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(e) Bank shall make no more thaui one Loan to any borrower(s). (f) Interest on Loans shall accrue at a rate of 100 basis points (1%) in excess of Bank's internal primeTate as annou»ced by Bank on the date Bank issues its commitment to make the Loan. 1.2 Commitment to Purchase Participations. Municipality commits to purchase a participation interest of 50% in each Loan originated by Bank pursuant to this Agreement. This commitment shall be binding so long as the aggregate investment of Municipality in Loads issued through all participating financial institutions at any one time shall not exceed $250,000.00, but Municipality may elect to purchase participations in Loads even though its aggregate investment in Loans shall be at or exceed this maximum. 2. Participation. 2.1 Immediately upon funding any Loan, Bank shall send to Municipality a Participation Certificate setting forth in reasonable detail the date of the Loan note, the original principal amount of the Loan note, the Municipality's 50% investment in the Loan, the Due Date of the Loan, the contract interest rate, and the interest rate at which the Municipality's yield on its interest in the Loan shall be computed (the "Municipality Interest Rate"). The Municipality Interest Rate shall be equal to the internal prime rate of the Bank as of the date the Bank issued its commitment to make the Loan. The Bank shall also provide to the Municipality proof of credit check of applicant, a copy of the loan application, estimates of work to be done and a copy of the current tax statement. 2.2 All payments of principal and interest received by Bank with respect to each Loan shall be applied ratably to the respective interest of the Municipality and Bank. Bank shall promptly pay to the Municipality its share of all amounts received by Bank at any time with respect to each Loan, whether pursuant to safe or 2