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Code of Federal Regulations (Last Updated: May 6, 2024) |
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Title 7 - Agriculture |
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Subtitle B - Regulations of the Department of Agriculture |
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Chapter XLII - Rural Business-Cooperative Service and Rural Utilities Service, Department of Agriculture |
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Part 4280 - Loans and Grants |
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Subpart A - Rural Economic Development Loan and Grant Programs |
§ 4280.48 - Post selection period.
Latest version.
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§ 4280.48 Post selection period.
Rural Development will notify the Intermediary in writing if the application is selected. The documents to be executed by the Intermediary will include:
(a) For a loan:
(1) A Letter of Conditions with Project-specific terms and conditions;
(2) A loan agreement with general terms and conditions;
(3) A note covering the repayment terms of the loan; and
(4) A legal opinion concerning the authority of the Intermediary to engage in the Project.
(b) For a Grant:
(1) A Letter of Conditions with Project-specific terms and conditions;
(2) A Grant agreement with general terms and conditions; and
(3) A legal opinion concerning the authority of the Intermediary to participate in the Revolving Loan Fund and to engage in the Project.