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6 <br />and shall indicate the total of the principal balances of all Program Loans that will be <br />outstanding after the making of such loan to such borrower. <br />(b) Within five Business Days after the County's receipt of a notice as <br />described in subsection (a) above, the County shall send notice to the Company <br />acknowledging the Company's intent to make a Program Loan in partial reliance upon <br />the County's obligations under this Support Agreement. <br />1.04. The Company shall put in place and administer a commercially reasonable <br />program of collection on overdue Program Loans. The Company shall submit its general <br />overall plan for collections to the County; and the overall plan shall be subject to the <br />County's approval. The Company shall thereafter be free in its. reasonable discretion to <br />administer the plan so approved by the County. <br />ARTxCLE I~ <br />CU~~~~~S.~S~tEEMENT TO PROVIDE LOAN LOSS RESERVE <br />2.01. (a) The County agrees to provide. the Loan Loss Reserve to support the <br />Loan Program. As provided and described below, County will make payments to the <br />Company. from the Loan Loss Reserve for each Loan Loss. <br />(b) The County has previously appropriated $150,000 to serve as the Loan <br />Lass Reserve. The Loan Loss Reserve exists as a separate account for accounting <br />purposes on the County's books and records, and the County may not use the amounts <br />designated and appropriated for the Loan Loss Reserve for any other purpose without <br />additional action by the County's Board of Commissioners. To the extent permitted by <br />law, the County agrees not to reduce the amount available as the Loan Lass Reserve at <br />any time before the Termination Date. <br />2.02. (a) Within five Business Days after receiving notice from the Company <br />of a Loan Loss, as provided in Section 4.1 of the Loan Agreement, the County shall pay <br />to the Company, but only from the Loan Loss Reserve and for deposit in the Company <br />Loan Loss Account, an amount equal to 30% of the Loan Loss stated in such notice. The <br />Company's determination of a Loan Loss shall bind the County in the absence of <br />manifest error. <br />(b) Notwithstanding any other provision of this Support Agreement, however, <br />(i) the County shall have no obligation to make any payment from the Loan Loss Reserve <br />at any time that the Company or the Banks are in default under this Support Agreement <br />or the Loan Agreement, (ii) the County shall have no obligation to make payments from <br />the Loan Loss Reserve in an aggregate amount exceeding $150,000, and (iii) the County <br />shall have no obligation to make any payment from the Loan Loss Reserve after the <br />2 <br />