Nevada Administrative Code
Chapter 408 - Highways, Roads and Transportation Facilities
INSTALLATION AND RELOCATION OF FACILITIES AND ENCROACHMENTS
Section 408.Sec. 13 - NEW

1. A qualified borrower shall pay a one-time origination fee of $10,000 or 1 percent of the principal amount of the loan or other financial assistance, whichever is greater, as a condition of closing. The origination fee may be reduced or waived by the Board of Directors. The origination fee may be financed as part of the loan or other financial assistance. Until the origination fee is fully paid, the qualified borrower shall pay an annual servicing fee in an amount equal to the outstanding balance of the origination fee multiplied by the secondary market yield for 1-year United States treasury bills, as published by the Board of Governors of the Federal Reserve System, on the anniversary of the date of the origination of the loan.

2. The Board of Directors may include in the financing agreement a requirement that the qualified borrower pay an amendment fee for each amendment to the financing agreement and documents.