N.Y. Urban development guarantee fund of New York 175/68 § 10: Loan guarantee premium

§ 10. Loan guarantee premium. The fund is authorized but not required

to fix premiums for the guarantee of loan repayments under the

provisions of this act, such premiums to be computed as a percentage,

which shall not exceed one percentum per annum on that portion of the

principal obligation guaranteed hereunder as the fund shall determine on

the basis of all pertinent available data. Such premiums shall be

payable by the borrower in such manner as shall be prescribed by the

fund. The amount of premium is not required to be uniform among the

various loans insured provided, however, that that premium provided for

hereunder shall not be payable more than once on loan guarantees given

under subdivision (b) of section eight of this act.