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s <br />Fprm ('?HA -M- A 442-18 <br />;Page' 1 <br />(Revisc3 <br />M, T4 -D Sm&=SD% :�:tyW :i Or P.GRICULTim <br />Farmers "rcme Administration <br />%Public Body <br />Date: ' <br />To: Board of County Commissioners, Indian River atg, F rida <br />From: County SUrn--Visor. T:A <br />niepp..hobPA Florida <br />This letter establishes conditions which must be understood and agreed to by <br />you before further consideration may be given to the application. <br />This letter is not to be considered as, _(loan} approval or as a 4 <br />representation as to the availability of funds. The docket may be completed <br />on the basis of a loan not to exceed $ 20,639.000 -arid-%-ossnt-M.&L--t r*%ceed <br />-$ -----------------.If r -k makes the loan, the interest rate will be that <br />charged by FHA at the time of loan approval. <br />Please complete and return the attached Form FHP, 442-46, if you desire that <br />further consideration be given your application. g <br />If the conditions set forth in this letter are not met within 24 months <br />from the date hereof FHA may rescind its offer. <br />Repayment Schedule: <br />The' ' Sai11 be repayable over a period not exceeding 40 years from the <br />date,gf loan closing. Thefirst & second payments) will be due January l,• <br />following loan closing and will consist of interest only. The third payment <br />and all succeeding installments except the last installment will be due on <br />January 1, and will consist of bond maturities plus accrued interest. <br />Number of Users and Verification Required: <br />Prior to beginning construction, if interim financing is used or otherwise prior <br />to closing of the FHA loan, the Association will furnish evidence that 5153 <br />water users and 5153 sewer users have agreed to pay monthly charges for <br />services to be received from the facility being financed. <br />®11-aew_water_users..3.�z're_,s,e.�3,ce-�xaa..mu�arac:i:.a-a-ii�a :.s,�t�:.a�.sa.Z . <br />oia�slda-eke-eaofate-3sr=-ts-; es-t-eo-�x-e� 11ec���. A member o <br />the State Director's staff will audit and authenticate the number of users <br />obtained and check evidence of required cash contributions, if a cash contributio-. <br />is required. <br />Contributions: <br />Each user shall contribute $ 0 cash toward the development of the pro- <br />ject when the User Agreement is executed. This c- contribution shall be used <br />as follows: <br />am <br />ori 17 9 <br />•f <br />I1 <br />