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Usda Loan Resolution Security Agreement

The amount of each loan will normally be multiplied by no less than 1,000 dollars. Processing or authorising agents are authorised to sign the grant agreement on behalf of RUS. For grants supplementing the RUS appropriations, the grant should be closed at the same time as the conclusion of the loan. However, where grant funds are disbursed before the closing of the loan, as provided for in paragraph (d) (1) of this Section, the grant shall be closed no later than the date of delivery of the first advance of the grant. 2. RUS loans which are held for specific purposes, such as the payment of interest, but which are not necessary at the time of closure of the credit, remain at the tax office until they are necessary, unless State law requires that all funds be delivered to the borrower at the time of conclusion. .