The Department may participate with a lender to collectively lend money for the construction of net-zero and low-energy homes by: Making loans on a project, including subordinate loans; Pooling loan funds; Entering into loan participation agreements; and Purchasing a loan or an interest in a loan. A lender shall submit an application, in the form prescribed by the Department, which shall contain a complete project description, credit package, and any other documentation required by the Department. The Department’s review and approval of an application shall follow the procedures in Regulation .08 of this chapter. The Department shall enter into an agreement with a lender with whom it has agreed to collectively lend money to a borrower on a project. Each agreement to collectively lend on a project shall specify: Timing of loan repayments; Rate of return for the lender and the Department; Risk of loss attributed to the lender and Department in the event of default; and Any other terms the lender and Department require.