Section 830-RICR-10-15-3.3 - Financial AssistanceA. These Loan Policies and Procedures govern the provision of financial assistance to local governmental units to administer a program of septic system repair and cesspool closure in their community. The CSSLP is a source of funds to provide subsequent loans to property owners for the repair or replacement of failed or failing septic systems or substandard systems and cesspool closures within areas identified in the local government unit's On-site Wastewater Management Plan.B. The Bank and the local governmental unit will establish a relationship to be evidenced by a loan agreement to provide financing for repair or replacement of failed, failing or substandard systems in that community. Rhode Island Housing and Mortgage Financing Corporation (RI Housing), or any other entity as selected by the Bank, or its successor, will be the loan servicer (the "Servicer") on the subsequent property owners loans. The Servicer will: 1. accept applications from property owners;2. coordinate payments to septic system installers/cesspool closure contractors/property owners; 3. collect repayments from property owners;4. credit the property owner repayments to the principal repayment obligation of the local governmental unit; and5. make monthly reports to both the Bank and the local governmental unit.830 R.I. Code R. 830-RICR-10-15-3.3