Secretary in making these loans shall, insofar as possible, acquire assurance that the phone support to get furnished or enhanced therefore will likely be designed accessible to the widest realistic variety of rural users. When it is set from the Secretary being essential so that you can furnish or boost phone service in rural regions, this kind of loans can be produced for the development, growth, construction, acquisition, and operation of telephone traces, amenities, or systems with no regard to their geographical locale. The Secretary is even more approved and empowered to make loans for the purpose of refinancing remarkable indebtedness of folks furnishing phone services in rural places, which include indebtedness of recipients on A further telecommunications mortgage produced underneath this chapter. Loans underneath this portion shall not be built unless the Secretary finds and certifies that in his judgment the security therefor in all fairness sufficient and this sort of mortgage is going to be repaid in the time agreed Which no duplication of lines, facilities, or methods, supplying reasonably sufficient solutions will result therefrom.
If your Secretary and the Federal Funding Bank approve this sort of an extension, then the period of the prevailing assure shall even be viewed as prolonged.
Notwithstanding every other provision of this chapter, no prepayment high quality shall be imposed or gathered with respect to that part of a mortgage that may be pay as you go by a borrower in accordance with subparagraph (B).
" for "foundation When the proceeds of your bonds or notes are accustomed to make loans for virtually any electrification or telephone purpose eligible for aid less than this chapter, together with area 904 or 922 of the title or to refinance bonds or notes issued for these functions.", and extra par. (two).
(4) The Secretary shall undertake all sensible attempts to allow the complete amount of deferments authorized by this subsection in the course of Just about every fiscal 12 months.
The borrower shall pay out the charge expected below this part at the time the present warranty is extended by building a payment in the amount of the needed cost.
(ii) involves only People places during which the applicant has the capacity to meet the company necessities below this area, as determined by the Secretary.
Confirmed loans; accommodation and subordination of liens; desire fees; assignability of certain loans and relevant guarantees.
(two) deliver grants only to People jobs which serve rural places wherever inhabitants density or geographic characteristics ensure it is infeasible to build middle mile broadband programs devoid of grant aid.
” in next sentence and “Which no duplication” for “, nor shall this sort of financial loan be built in almost any Point out which now has or might hereafter Have a very Condition regulatory overall body owning authority to control phone company also to require certificates of comfort and necessity to the applicant Unless of course these types of certification from this sort of agency is very first acquired. Within a State during which there is absolutely no these agency or regulatory physique legally licensed to website situation these kinds of certificates on the applicant, no mortgage shall be produced less than this part Except if the Secretary shall figure out (and established forth his motives therefor in composing) that no duplication” in last sentence.
(I) apart from at the discretion in the Secretary, to make an application for or get direct or insured loans described in clause (i) in the course of the a hundred and eighty-thirty day period period of time starting to the day on the prepayment; or
Except as furnished in subparagraph (D), the amount of any grant manufactured less than this segment shall not exceed—
The Secretary shall, with regard to a retail broadband application for aid, that's exterior a location in which the applicant receives Federal universal company help—