7 CFR § 4280.48 - Post selection period.

---
identifier: "/us/cfr/t7/s4280.48"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "7 CFR § 4280.48 - Post selection period."
title_number: 7
title_name: "Agriculture"
section_number: "4280.48"
section_name: "Post selection period."
chapter_name: "RURAL BUSINESS-COOPERATIVE SERVICE, DEPARTMENT OF AGRICULTURE"
part_number: "4280"
part_name: "LOANS AND GRANTS"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "7 U.S.C. 1989(a), 7 U.S.C. 2008s."
regulatory_source: "70 FR 41303, July 18, 2005, unless otherwise noted."
cfr_part: "4280"
---


# 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.