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provides interim financing of up to 75% of acquisition price, for up to five years with no exit fee, to experienced developers who wish to renovate or reposition property but are not yet prepared to proceed with construction or permanent financing. Rabobank says that's fair because the association must pay an $800 million exit fee before it can leave the Farm Credit System. Rabobank will pay $600 million to members and the exit fee of around $850 million. |
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