Before the FTA issues any Pool Certificate, the Pool Assembler must deliver to it the following documents:

1. (a) A properly completed Pool application form;

2. (b) Either:

   1. (1) Individual Certificates evidencing the guaranteed portions comprising the Pool; or
   2. (2) An executed SPGA and related documentation for the loans whose guaranteed portions are to be part of the Pool; and
3. (c) Any other documentation which SBA may require.