The Secretary shall approve these Point out funds obtain application as suitable for Federal contributions on the reserve fund if—
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(A) depositing all demanded top quality expenses compensated with the economical institution lender and by Just about every borrower acquiring a loan under an permitted Point out program from that fiscal establishment lender;
(E) consists of an arrangement from the Point out to provide towards the Secretary, and update annually, a plan describing how the State intends to apportion among the its Condition courses the Federal funds allotted into the Point out.
(D) underneath the circumstances described in area 5703(d) of the title, a municipality of the Condition of The usa to which the Secretary has given a Unique permission below section 5703(d) of this title; and
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If the Secretary approves municipalities for being participating municipalities under this subsection, the Secretary shall consider the extra considerations in portion 5705(d) of this title in building the perseverance beneath portion 5704 or 5705 of the title the Condition application or systems to be executed via the taking part municipalities, together with a State cash entry method, is suitable for Federal contributions to, or to the account of, the Condition application.
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