---
kind: "section"
citation: "7 C.F.R. § 1738.253"
title: "7"
number: "1738.253"
heading: "Servicing of loan and loan/grant combinations."
url: "https://uscodex.org/cfr/7/1738.253"
---

# §1738.253. Servicing of loan and loan/grant combinations.

- (a) Borrowers must make payments on the broadband loan as required in the note.
- (b) Awardees must comply with all terms, conditions, affirmative covenants, and negative covenants contained in the Award documents.
- (c) **In the event of default of any required payment or other term or condition—**
  - (1) The Agency may exercise the default remedies provided in the Award documents and any remedy permitted by law but is not required to do so.
  - (2) If the Agency chooses not to exercise its default remedies, it does not waive its right to do so in the future.

## Notes

### Authority

Authority: 7 U.S.C. 901 et seq.

### Source

Source: 85 FR 14398, Mar. 12, 2020, unless otherwise noted.