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:
(a) repayment schedules;
(b) interest rates;
(c) specific economic activity required to qualify for the loan or for repayment credits;
(d) collateral or security, if any; and
(e) other terms and conditions considered appropriate by the administrator; and
(2) for a grant or other financial assistance:
(a) requirements for compliance monitoring;
(b) repayment for nonperformance or departure from the state;
(c) collateral or security, if any; and
(d) other terms and conditions considered appropriate by the administrator.