General

General. The proceeds from the issuance of Bonds will be loaned to the Borrower to be applied to the payment of Eligible Costs of the Project. Such loan made by MBFC will not exceed two million dollars ($2,000,000) in the aggregate to any one Borrower, and the term shall not exceed fifteen (15) years. The rate on the loan will be a fixed rate of interest equal to the net interest rate on the Bonds plus annual fees as hereinafter defined.