Post award requirements.

CFR · 2024-01-01 · US · Title 7

(a) (b) (c) (1) The ultimate recipient is eligible for the loan; (2) The loan is for eligible purposes; and (3) The loan complies with all applicable laws, regulations, and the intermediary's HPRP loan agreement. (d) (1) All HPRP loan funds received by an intermediary must be deposited into the HPRP revolving loan fund. The intermediary may transfer additional assets into the HPRP revolving loan fund; (2) All cash of the HPRP revolving loan fund must be deposited in a separate bank account or accounts; (3) The HPRP revolving loan fund must be segregated from other financial assets of the intermediary, and no other funds of the intermediary will be commingled with the HPRP revolving loan fund; (4) All moneys deposited in the HPRP revolving loan fund account or accounts will be money from the HPRP revolving loan fund; (5) Loans to ultimate recipients are advanced from the HPRP revolving loan fund; (6) The receivables created by making loans to ultimate recipients, the intermediary's security interest in collateral pledged by ultimate recipients, collections on the receivables, interest, fees, and any other income or assets derived from the operation of the HPRP revolving loan fund are a part of the HPRP revolving loan fund; (7) The portion of the HPRP revolving loan fund consisting of HPRP loan funds may only be used for making loans in accordance with § 769.154. The portion of the HPRP revolving loan fund that consists of revolved funds may be used for debt service reserve, ap

official document · source cfr-2024 · id 7:§ 769.164