(b)
Loan agreements; required terms; additional terms and conditions
Loans under this section shall be made pursuant to loan agreements which shall provide for the following terms:
(1)
The loan shall not bear any interest except as otherwise provided under paragraph (5).
(2)
The loan shall have a maturity period of not more than 20 years (as determined by the Secretary) and shall be repayable during such period at such times and in such amounts as the Secretary may specify in the loan agreement.
(3)
Repayment of the loan shall be made to the Secretary of the Treasury for deposit in the general fund of the Treasury.
Such loans shall be subject to such other terms and conditions as the Secretary may establish for the protection of the financial interest of the United States and in furtherance of the purposes of this chapter.
(d)
Reporting requirements for Secretary
During each of the three calendar years after 1980, the Secretary shall submit before February 1 of such year a report to the appropriate committees of the House of Representatives and the Senate, which shall—
(1)
describe the number of loans made in the preceding calendar year and specify each applicant for and recipient of a loan;
(2)
describe the nature of the asbestos problem of each applicant;
(3)
describe the types of programs for which loans were made;
(4)
specify the estimated total costs of such programs to the recipients of loans and specify the amount of loans made under the Loan Program; and
(5)
specify the number of loan applications which were disapproved during the preceding calendar year and describe the reasons for such disapprovals.