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70 FR 41303, July 18, 2005, unless otherwise noted.
72 FR 29843, May 30, 2007, unless otherwise noted.
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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.