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5 <br />Workmen's compensation will be maintained as required by State law. <br />Public liability and property damage insurance will be maintained as recom- <br />mended by the Entity's attorney and approved by FmHA. If the Entity will own <br />trucks, tractors, or other vehicles that frequently will be driven over public <br />highways, liability and property damage insurance will be required. <br />Fidelity bond coverage in the amount of $500,000 is required on the position <br />of the treasurer and/or others who handle collections and disbursements in an <br />amount at least equal to the total amount of funds which will be on hand at <br />any one time exclusive of loan funds. The bond will be obtained prior to loan <br />closing. Form FmHA 440-24, "Position Fidelity Bond", will be used and copies <br />are attached. The United States of America will be named as co -obligee in the <br />bond. <br />Closing Instructions:, <br />The loan will not be closed until the Regional Attorney has been furnished all <br />the documents required and has issued closing instructions. The Entity's <br />attorney will carry out the Regional Attorney's closing instructions and will <br />certify the loan has been closed in accordance with.;the Regional Attorney's <br />_closing instructions. <br />Other Requirements which Must be Met and Forms to be Completed: <br />A rate schedule will be adopted by the Entity providing for the following <br />residential user rates: <br />Water Rate <br />First 2,000 gallons $7.10 per month - minimum <br />All over 2,000 gallons $1.50 per 1,000 gallons <br />Commercial rates will be established as follows: <br />.Water Rate <br />First 2,000 gallons $7.10 per month - minimum <br />All over 2,000 gallons $1.50 per 1,000 gallons <br />Sewer Rates: <br />Residential - $7.10 for 2,000 gallons of water used, plus 87% of $1.50 per <br />1,000 gallons water used. <br />Commercial - Equals water bill. <br />All residents located in the service area regardless of race, color, creed, <br />or level of income must be afforded an opportunity to become users of the <br />facility. <br />r <br />The Entity must agree to comply with the requirements of Form FmHA 400-1, <br />"Equal Opportunity Agreement," and Form FmHA 400-4, "Assurance Agreement." <br />These agreements must be approved by the governing body and executed before <br />loan approval. <br />APR 211982 27 4-9 TAA E.42T <br />