PROMISSORY NOTE (LONG FORM)

All collections are used to repay principal and interest on its Treasury loans. The agency has authority to obligate $120,000 in loans in fiscal year 1, for which the subsidy model shows a 21.5 percent subsidy rate, comprised of: • Defaults, 20 percent; 20.0 • Interest differential, 2 percent; and 2.0 … ................
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