Rural Development will notify the Intermediary in writing if the application is selected. The documents to be executed by the Intermediary will include:
For a loan:
A Letter of Conditions with Project-specific terms and conditions;
A loan agreement with general terms and conditions;
A note covering the repayment terms of the loan; and
A legal opinion concerning the authority of the Intermediary to engage in the Project.
For a Grant:
A Letter of Conditions with Project-specific terms and conditions;
A Grant agreement with general terms and conditions; and
A legal opinion concerning the authority of the Intermediary to participate in the Revolving Loan Fund and to engage in the Project.
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