{"data":{"id":"us/7-cfr-4280.48","jurisdiction":"us","citation":"7 CFR 4280.48","heading":"Post selection period.","body":"Rural Development will notify the Intermediary in writing if the application is selected. The documents to be executed by the Intermediary will include:\n(a) For a loan:\n(1) A Letter of Conditions with Project-specific terms and conditions;\n(2) A loan agreement with general terms and conditions;\n(3) A note covering the repayment terms of the loan; and\n(4) A legal opinion concerning the authority of the Intermediary to engage in the Project.\n(b) For a Grant:\n(1) A Letter of Conditions with Project-specific terms and conditions;\n(2) A Grant agreement with general terms and conditions; and\n(3) A legal opinion concerning the authority of the Intermediary to participate in the Revolving Loan Fund and to engage in the Project.","path":["Title 7—Agriculture","Subtitle B—Regulations of the Department of Agriculture","CHAPTER XLII—RURAL BUSINESS-COOPERATIVE SERVICE, DEPARTMENT OF AGRICULTURE","PART 4280—LOANS AND GRANTS","Subpart A—Rural Economic Development Loan and Grant Programs"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-7.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:01Z","sha256":"9dd15c7800e89bc5de845375bdf01a1675d4e24d24bd8a0479fc5b1d50f4298f","source_id":"us-cfr","stale":true,"prev":"us/7-cfr-4280.47","next":"us/7-cfr-4280.49"},"notice":"GroundRules: Original legal text. Not legal advice."}