§ 1980.855 - Review of requirements.

(a) Immediately after reviewing the conditions and requirements in Form FmHA or its successor agency under Public Law 103-354 449-14, the lender and borrower should complete and sign the “Acceptance of Conditions,” and return a copy to the FmHA or its successor agency under Public Law 103-354 District Director. If certain conditions cannot be met, the lender and borrower may propose alternate conditions to FmHA or its successor agency under Public Law 103-354.

(b) If the lender indicates in the “Acceptance of Conditions” that it desires to obtain a Loan Note Guarantee (Form FmHA or its successor agency under Public Law 103-354 449-34), and subsequently decides at any time after receiving a conditional commitment that it no longer wants a guarantee, the lender will immediately advise the FmHA or its successor agency under Public Law 103-354 District Director.