(1) When the fund gives a loan or grant to an entity related to urban development, it must enter into an agreement in writing with the necessary conditions for the protection of its interests and the proper use of the loan or grant provided by it.
(2) When entering into an agreement in accordance with sub-section (1), the fund may set conditions such that the loan can be kept for any period of time, in case of violation of the conditions set by the fund, the borrower can be forced to pay back the principal and interest of the loan, or the borrower can recover from the mortgage, pledge or other property and security given by the borrower.
(3) The Fund may set conditions for providing loans in cash, cheque, promissory note or other similar forms in installments as prescribed by calculating the interest from the date of receipt of installments of the total loan amount to be given to the debtor.