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system must contain information and documents related to each <br />loan made through the Seed Fund as follows: <br />1) Loan application including all exhibits; <br />2) Loan authorization and all correspondence related to the <br />loan prior to closing; <br />3) Loan closing documents including all documents relating to <br />participation with the private lender; <br />4) Evidence of a 10% equity injection by the small business <br />concern; <br />5) Amortization schedule;, <br />6) Financial statements of the small business concern; <br />7) Related correspondence; <br />8) Evidence of field visits; <br />9) Condition of collateral; <br />10) Tickler file for insurance and UCC; <br />11) Evidence that taxes and insurance have been paid; <br />12) All other items relating to the loan. <br />Restrictions Conflicts of Interest/Self-Dealing <br />Servicing Capability <br />Self -dealing by the EDA, its Board of Directors, employees or any <br />other related parties to the prejudice of the small business concern, <br />or the EDA is prohibited. The EDA shall not permit a significant <br />relationship to exist or to be created between the EDA and a small <br />business concern to be assisted while assistance through the Seed <br />Fund is outstanding. <br />In most cases, the EDA will service the loan. The EDA may <br />require that the private lender to service the loan. In this instance, <br />a servicing agreement will be completed between the private <br />lender and the EDA. Costs of servicing will be paid for by the <br />applicant. <br />59 <br />