Close-out. The Department shall conduct a final inspection of the Project and Project records. Following the inspection, deadlines for submitting additional disbursement requests, if any, shall be established, along with deadlines for uncompleted Loan requirements, if any. Deadlines shall be incorporated into the Loan Agreement by amendment. The Loan principal shall be reduced by any excess over the amount required to pay all approved costs. As a result of such adjustment, the Semiannual Loan Payment shall be reduced accordingly, as addressed in Section 10.05.
Appears in 11 contracts
Samples: State Revolving Fund Loan Agreement, Drinking Water State Revolving Fund Construction Loan Agreement, Clean Water State Revolving Fund Construction Loan Agreement
Close-out. The Department shall conduct a final inspection of the Project and Project records. Following the inspection, deadlines for submitting additional disbursement requests, if any, shall be established, along with deadlines for uncompleted Loan or Principal Forgiveness requirements, if any. Deadlines shall be incorporated into the Loan Agreement by amendment. The Loan principal shall be reduced by any excess over the amount required to pay all approved costs. As a result of such adjustment, the Semiannual Loan Payment shall be reduced accordingly, as addressed in Section 10.05.
Appears in 5 contracts
Samples: Drinking Water State Revolving Fund Construction Loan Agreement, Drinking Water State Revolving Fund Planning, Design and Construction Loan Agreement, Drinking Water State Revolving Fund Construction Loan Agreement
