; (ii) submit to the Secretary an application at such time, in such manner, and containing such information as the Secretary may require; and (iii) agree to complete buildout of the broadband infrastructure described in the application by not later than 5 years after the initial date on which the application is approved and the initial funds pursuant to that award are received by the applicant. (B) Limitation The Secretary may not provide to an eligible entity that provides telecommunications or broadband service to at least 20 percent of the households in the United States, funds under this section for a fiscal year in excess of 15 percent of the funds made available under subsection (j) for the fiscal year. (2) Eligible projects (A) Grant To be eligible for a grant under this section, a project shall— (i) be carried out in a proposed service territory in which not less than 90 percent of the households are unserved by terrestrial wireline or licensed wireless broadband service speeds of at least 100 Mbps downstream transmission capacity and 20 Mbps upstream transmission capacity, or such higher speed thresholds as the Secretary may determine constitute an unserved rural area pursuant to subsection (e)(2)