Title.

CFR · 2024-01-01 · US · Title 13

(a) (b) (i) Liens; (ii) Mortgages; (iii) Reservations; (iv) Reversionary interests; and (v) Other restrictions on title or on the Recipient's interest in the Property. (2) No encumbrance will be acceptable if, as determined by EDA, the encumbrance interferes with the construction, use, operation or maintenance of the Project during its Estimated Useful Life. (c) (1) (i) The Recipient provides EDA with reasonable assurances that it will obtain fee title to the Real Property prior to or concurrent with the initial disbursement of the Investment Assistance; and (ii) EDA, in its sole discretion, determines that the terms and conditions of the purchase agreement adequately safeguard the Federal Government's interest in the Project Real Property. (2) (i) Fee title to the Real Property is not otherwise obtainable; and (ii) EDA, in its sole discretion, determines that the terms and conditions of the lease adequately safeguard the Federal government's interest in the Real Property and demonstrate the economic development and public benefits of the leasehold transaction. (3) (4) (i) All EDA-funded construction is completed in accordance with EDA requirements; (ii) The Recipient confirms in writing to EDA, satisfactory to EDA, that: (A) The Recipient is committed during the Estimated Useful Life of the Project to operate, maintain and repair all improvements for the Project consistent with the Investment Assistance; and (B) If at any time during the Estimated Useful Life of the Project

official document · source cfr-2024 · id 13:§ 314.7