{"data":{"id":"us/12-cfr-1808.611","jurisdiction":"us","citation":"12 CFR 1808.611","heading":"Covenants of Eligible CDFI with respect to Bond and each Bond Loan.","body":"The Eligible CDFI shall covenant in the Bond Loan agreement that it will:\n(a) Furnish to the Qualified Issuer, at the Eligible CDFI's expense, certain annual and periodic financial and performance reporting;\n(b) Maintain books and records related to the Bond Loan and Secondary Loans, the collateral and the project that is to be financed by Bond Loan proceeds, and allow inspection thereof;\n(c) Preserve its corporate existence and Certified CDFI status;\n(d) Comply with all laws to which it is subject;\n(e) Maintain insurance, as required by the Qualified Issuer, against such risks as would customarily be maintained by commercially reasonable companies in a similar line of business;\n(f) Pay and discharge all Federal, State and local taxes;\n(g) Ensure proper use of proceeds of the Bond Loan;\n(h) Pay all required administrative expenses;\n(i) Indemnify the Guarantor, the CDFI Fund, the Qualified Issuer and the Master Servicer/Trustee and their Affiliates;\n(j) Collaterally assign all rights, title, and interest in and to Secondary Loan collateral to the Master Servicer/Trustee;\n(k) Maintain the collateral;\n(l) Enforce the covenants against the Secondary Borrowers;\n(m) Be bound, to the extent applicable, to provisions of the Bond Trust Indenture;\n(n) Periodically, as directed by the CDFI Fund, furnish certain information designed to measure the impacts of the Bond Loan and the CDFI Bond Guarantee Program;\n(o) Periodically, as directed by the CDFI Fund, furnish to the Qualified Issuer and/or the CDFI Fund updates to the Capital Distribution Plan; and\n(p) Comply with all other representations and warranties set forth in the Bond Loan documents.","path":["Title 12—Banks and Banking","CHAPTER XVIII—COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND, DEPARTMENT OF THE TREASURY","PART 1808—COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS BOND GUARANTEE PROGRAM","Subpart F—Terms and Conditions of Guarantee"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-12.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:16Z","sha256":"91a106bf042c1460a072401e459de1d6823218dc948d46f09294882ece2959df","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-1808.610","next":"us/12-cfr-1808.612"},"notice":"GroundRules: Original legal text. Not legal advice."}