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return of the execmed commitment letter, corrzmunity development staff will begin <br />th~ loam closing process with th~ City k~orney. <br /> <br />Closing. The City Attorney will prepare documentation and coordinate the closing <br />with the Borrower or the Borrower's counsel. <br /> <br />O. Loan servicing. Community development staff Will .coordinate loan servicing activities. <br /> <br />Monitoring. Community development staff will monitor loans for compliance w/th <br />the accepted terms and condition~ including job creation statistics and wage and <br />benefit levels. · <br /> <br />Reports. Community development staff and.::fmance s'ta~are responsible for ensuring <br />that all required report~ are fried in. a:timely manner. <br /> <br />Records. Computer f~%'and conventional pap'el flies ~!:be maintained for the <br />purpose of docume'~'~-g?~ck2n~;afia~mo~Oring <br /> program and project activities. <br />Program:.mcorc[s w~H bem.4inta/:h~dJi~md!y?by the Community Devetopment' <br />Division-'ind finan~f'~: i)d'cerds vd'iI"lfe m"-~tained primarily by the Finance Division. <br />Where appLicabl~, the fol.b.win~:mcords will be maintained: <br /> <br />a Pro~am recor&i Tae following program information will be maintained in the <br /> program project file, including but not limited to: <br /> <br />i. Environmental report; <br />ii. Eli~bility determination records as.set forth in Section VIII, Subsection E <br /> (1) (a-n); <br />iii. Property inspection report; <br />iv. ProgreSs reports; <br />v. EDA P,.esOlufiorm; <br />vi. Correspondence; <br />vii. Loan document~; and <br />viii. Executed loan agreement. <br /> <br />b. Financial records. The following financial information' will be maintained in the <br /> financia/project file, including but not limited to: <br /> <br />14 <br /> <br />i. Copy of the executed loan agreement; <br />ii. Disbursement data; <br />i~i. Pro~ess reports; <br /> <br /> <br />