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.