7 CFR 4280.48 - Post selection period.

Regulations last checked for updates: May 18, 2024

Title 7 - Agriculture last revised: Nov 16, 2024

View all text of Subpart A [§ 4280.1 - § 4280.100]

§ 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.

authority: 7 U.S.C. 1989(a), 7 U.S.C. 2008s.

source: 70 FR 41303, July 18, 2005, unless otherwise noted.

cite as: 7 CFR 4280.48