Montana § 85-20-1006 Terms And Conditions Of Loan

Montana Statutes

§ 85-20-1006 — Terms And Conditions Of Loan

Montana § 85-20-1006

Title 85WATER USE

Ch. 20WATER COMPACTS

Part 10Fort Belknap-Montana Compact

This text of Montana § 85-20-1006 (Terms And Conditions Of Loan) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 85-20-1006 (2026).

Text

85-20-1006 . Terms and conditions of loan. A Milk River watershed improvement trusts loan is subject to the following terms and conditions:

(1)Except for loan agreements with an Indian tribe, the DNRC shall obtain a security interest in real estate that would be obtained by a reasonable, careful, and prudent lender.

(2)A current appraisal of real estate offered as security and a commitment for title insurance on that land must be secured by the borrower at the borrower's expense. All costs incident to the loan and loan closing must be paid by the borrower.

(3)For a loan agreement with an Indian tribe, security must be pursuant to the appropriate federal authority to secure a loan on trust land, and with an allottee, security must be pursuant to 25 U.S.C. 483A.

(4)The term of the loan m

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85-20-1006 . Terms and conditions of loan. A Milk River watershed improvement trusts loan is subject to the following terms and conditions:
(1) Except for loan agreements with an Indian tribe, the DNRC shall obtain a security interest in real estate that would be obtained by a reasonable, careful, and prudent lender.
(2) A current appraisal of real estate offered as security and a commitment for title insurance on that land must be secured by the borrower at the borrower's expense. All costs incident to the loan and loan closing must be paid by the borrower.
(3) For a loan agreement with an Indian tribe, security must be pursuant to the appropriate federal authority to secure a loan on trust land, and with an allottee, security must be pursuant to 25 U.S.C. 483A.
(4) The term of the loan may not be greater than the life of the project and may not exceed 30 years.