CFR > Title 7 - Agriculture > SUBTITLE B—Regulations of the Department of Agriculture > CHAPTER XLII—RURAL BUSINESS-COOPERATIVE SERVICE AND RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE (parts 4274 to 4290) > PART 4280—LOANS AND GRANTS > SUBPART A—Rural Economic Development Loan and Grant Programs (§4280.1 to §4280.100) > 4280.48—Post selection period.

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.