(a) The borrower:
- (1) Shall agree to initiate and complete the construction of the project quickly;
- (2) Shall request a construction schedule from the contractor;
- (3) Will monitor the contractor's performance regarding the schedule; and
- (4) Will act to ensure construction is completed quickly.
- (b) Failure to initiate and complete a project by the date specified in the bond purchase agreement may result in the stoppage of loan disbursements.