LD 1766
pg. 13
Page 12 of 21 PUBLIC Law Chapter 537 Page 14 of 21
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LR 2611
Item 1

 
1. Insurance. The authority may make commitments and
agreements to insure mortgage loan payments. Any mortgage loan
insurance shall must be subject to the following:

 
A. A mortgage payment may not be applied in a manner that
would, for any one project, increase the percentage of
mortgage payments insured by the authority, except that this
paragraph does not apply when insurance payments for any one
project may not in the aggregate exceed the lesser of 25% of
the original principal amount of the mortgage loan or Loan
insurance may not exceed:

 
(1) In the case of insurance provided pursuant to section
1026-B, $250,000; One hundred percent of the principal
amount of the loan made to any borrower including
related entities for any of the following types of
loans or projects:

 
(a)__Loans to veterans and wartime veterans,
except that the authority may not at any time
have, in the aggregate amount of the principal and
interest outstanding, loan insurance obligations
pursuant to this division exceeding $5,000,000;

 
(b)__Underground and aboveground oil storage
facility projects and projects to install
equipment related to the improvement of air
quality pursuant to requirements for gasoline
service station vapor control and petroleum
liquids transfer vapor recovery, except that the
authority may not at any time have, in the
aggregate amount of the principal and interest
outstanding, loan insurance obligations pursuant
to this division exceeding $5,000,000;

 
(c)__Clean fuel vehicle projects, except that the
authority may not at any time have, in the
aggregate amount of the principal and interest
outstanding, loan insurance obligations pursuant
to this division exceeding $5,000,000;

 
(d)__Waste oil disposal site clean-up projects,
except that the authority may not at any time
have, in the aggregate amount of the principal and
interest outstanding, loan insurance obligations
pursuant to this division exceeding $1,000,000; or

 
(e)__The Plymouth waste oil remedial study, except that the
authority may not at any time have, in the aggregate amount of
the principal and interest


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