Letter of conditions.

(a) If the Agency approves a loan application, the Agency will provide the intermediary with a letter of conditions listing all requirements for the loan. (b) Immediately after reviewing the conditions and requirements in the letter of conditions, the intermediary should complete, sign, and return the form provided by the Agency indicating the intermediary's intent to meet the conditions. (1) If certain conditions cannot be met, the intermediary may propose alternative conditions to the Agency. (2) The Agency loan approval official must concur with any changes made to the initially issued or proposed letter of conditions prior to loan approval. (c) The loan request will be considered withdrawn if the intermediary does not respond within 15 calendar days from the date the letter of conditions was sent.