1980-070 CRA - Laserfiche WebLink

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. . . . of trust or related to the undersigned's rehabilitation program of which rehabilitation of such property is a part. (f) The corresponding Borrower Note shall be in form and substance satisfactory to Bank and shall be secured by a deed or deeds of trust and such assignments of leases and security agreements, all covering such property of the Borrower, as Bank shall require, and all in form and substance satisfac- tory to Bank and otherwise documented in a manner satisfactory to Bank, (g) The difference between the interest rate specified herein and the per-annum rate on such Borrower Note shall not, while such Borrower Note is held by the undersigned, exceed the maximum interest rate allowable in order to comply with arbitrage rules contained in Section 103 of the Internal Revenue Code of 1954, as amended, and regulations issued thereunder, as in effect from time to time; such Borrower Note shall provide, however, that if such Borrower Note is disposed of by the undersigned in connection with an event of default described in subparagraph (j) below, the 'interest rate charged to the Borrower shall, at the option of any subsequent holder of such Borrower note, be increased to the prevailing rate charged by such holder on similar loans at the time of such disposition, effective upon exercise of such option, In the event of disagreement regarding interpretation or construction of the arbitrage rules described above, the Bank's interpreta- tion or construction shall prevail and be binding, The principal outstanding on such Borrower Note shall be amortized in equal monthly payments over 25 years, but the final payment, in the amount of the entire unpaid principal balance together with interest accrued thereon, shall be due and payable ten years -8- 7...3 5E.