Loan terms shall include, but not be limited to, the following:

(1) The term of the loan shall not exceed the lesser of thirty years or the projected useful life of the project;

(2) The interest rate shall be at or below market interest rates;

(3) The annual principal and interest payment shall commence not later than one year after completion of any project and all loans shall be fully amortized not later than the loan term after the date of completion of the project; and

(4) The loan recipient shall immediately repay any loan when a grant has been received which covers costs provided for by such loan.