Illinois Administrative Code
Title 35 - ENVIRONMENTAL PROTECTION
Part 886 - BROWNFIELDS REDEVELOPMENT LOAN PROGRAM
Subpart C - NONCOMPLIANCE WITH LOAN CONDITIONS AND PROCEDURES
Section 886.305 - Loan Termination by the Agency
Universal Citation: 35 IL Admin Code ยง 886.305
Current through Register Vol. 48, No. 38, September 20, 2024
a) The Agency, by written notice, may terminate the loan, in whole or in part, for cause. Cause for termination shall include, but shall not be limited to, failure by the loan recipient to comply with the terms and conditions of the loan agreement or this Part.
b) No action shall be taken under this Section without a prior reasonable and good faith attempt to consult, either orally or in writing, with the loan recipient.
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