5.110.040 Loan program eligibility criteria.
(a) A residential customer that has been notified by WSSC by a 30-day leak letter of an active pipe leak may apply for a loan from the loan fund.
(b) An applicant must have no other loan outstanding under the loan program.
(c) The repair shall be performed and certified by a WSSC licensed plumber after receipt of two quotes for the work to be performed.
(d) The applicant shall provide:
(1) The plumber’s license number; and
(2) The plumber’s contact information.
(e)
(1) An applicant shall acknowledge that the loan will require a lien to be placed on the property until the loan is paid off.
(2) The lien may not have priority over an existing mortgage, deed of trust or other security interest in the property.
(f) Loans shall be provided on a first-come, first-served basis.
(g) An applicant shall agree to repay the loan in accordance with the loan repayment schedule.
(h) An applicant shall meet the credit criteria utilized by the administrator.
(i) An applicant is not required to apply for the loan within the time frame in the 30-day leak letter. (Res. 2019-2218)