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Board approves agreement with Market Beautiful to bring delinquent loan current
Summary
The Douglas County Revolving Loan Fund Executive Board voted Oct. 10 to approve an agreement with Market Beautiful to bring its delinquent loan current, require paper payments through 2025, add attorney fees to the loan, and keep a Development Association membership for the loan term.
The Douglas County Revolving Loan Fund, Inc. Executive Board voted Oct. 10 to approve an agreement with Market Beautiful that requires the borrower to bring its delinquent account current and continue monthly payments.
The action, moved by Kaci Jo Lundgren, Secretary, and seconded by Amy Tyson, directs the loan servicer to accept payment to bring the loan current, to continue monthly payments via paper check through 2025, and to add attorney fees to the outstanding balance. The approved terms also require Market Beautiful to pay Development Association membership dues separately and to remain a member for at least the term of the loan. The motion carried; Mark Hubbard was recorded absent.
