Utah Code 63N-3-107. Agreements
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The administrator shall enter into agreements with each successful applicant that have specific terms and conditions for each loan, grant, or financial assistance under this part, including:
(1) for a loan:
Terms Used In Utah Code 63N-3-107
- Administrator: means the executive director or the executive director's designee. See Utah Code 63N-3-102
- Applicant: means an individual, for profit business entity, nonprofit, corporation, partnership, unincorporated association, government entity, executive branch department or division of a department, a political subdivision, a state institution of higher education, or any other administrative unit of the state. See Utah Code 63N-3-102
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(1)(a) repayment schedules;
(1)(b) interest rates;
(1)(c) specific economic activity required to qualify for the loan or for repayment credits;
(1)(d) collateral or security, if any; and
(1)(e) other terms and conditions considered appropriate by the administrator; and
(2) for a grant or other financial assistance:
(2)(a) requirements for compliance monitoring;
(2)(b) repayment for nonperformance or departure from the state;
(2)(c) collateral or security, if any; and
(2)(d) other terms and conditions considered appropriate by the administrator.