If a borrower disposes of chattel security without Agency approval, or misuses proceeds, the borrower must:
Make restitution to the Agency within 30 days of Agency notification; or
Provide disposition or use information to enable the Agency to consider post-approval within 30 days of Agency notification.
Failure to cure the first unauthorized disposition in accordance with paragraph (a) of this section, or a second unauthorized disposition, whether or not cured, constitutes a non-monetary default, will be considered by the Agency when making eligibility determinations for future requests for assistance, may adversely impact such requests, and may result in civil or criminal action.
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