[Code of Federal Regulations]
[Title 7, Volume 14]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1965.15]

[Page 331]
 
                          TITLE 7--AGRICULTURE
 
   CHAPTER XVIII--RURAL HOUSING SERVICE, RURAL BUSINESS--COOPERATIVE 
SERVICE, RURAL UTILITIES SERVICE, AND FARM SERVICE AGENCY, DEPARTMENT OF 
                         AGRICULTURE (CONTINUED)
 
PART 1965--REAL PROPERTY--Table of Contents
 
  Subpart A--Servicing of Real Estate Security for Farm Loan Programs 
                    Loans and Certain Note-Only Cases
 
Sec.  1965.15  Subordination of FmHA or its successor agency under Public Law 103-354's lien to the Commodity Credit Corporation's (CCC) security interest taken 
          for loans made for farm storage and drying equipment.

    The CCC makes loans under its Farm Storage and Drying Equipment Loan 
Program for the purchase, construction, erection, remodeling, or 
installment of either farm storage or drying equipment or both and 
requires that any loan at the discretion of the approving committee, be 
secured by a lien on the real estate. When the CCC proposes to make a 
loan to an FmHA or its successor agency under Public Law 103-354 
borrower and requests a subordination of the FmHA or its successor 
agency under Public Law 103-354 real estate lien, the request will be 
handled on an individual case basis under Sec.  1965.12 of this subpart. 
A borrower's request for the FmHA or its successor agency under Public 
Law 103-354's consent to a severance agreement or other similar 
instrument for an item or items to be acquired with a CCC loan will be 
handled under Sec.  1965.19 of this subpart.