5 Simple Techniques For 2423 loan
5 Simple Techniques For 2423 loan
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The Secretary may well waive any of the standards in subsection (a)(two) that the Secretary determines to get duplicative or rendered pointless on account of an motion previously taken by America.
By such day as may be specified in the loan guarantee or associated agreements, the Secretary shall spend for the holder from the loan guarantee the unpaid interest on, and unpaid principal of, the obligation with regard to which the borrower has defaulted, Except the Secretary finds that there was not default via the borrower inside the payment of interest or principal or that the default has been remedied.
(i) incidental noncommercial livestock watering and noncommercial irrigation of vegetation and tiny gardens of lower than 1 acre; and
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(I) whether or not the non-Federal challenge entity has the capability to pay for 100 percent of The prices related to the functions, upkeep, and substitution of the facilities built or formulated as A part of The agricultural drinking water source job; and
The Secretary shall acquire and publish from the Federal Sign up criteria for identifying the eligibility of a project for economic guidance under area 2423 of the title.
An obligation shall be topic on the issue the obligation just isn't subordinate to other funding.
(III) an evaluation of the monetary capability of every non-Federal entity taking part in The agricultural drinking water supply challenge to pay the allotted once-a-year operation, servicing, and substitute costs for the rural drinking water source job;
A rural drinking water source project that is determined being possible under area 2405 of the title is suitable for any loan ensure below area 2423 of this title.
Nothing In this particular subsection precludes any forbearance because of the holder with the obligation for the good thing about the non-Federal borrower that may be agreed on through the parties for the obligation and permitted with the Secretary.
(b) Phrases and limits (one) Generally Loan assures underneath this segment for just a job shall be on such stipulations and contain this sort of covenants, representations, warranties, and necessities as the Secretary decides to become acceptable to shield the monetary passions of the United States.
The Secretary shall establish and publish within the Federal Sign up standards for analyzing more info the eligibility of the task for money aid less than part 2423 of this title.
(A) make certain that the proposed rural drinking water provide task doesn't copy a project carried out beneath the authority of your agency head; and
(fifteen) in the situation of a task supposed for Indian tribes and tribal businesses, the extent to which the undertaking addresses the purpose of economic self-sufficiency.