The lender shall service the loan and receive all payments of principal and interest, including assessment of any late charges, if applicable, in accordance with its loan guaranty agreement with the Authority, which agreement shall, among other things, obligate the lender to service the loan even after an event of default.

Source Note:The provisions of this §28.12 adopted to be effective April 23, 1991, 16 TexReg 2051; amended to be effective October 4, 1995, 20 TexReg 7596.