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Federal Register / Vol. 86, No. 235 / Friday, December 10, 2021 / Rules and Regulations
However, the scheduling of the first full principal and interest payment must commence not more than 3 years from the date of the promissory note and be paid at least annually thereafter.

20. Amend 5001.408 by revising paragraph b to read as follows:
5001.408 Participation or assignment of guaranteed loan.

b Lenders servicing fee to holder.
The assignment guarantee agreement must clearly state the guarantee portion of loan as a percentage and corresponding dollar amount of the guaranteed portion of the guaranteed loan it represents and the lenders servicing fee. The lender cannot charge the Agency a servicing fee and servicing fees are not eligible expenses for loss claim.

21. Amend 5001.451 by revising b3 and e to read as follows:
5001.451

Conditional commitment.

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b
3 Loan agreement requirements to include:
i Repayment terms and amortization provisions of the guaranteed loan;
ii Description of real property collateral, list of other collateral and identification of the lenders lien priority in the collateral;
iii A list of persons and entities guaranteeing payment of the guaranteed loan and their percentage of guarantee;
iv Requirement as to the type and frequency of the financial statements to be required for the duration of the guaranteed loan guarantor statements must be updated at least annually;
v Prohibition against borrower assuming liabilities or obligations of others;
vi Limitations on borrower dividend payments and compensation of officers, owners and members of borrower;
vii Limitations on the purchase and sale of equipment other fixed assets and real estate;
viii Restrictions on mergers, consolidations, or sales of the business, project, or guarantee loan collateral without the concurrence of the lender;
ix Limitations on significant management changes without the concurrence of the lender;
x Maximum debt-to-net worth ratio, when required by the lender or by this part;
xi Minimum debt service coverage ratio, when required by the lender or by this part;

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xii Requirements imposed by the Agency in its conditional commitment;
xiii Agency environmental requirements; and xiii Requirement for the lender and the Agency to have reasonable access to the project and financial records including access for periodic inspections of the project and financial records by a representative of the lender or the Agency; and xiv Requirement for the borrower to provide the lender and the Agency performance information during the term of the guaranteed loan.

e Modification, and expiration of conditional commitment. The conditional commitment issued by the Agency will be effective for a period of one year or sufficient time to complete the guaranteed loan project prior to loan closing. The lender must submit a written request to the Agency to extend the conditional commitment at least 30
days prior to its expiration date and obtain Agency approval for the extension. The Agency will consider this request only if no material adverse changes in the borrower or the borrowers financial condition have occurred since issuance of the conditional commitment. If a conditional commitment expires, the Agency will notify the lender in writing and may de-obligate the funds. Any additions or modifications to conditions stated in the original conditional commitment must be agreed upon between the lender, the borrower, and the Agency.
22. Amend 5001.452 by revising paragraphs b introductory text and b8iiiL2 and adding paragraph b8iiiL3 to read as follows:

5001.452 Loan closing and conditions precedent to issuance of loan note guarantee.

AGENCY:

b Simultaneously with or immediately after the guaranteed loan closing, the lender must provide to the Agency the guarantee fee, and the following forms and documents:

8
iii
L
2 A title opinion or title insurance showing the borrower has good and marketable title to the real property and other collateral and fully addressing all existing mortgages or other lien defects, restrictions or encumbrances. In those cases where there is adequate gap coverage, a title commitment may be acceptable.

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23. Amend 5001.454 by revising paragraph c to read as follows:

5001.454

Guarantee fee.

c Loan note guarantee prior to completion. If the loan note guarantee is issued prior to completion of the projects construction under 5001.205e2, an additional guarantee fee of 0.50 percent will be added.

Subpart FServicing Provisions 24. Amend 5001.513 by revising paragraph e to read as follows:

5001.513

Interest rate changes.

e Variable rate to fixed rate change.
Variable rates can be changed to a fixed rate at the request of the borrower, agreement of the holder, if any, and Agency concurrence.

Justin Maxson, Deputy Under Secretary, Rural Development.
FR Doc. 202126160 Filed 12921; 8:45 am BILLING CODE 341015P

DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration 14 CFR Part 39
Docket No. FAA20210829; Project Identifier MCAI202100189R; Amendment 3921829; AD 20212408
RIN 2120AA64

Airworthiness Directives; Airbus Helicopters Federal Aviation Administration FAA, DOT.
ACTION: Final rule.
The FAA is superseding Airworthiness Directive AD 202104
21, which applies to certain Airbus Helicopters Model EC120B helicopters.
AD 20210421 required an inspection of the attachment bolts of the main rotor MR hub scissors assembly for discrepancies and repair if necessary;
part marking of the attachment bolts of the MR hub scissors assembly; and repetitive inspections of the part marking of the attachment bolts, and repair if necessary. This AD continues to require the actions in AD 202104
21; and also requires part marking of the washer, scissor branch, and mast ring of the corresponding nut side, and repetitive inspections of the additional part markings and repair if necessary; as
SUMMARY:

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10DER1