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The plan allows participants to take a principal residence loan for a term of 15 years or less. The plan only allows one principal residence loan at a time.

A participant requested a principal residence loan for a term of 5 years. The participant has requested the loan term be extended to 10 years (no additional dollars).

Can this be done or would it be considered a separate loan and thus not allowed by the plan.

Thanks and Happy 4th.

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