<?xml version='1.0' encoding='utf-8'?>
<regulation prefix="Regulation" num=".06" citation="COMAR 05.06.02.06" title_num="05" subtitle_num="06" chapter_num="02" heading="Term of Insurance.">
  <paragraph num="A.">
    <text>The Fund may insure a bridge loan having a term longer than the term of the Fund's insurance, but the insurance shall expire on the first to occur of the date which is:</text>
    <paragraph num="(1)">
      <text>One month after the date on which the investor makes the final payment of all scheduled capital contributions to the borrower; or</text>
    </paragraph>
    <paragraph num="(2)">
      <text>Five years after closing of the bridge loan.</text>
    </paragraph>
  </paragraph>
  <paragraph num="B.">
    <text>Insurance of the bridge loan shall terminate on the first to occur of:</text>
    <paragraph num="(1)">
      <text>A change in the terms and conditions of the bridge loan without the prior written approval of the Fund;</text>
    </paragraph>
    <paragraph num="(2)">
      <text>Five business days following the date on which the investor has made the final payment of all scheduled capital contributions to the borrower;</text>
    </paragraph>
    <paragraph num="(3)">
      <text>Thirty business days after the maturity date of the bridge loan, unless extended with the prior written approval of the Fund;</text>
    </paragraph>
    <paragraph num="(4)">
      <text>Repayment in full of the bridge loan;</text>
    </paragraph>
    <paragraph num="(5)">
      <text>Payment in full of any claim; or</text>
    </paragraph>
    <paragraph num="(6)">
      <text>Expiration of the term of the insurance.</text>
    </paragraph>
  </paragraph>
</regulation>