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DocuSign Envelope ID:7C7602EB-29F3-4061-99CB-C6315D308A85 <br /> FEES AND EXPENSES <br /> Borrows will be responsible for covering non-sufficient funds (NSF) charges that result from <br /> insufficient funds to cover the monthly loan payment draft. <br /> LOAN REPAYMENT <br /> Loan repayments shall be: <br /> 1. Finalized upon loan execution. <br /> 2. Due as stipulated in the repayment schedule and terms. <br /> 3. Collected through Automated Clearing House (ACH)/ Electronic Funds Transfer (EFT). <br /> 4. Eligible for prepayment. <br /> 5. Past due after 30 days. <br /> DELINQUENT ACCOUNT COLLECTIONS <br /> Staff will generate system generated Accounts Receivable and Aging Reports to review <br /> collection status of all loans and at; <br /> 30 Days- Department of Economic Development staff will mail/email 30 Day Past Due Notice <br /> and Department of Finance will initiate Automated Clearing House draft; <br /> 60 Days- Department of Economic Development staff will mail/email 60 Day Past Due Notice, <br /> Department of Finance will resubmit Automated Clearing House draft, Debt Set-Off and County <br /> Attorney Letter; <br /> 90 Days- Department of Economic Development staff will mail/email 90 Day Past Due Notice, <br /> Department of Finance will resubmit Automated Clearing House draft, Debt Set-Off, County <br /> Attorney Letter and Credit Bureau Reporting; and <br /> 90 Days and Older- Department of Economic Development staff will mail/email 90 Day Past Due <br /> Notice, Department of Finance will resubmit Automated Clearing House draft, Debt Set-Off, <br /> County Attorney Letter, Credit Bureau Reporting and Retain Collection Agency <br /> Esbfpgc 043020 v0.2 <br />