63N-3-107. Agreements.
The administrator shall enter into agreements with each successful applicant that have specific terms and conditions for each loan, grant, or financial assistance under this part, including:
(1) for a loan: repayment schedules; interest rates; specific economic activity required to qualify for the loan or for repayment credits; collateral or security, if any; and other terms and conditions considered appropriate by the administrator; and
(2) for a grant or other financial assistance: requirements for compliance monitoring; repayment for nonperformance or departure from the state; collateral or security, if any; and other terms and conditions considered appropriate by the administrator.