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This Loan Agreement is made between Maryland Water Quality Financing Administration and a local government entity to assist in financing projects related to wastewater management and improvements using federal and state funds as authorized by the Clean Water Act.
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A loan agreement is a legal document that outlines the terms and conditions between a borrower and a lender, specifying the amount of money being borrowed, the interest rate, repayment schedule, and other obligations.
Typically, both the borrower and the lender are required to sign and retain a copy of the loan agreement, but it is often the lender who formally files or records it if necessary.
To fill out a loan agreement, include the names and contact information of both parties, the loan amount, interest rate, payment schedule, due dates, and any additional clauses that pertain to the agreement.
The purpose of a loan agreement is to clearly outline the terms of the loan, protect the rights of both parties, and provide a legal framework for resolving disputes.
Information that must be reported on a loan agreement includes the loan amount, interest rate, repayment terms, default conditions, and any collateral involved.
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