[Code of Federal Regulations]
[Title 13, Volume 1]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 13CFR314.8]

[Page 640-641]
 
                TITLE 13--BUSINESS CREDIT AND ASSISTANCE
 
CHAPTER III--ECONOMIC DEVELOPMENT ADMINISTRATION, DEPARTMENT OF COMMERCE
 
PART 314_PROPERTY--Table of Contents
 
                         Subpart B_Real Property
 
Sec.  314.8  Recorded statement.

    (a) For all Projects involving the acquisition, construction or 
improvement of a building, as determined by EDA, the Recipient shall 
execute a lien, covenant or other statement of EDA's interest in the 
Property acquired or improved in whole or in part with the EDA 
Investment Assistance. The statement shall specify the Estimated Useful 
Life of the Project and shall include, but not be limited to, the 
Disposition, encumbrance and Federal Share requirements. The statement 
shall be satisfactory in form and substance to EDA.

[[Page 641]]

    (b) The statement of EDA's interest must be perfected and placed of 
record in the Real Property records of the jurisdiction in which the 
Real Property is located, all in accordance with applicable law.
    (c) Facilities in which the EDA Investment is only a small part of a 
large project, as determined by EDA, may be exempted from the 
requirements of this section.