Servicing tasks required of the Lender will include, but are not limited to:
 | Creating and maintaining a loan file for each guaranteed loan. |
1. Create, properly complete, and maintain all loan documents.
2. Keep written records of loan servicing activities including: repayment records, financial reviews, site visits and inspections, and conversations and correspondence with Borrower.
3. Maintain valid and current security including, but not limited to, timely UCC filings, continuous insurance coverage and payment of real estate taxes, if applicable.
| Collecting payments and appropriately applying to principal and interest and other obligations under the Note. |
| Receiving, analyzing, and forwarding to WHEDA financial statements according to the terms of the Loan Authorization. |
| Performing periodic and/or annual site visits of the Borrower's operations. |
| Monitoring inventory and collateral. This includes an annual inspection of the collateral and a report to WHEDA on any adverse change(s) in the collateral. |
| Following up on all loan exceptions (i.e., covenant defaults). |
| Monitoring loan for actual and potential default occurrences. |
| Reviewing and complying with terms of the guaranteed loan documents on a continuous basis. |
