; (ii) annual principal and interest payments will commence not later than 1 year after completion of any project and all loans will be fully amortized— (I) not later than 20 years after the date on which the project is completed; or (II) for projects in a low-income geographic area, not later than 30 years after the date on which the projects is completed and not longer than the expected design life of the project; (iii) the local government receiving a loan establishes a dedicated source of revenue for repayment of the loan; (iv) the local government receiving a loan has a hazard mitigation plan that has been approved by the Administrator; and (v) the entity loan fund will be credited with all payments of principal and interest on all loans; (B) for mitigation planning, not to exceed 10 percent of the capitalization grants made to the participating entity in a fiscal year; (C) for the reasonable costs of administering the fund and conducting activities under this section, except that such amounts shall not exceed $100,000 per year, 2 percent of the capitalization grants made to the participating entity in a fiscal year, or 1 percent of the value of the entity loan fund, whichever amount is greatest, plus the amount of any fees collected by the entity for such purpose regardless of the source; and (D) to earn interest on the entity loan fund. (2) Prohibition on determination that loan is a duplication In carrying out this section, Administrator may not determine that a loan is a duplication of assistance or a duplication of programs. (3) Projects and activities eligible for assistance Except as provided in this subsection, a participating entity may use funds in the entity loan fund to provide financial assistance for projects or activities that mitigate the impacts of hazards, including— (A) drought and prolonged episodes of intense heat; (B) severe storms, including tornados, wind storms, cyclones, and severe winter storms; (C) wildfires; (D) earthquakes; (E) flooding; (F) storm surges