Section 662.670 Covenant Against Contingent Fees
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Illinois Administrative Code › Title 35 ENVIRONMENTAL PROTECTION SUBTITLE F: PUBLIC WATER SUPPLIES › CHAPTER II: ENVIRONMENTAL PROTECTION AGENCY › Part 662 PROCEDURES FOR ISSUING LOANS FROM THE PUBLIC WATER SUPPLY LOAN PROGRAM › Section 662.670 Covenant Against Contingent Fees
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Section 662.670 Covenant Against Contingent Fees
The loan recipient shall warrant that no person or agency
has been employed or retained to solicit or secure a PWSLP loan upon an
agreement or understanding for a commission, percentage, brokerage, or
contingent fee. For breach or violation of this warranty, the Agency
shall have the right to annul the loan in accordance with Section 662.520 or to
deduct from the loan, or otherwise recover, the full amount of the commission,
percentage, brokerage, or contingent fee.
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