California · Water Code
WAT §12894.5: Annual payments on the loan, including both principal repayment and interest, shall be in substantially equal amounts over the term of the loan, excluding the initial deferment, if any.
What this law says, in plain English
Loan annual payments must be substantially equal over the loan term, excluding any initial deferment period.
Read the full statutory text
Annual payments on the loan, including both principal repayment and interest, shall be in substantially equal amounts over the term of the loan, excluding the initial deferment, if any.
Verify at the official source: California legislative text
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