Rural Development will notify the Intermediary in writing if the application is selected. The documents to be executed by the Intermediary will include:

1. (a) For a loan:

   1. (1) A Letter of Conditions with Project-specific terms and conditions;
   2. (2) A loan agreement with general terms and conditions;
   3. (3) A note covering the repayment terms of the loan; and
   4. (4) A legal opinion concerning the authority of the Intermediary to engage in the Project.

2. (b) For a Grant:

   1. (1) A Letter of Conditions with Project-specific terms and conditions;
   2. (2) A Grant agreement with general terms and conditions; and
   3. (3) A legal opinion concerning the authority of the Intermediary to participate in the Revolving Loan Fund and to engage in the Project.