Page:United States Statutes at Large Volume 106 Part 5.djvu/510

 106 STAT. 4148 PUBLIC LAW 102-554—OCT. 28, 1992 a plan approved by a county committee under this section if the S^ni^tary determines that— "(1) the operation would generate income sufficient to cover the expenses of the operation, debt service, and adequate living expenses of the applicant, to the extent that other income would not cover the living expenses, if the operation received assistance under this section as provided for in the plan; and "(2) during the commitment period established in accordance with subsection (e)(D, the operation will be financially viable without further assistance nrom the Secretary and the identified goals are reasonable and practicable. "(1) DETERMINATION OF COMMITMENT PERIOD.— "(A) INITIAL DETERMINATION. — In approving an application under subsection (d), the Secretary shall, subject to subparagraph (C), determine the period during which assistance under this section is to be provided for Hie operation described in the application (referred to in this subsection as the 'commitment period'). "(B) AUTHORITY TO EXTEND PERIOD; NO AUTHORITY TO REDUCE PERIOD. — At any time, the Secretary may, subject to subparagraph (C) and subisections (f) and (g), extend the duration or the commitment period. The Secretary shall not reduce the duration of the commitment period. " (C) LIMITATIONS. — "(i) IN GENERAL. — The duration of any commitment period (including any extensions of the period) shall not exceed 10 years and shall be consistent with section 319. "(ii) ELIGIBILITY FOR INSURED OPERATING LOANS.— During the commitment period, an applicant shall not be eligible to receive an insured operating loan under this lection after the date that is 8 years after the date on which the applicant first receives assistance under this section. "(2) OPERATING LOANS; LOAN GUARANTEES. — "(A) IN GENERAL. —To the extent that an applicant whose application is approved under subsection (d) is unable to obtain sufficient credit from commercial or cooperative lenders to finance the operation described in the application at reasonable rates and terms (taking into consideration prevailing private and cooperative rates, and terms in the community in which the operation is (or is to be) located, for loans for similar purposes and periods of time), the Secretary shall, subject to the availability of funds and to subsections (f) and (g) and consistent with sections 360 and 362, make a conditional commitment to the applicant for each of the years of the commitment period— "(i) to provide to any commercial or cooperative lender who makes a loan to the applicant that is within the credit needs of the operation (as specified in the plan contained in the application) a guarantee under section 309(h) for the repayment of 90 percent of the loan principal and interest; (iiXD to provide to any commercial or cooperative lender who makes a loan to the applicant that is within
 * (e) PROVISION OF ASSISTANCE. —

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