Section 28.84 - Default by RecipientA recipient may be declared in default if one or more of the following conditions exists as determined by the Authority and/or lender, whichever is applicable, and any other reasons that may be identified in the closing documents of the loan:
(1) The recipient does not pay a scheduled principal or interest payment;(2) The recipient fails to comply with any condition, covenant, obligation, provision, requirement, or term of the note, loan agreement, or instrument securing the loan;(3) The recipient fails personally to complete the project as described in the application;(4) The recipient fails to provide the lender with financial statements and any other documents as required by these rules; or(5) The recipient fails to meet the project goals defined in the application.4 Tex. Admin. Code § 28.84
Adopted by Texas Register, Volume 47, Number 19, May 13, 2022, TexReg 2856, eff. 5/18/2022