Usda Loan Resolution Security Agreement

c) grant closure. This section`s “Water or Waste System Grant Agreement” bulletin 1780-12 is concluded and executed in accordance with the requirements of the issuance authorization. The grant is considered to be closed if rus bulletin 1780-12 has been properly executed. Processing or licensing agents have the right to sign the grant agreement on behalf of RUS. For grants that supplement RUS`s lending resources, the grant should be taken out at the same time as the completion date of the loan. However, if the grants are paid prior to the completion of the loan, as provided in paragraph d) (1) of this section, the grant is concluded no later than the delivery date of the first grant advance. (2) The non-necessary RUS loan funds are used as an additional payment on Russian debt, unless the settlement on bonds, resolution or state status requires another provision; and (2) RUS 1780-27, “Loan Resolution (Public Bodies) ” or 1780-28, “Loan Resolution Security Agreement” are adopted by public bodies and other public bodies. These decisions complement other provisions of this section. (4) Payment of project costs. Project costs are controlled by the treatment agency RUS. Invoices are approved by the borrower and, if necessary, by the engineer, and submitted for compliance with the processing agency. Rus`s verification and acceptance of project costs, including construction cost forecasts, does not certify the accuracy of the amounts, quantities reported or the performance of the work under the terms of the agreements or contracts. (d) subsidies.

Rus`s policy is not to provide grants from the Ministry of Finance until they are actually necessary for the applicant. Applications are paid out prior to the payment of the RUS grants. Rus loan funds are paid before Russian grants are paid, unless Form RD 440-22, “Promissory Note (Association or Organization)” is generally used for loans to non-public entities. (1) Several advances. Several advances are only used for loans over $100,000. Advances are only paid when necessary to cover payments requested by the borrower over a 30-day period. 1. The remaining funds may be used for eligible loans or grants, provided that their use does not result in major changes to the facility or facilities and that the purpose of the loan and grant remains unchanged; 1. Intermediate financing of the estimated total amount of loans required during construction is ordered; and (3) Russian subsidies are required before the RUS loan can be concluded.

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