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Code of Federal Regulations (Last Updated: November 8, 2024) |
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Title 7 - Agriculture |
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Subtitle B - Regulations of the Department of Agriculture |
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Chapter XXXV - Rural Housing Service, Department of Agriculture |
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Part 3575 - General |
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Subpart A - Community Programs Guaranteed Loans |
§ 3575.96 - Termination of Loan Note Guarantee.
Latest version.
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§ 3575.96 Termination of Loan Note Guarantee.
The Loan Note Guarantee under this subpart will terminate automatically:
(a) Upon full payment of the guaranteed loan; or
(b) Upon full payment of any loss obligation or negotiated loss settlement except for future recovery provisions; or
(c) Upon written request from the lender to the Agency, provided that the lender holds all of the guaranteed portion and the original Loan Note Guarantee is returned to the Agency.