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EXHIBIT C: LOAN ADMINISTRATION SERVICE AGREEMENT Scope of Services When and as requested in writing by Agency, Lender or its Agent shall provide fund disbursement and/or related services for property improvements in connection with loans made by Lender or Agency to homeowner and/or property/business owners for the expansion or improvement of the property. Service shall include, but shall not be limited to, the areas described below and shall be compensated at rates attached herein. Fund Disbursement Services 1. Upon loan approval Agency agrees to send loan proceeds and completed control instructions indicating: owner's name, contractor's name, project address, project dollar amount, instructions for disbursement process and original Borrower and Agency official signatures to Lender or its Agent. 2. Agency agrees to forward completed written authorizations including appropriate signatures from Borrower and Agency to Lender or its Agent to receive disbursements. 3. Lender or its Agent agrees to verify information on the Disbursement Authorization and when correct issue a check for the indicated amount within seventy-two hours of authorization of receipt. 4. At the request of the Agency, or as required by Lender, Lender or its Agent shall hold a retention fund up to thirty days after recording of the Notice of Completion or until loan documentation necessary is complete. Lender or its Agent shall record the Notice of Completion with the appropriate county. 5. Agency agrees to compensate Lender for outside costs incurred in disbursement activity and agrees to compen- sate Lender at the fees attached herein. 6. Agency hereby agrees to hold Lender and its Agent harmless for any negligent acts or omissions of the Agency's employees including, without limitation, any violations of State and/or federal statues or regula- tions.