The Chiefs, Area Operations Branches in conformance with applicable regulations and RUS policy are delegated authority to approve or execute for the electric program's distribution borrowers:

(a) The following matters with unpaid and outstanding distribution loans.

(1) Affidavits, certificates, filings, and confirmation statements with respect to the recording, filing or renewing of security instruments, including financing statements under the Uniform Commercial Code of the applicable state.

(2) Municipal and county franchises, licenses, ordinances, and permits to construct or operate facilities obtained by borrowers as required by its security instruments.

(3) Notice of clearance of RUS loan documents.

(b) Matters concerning borrower facilities, organization, or corporate status:

(1) Sales and leases of borrower's capital assets involving transactions in amounts of $500,000 or less, except for facilities subject to power supply surveys or certification by RUS.

(2) Partial releases of lien, associated with sales of a borrower's capital assets, involving transactions in amounts of $500,000 or less.

(3) Approval of large retail power contracts which have not been delegated to the General Field Representatives—Electric.