SPECIAL INTEREST TERMS. Interest on the principal of each Loan shall be payable from the date of disbursement to and including the “End Date” as provided in the applicable Commitment Letter. In the event that Association determines that Borrower has failed to comply with such requirements and conditions, then the Special Interest Rates shall not be in effect and the Interest Rate shown in the applicable Commitment Letter shall apply to amounts advanced. Lender shall have no duty of notice to Borrower of such determination.
Appears in 5 contracts
Samples: Loan Application and Agreement, Loan Application and Agreement, Loan Application and Agreement
