; and (C) absent fraud or material misrepresentation by the holder and the lender, the guarantee is presumed to be valid, legal, and enforceable. (g) Payment of losses (1) In general If, as a result of a default by a borrower under a loan guaranteed under this section, and after the holder of the loan has made collection efforts and instituted enforcement proceedings as the Administrator may require, the Administrator determines that the holder of the loan has suffered a loss, the Administrator shall pay to such holder the percentage of such loss specified in the guarantee contract. Upon making any such payment, the Administrator shall be subrogated to all the rights of the recipient of the payment. The Administrator shall be entitled to recover from the borrower the amount of any payments made to the holder of the loan under this paragraph. (2) Forbearance Nothing in this section may be construed to preclude any forbearance for the benefit of the borrower which may be agreed upon by the parties to the guaranteed loan and approved by the Administrator, if budget authority for any resulting subsidy costs (as defined in section 502(5) of the Federal Credit Reform Act of 1990) is available. (3) Management of property Notwithstanding any other provision of law relating to the acquisition, handling, or disposal of property by the United States, the Administrator may complete, recondition, reconstruct, renovate, repair, maintain, operate, or sell any property acquired by the Administrator pursuant to this section. (h) Sunset of authority The authority of the Administrator to make new loan guarantees under this section shall terminate after the end of the 5-year period beginning on the date of the enactment of this section. . (b) Effective date The amendments made by subsection (a) shall take effect on the date that is 30 days after the date on which the Small Business Development Center Cyber Strategy developed under section 1841(a) of the National Defense Authorization Act for Fiscal Year 2017 ( Public Law 114–328