Streamline - Summer 2017 - 31

construction period provided to you
by your engineer.
* Ask the lender to provide a quote
on the interest rate as to whether it
will fixed or variable. If variable, the
lender should state how often it will
reset and the index to which the interest rate will be set. Also ask them to
state clearly whether or not there will
be any prepayment penalties.
* Ask the lender to spell out whether
72:1RI25$1*(
the loan will be secured or unse&RQVXOWLQJ(QJLQHHUV
cured and have the lender outline
:,/(<	:,/621,1&
legal documents necessary for loan
7KUHH*DOORQ&ODULILHUV
closing. Note that some lenders may
require a "take-out" letter from Rural
Development. Rural Development
can only provide this letter when you
have met all the requirements of the
Letter of Conditions, including the
52$12.(&2817<
submission of final plans and speci38%/,&6&+22/6
fications, draft bond documents, and

&RQVXOWLQJ(QJLQHHUV
the legal documentation associated
*$<	1((/,1&
with land and rights acquisition. If
you are looking for funds to finance
the engineering fees, you may have
to obtain a loan separate from your
interim construction loan.
*DOORQ)LUH3URWHFWLRQ7DQN
* Have the lender provide you with
their method of obtaining draws on
the loan. This information is helpful
+,*+48$/,7</21*/,)(
for you to assess whether or not they
have a proper understanding of the
9,578$//<0$,17(1$1&()5((
draw process.
Once you have received the RFP,
it is suggested that you get with legal
and/or bond counsel to assess the legal
7+.&'451(#6'4#0&#56'9#6'4#0-5
FINTTGJ		
	
	X
GFJNK
requirements associated with the pro	UjGIFkGKFgGHGJ
UjGIFkGKFgJFNM999T%41/%142T%1/
posals and the costs involved. It may
be that the lowest interest rate proposal
may not be in your best interest if there848376_TheCrom.indd 1
12/13/16 10:55 PM
are considerable costs associated with
the legal requirements of loan closing.
Once you have selected your interim
lender, please summarize the procurement process and send it to your Rural
Development loan officer.

&52035(675(66('
&21&5(7(7$1.6

Please contact me by telephone at
804.287.1557 or by e-mail at kent.
ware@va.usda.gov. You may also contact your local Rural Development loan
officer if you should have any questions.
748932_EnviroCompliance.indd 1

w w w . v r w a . o22/05/15
r g 31
7:55 PM


http://www.cromcorp.com http://www.cromcorp.com http://www.envirocompliance.com http://www.envirocompliance.com http://www.vrwa.org

Table of Contents for the Digital Edition of Streamline - Summer 2017

From the President: 2017 Legislative Efforts
From the Executive Director: Give Us Another Drum Roll Please…
2017 VRWA Conference Highlights
Locating Plastic Pipe
The Value of VRWA
Portable Ladder Safety
The Chesapeake Bay
These Boots Are Made For...What?
RUS-Funded Projects: New Requirements
SOPs: The First Step to Sustainable Utilities
Throwing My Loop: The Horse Trailer with the Broken Heart (Part Two)
VRWA Member Corner
eLearning Benefits
Membership Application
Benefits for VRWA Members
Board of Directors
VRWA Committees
Index to Advertisers/Ad.com
Streamline - Summer 2017 - Intro
Streamline - Summer 2017 - cover1
Streamline - Summer 2017 - cover2
Streamline - Summer 2017 - 3
Streamline - Summer 2017 - 4
Streamline - Summer 2017 - 5
Streamline - Summer 2017 - 6
Streamline - Summer 2017 - 7
Streamline - Summer 2017 - 8
Streamline - Summer 2017 - From the President: 2017 Legislative Efforts
Streamline - Summer 2017 - 10
Streamline - Summer 2017 - From the Executive Director: Give Us Another Drum Roll Please…
Streamline - Summer 2017 - 2017 VRWA Conference Highlights
Streamline - Summer 2017 - 13
Streamline - Summer 2017 - 14
Streamline - Summer 2017 - 15
Streamline - Summer 2017 - 16
Streamline - Summer 2017 - 17
Streamline - Summer 2017 - 18
Streamline - Summer 2017 - 19
Streamline - Summer 2017 - 20
Streamline - Summer 2017 - 21
Streamline - Summer 2017 - Locating Plastic Pipe
Streamline - Summer 2017 - 23
Streamline - Summer 2017 - 24
Streamline - Summer 2017 - The Value of VRWA
Streamline - Summer 2017 - Portable Ladder Safety
Streamline - Summer 2017 - The Chesapeake Bay
Streamline - Summer 2017 - These Boots Are Made For...What?
Streamline - Summer 2017 - 29
Streamline - Summer 2017 - RUS-Funded Projects: New Requirements
Streamline - Summer 2017 - 31
Streamline - Summer 2017 - SOPs: The First Step to Sustainable Utilities
Streamline - Summer 2017 - 33
Streamline - Summer 2017 - 34
Streamline - Summer 2017 - Throwing My Loop: The Horse Trailer with the Broken Heart (Part Two)
Streamline - Summer 2017 - 36
Streamline - Summer 2017 - VRWA Member Corner
Streamline - Summer 2017 - 38
Streamline - Summer 2017 - eLearning Benefits
Streamline - Summer 2017 - Membership Application
Streamline - Summer 2017 - Benefits for VRWA Members
Streamline - Summer 2017 - 42
Streamline - Summer 2017 - VRWA Committees
Streamline - Summer 2017 - 44
Streamline - Summer 2017 - Index to Advertisers/Ad.com
Streamline - Summer 2017 - 46
Streamline - Summer 2017 - cover3
Streamline - Summer 2017 - cover4
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http://www.nxtbook.com/naylor/VRWQ/VRWQ0313
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http://www.nxtbook.com/nxtbooks/naylor/VRWQ0113
http://www.nxtbook.com/nxtbooks/naylor/VRWQ0412
http://www.nxtbook.com/nxtbooks/naylor/VRWQ0312
http://www.nxtbook.com/nxtbooks/naylor/VRWQ0212
http://www.nxtbook.com/nxtbooks/naylor/VRWQ0112
http://www.nxtbook.com/nxtbooks/naylor/VRWQ0411
http://www.nxtbook.com/nxtbooks/naylor/VRWQ0311
http://www.nxtbook.com/nxtbooks/naylor/VRWQ0211
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