Code of Maine Rules
94 - INDEPENDENT AGENCIES
457 - FINANCE AUTHORITY OF MAINE (FAME)
Chapter 204 - SECONDARY MARKET PROGRAM
Section 457-204-10 - Rights and Liabilities

The guarantee and right to require purchase of a Certificate will be directly enforceable by Holder notwithstanding any fraud or misrepresentation by Lender or any unenforceability of the Loan Note Guarantee for that Certificate by Lender. Nothing contained in the Loan Note Guarantee will constitute any waiver by the Authority of any rights it possesses against the Lender. Lender will be liable for and will promptly pay to the Authority any payment made by the Authority to Holder which if such Lender had held the Guaranteed Portion of the Eligible Loan, the Authority would not be required to make.