(a) in addition to the provisions of paragraph (c), a lender who contravenes this Section or causes undue delays in processing a credit application beyond the expiry date of the contract, is liable to the borrower for a penalty in an amount that does not exceed the actual damage suffered by the borrower, including the present value of interest costs increased over the normal term of the loan; or the specific performance of the contract. This paragraph shall apply to an agreement concluded after 1 January 1987. (c) A lender who violates subdivision 4 is jointly and severally liable for the specific performance of the contract or for a fine of $500 or an amount that does not exceed out of its own pocket the actual damage suffered by the borrower, including the present value of the increased costs during the normal term of the loan, whichever is greater, by virtue of the borrower`s confidence in the lender`s oral representation. For the purposes of this section, “Posting” includes a list or template of mortgage terms based on information provided by the lender or broker, with or without charge to the lender or broker, by a newspaper, and also includes advertisements on the Internet. (d) “interest rate or discount rate agreement” or “agreement” means a contract between a lender and a borrower in which the lender agrees to grant a loan at an interest rate or at a number of discount points or both, subject to the terms of subscription and approval of the lender, and the borrower agrees to grant a loan on those terms. The term also includes an offer from a lender accepted by a borrower in which the lender promises to guarantee or lock in an interest rate or the number of discount points or both for a set period of time. An oral or written statement of current credit terms, including interest rates and the number of discount points, is not an offer or inducement from a lender to enter into an agreement. A written statement of the current credit terms must be accompanied by an exclusion of liability that the statement is not an offer to enter into a contract and that an offer can only be made in accordance with subdivisions 3 and 4. . .