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D. Applicant Authorization of Confidential Disclosure. <br /> <br />2. Review of Loan Applications <br /> <br /> Within five (5) days of receipt of Loan Application Package, <br />Bank shall review the Loan Application Package and forward to the <br />Locality, in addition to the applicant, a written notice indicating <br />either the Bank's approval or disapproval of the loan application. <br />The information contained in the Loan Package and in the Bank's <br />written notice shall be held by the Locality as a priviledged and <br />confidential document and not as a public record. <br /> <br /> Locality warrants that Bank shall be held harmless from any <br />acts of Locality's employees ~n the course of the loan process, <br />that may be in violation of State and/or Federal credit granting <br />statutes and regulations. Locality employees shall not express <br />credit worthiness opinions to applicants. <br /> <br />3. Loan Provisions <br /> <br />Bank agrees to promptly make loans for the <br />Livermore-Amador Valley Rehabilitation Program <br />in all cases where loan applications are approved <br />by the Bank and the Locality, according to all <br />applicable laws, regulations and Bank policies <br />and procedures. <br /> <br />The Locality shall subsidize the loan by making <br />a single, "Lump Sum" interest subsidy payment to <br /> <br />III <br /> -2- <br /> <br /> <br />