§ 1980.118 - Issuance of Lender's Agreement, Loan Note Guarantee, Contract of Guarantee, and Assignment Guarantee Agreement.

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(a) See § 1980.61 of subpart A of this part.

(b) A guaranteed portion of the loan may not be sold by the lender until the loan has been fully disbursed to the borrower. The guaranteed portion of a line of credit will never be sold or assigned by the lender except as provided in part III of Form FmHA or its successor agency under Public Law 103-354 1980-38.

(c) Each Loan Note Guarantee issued will contain the statement “This Loan Note Guarantee is issued under the Lender's Agreement dated ____.” The date will be the same date entered in Part IV of Form FmHA or its successor agency under Public Law 103-354 1980-38.

(d) Each Contract of Guarantee issued will contain the statement “This Contract of Guarantee is issued under Lender's Agreement dated ____.” The date will be the same date entered in Part IV of Form FmHA or its successor agency under Public Law 103-354 1980-38.

                    
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