[Code of Federal Regulations]
[Title 7, Volume 15]
[Revised as of January 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR4279.186]

[Page 584]
 
                          TITLE 7--AGRICULTURE
 
  CHAPTER XLII--RURAL BUSINESS-COOPERATIVE SERVICE AND RURAL UTILITIES 
                   SERVICE, DEPARTMENT OF AGRICULTURE
 
PART 4279_GUARANTEED LOANMAKING--Table of Contents
 
                  Subpart B_Business and Industry Loans
 
Sec. 4279.186  Issuance of the guarantee.

    (a) When loan closing plans are established, the lender will notify 
the Agency. Coincident with, or immediately after loan closing, the 
lender will provide the following to the Agency:
    (1) Lender's certifications as required by Sec. 4279.181.
    (2) Executed Lender's Agreement.
    (3) Form FmHA 1980-19, ``Guaranteed Loan Closing Report,'' and 
appropriate guarantee fee.
    (b) When the Agency is satisfied that all conditions for the 
guarantee have been met, the Loan Note Guarantee and the following 
documents, as appropriate, will be issued:
    (1) Assignment Guarantee Agreement. In the event the lender uses the 
single note option and assigns the guaranteed portion of the loan to a 
holder, the lender, holder, and the Agency will execute the Assignment 
Guarantee Agreement; and
    (2) Certificate of Incumbency. If requested by the lender, the 
Agency will provide the lender with a certification on Form 4279-7, 
``Certificate of Incumbency and Signature (Business and Industry),'' of 
the signature and title of the Agency official who signs the Loan Note 
Guarantee, Lender's Agreement, and Assignment Guarantee Agreement.
    (c) The Agency may, at its discretion, request copies of loan 
documents for its file.
    (d) There may be instances when not all of the working capital has 
been disbursed, and it appears practical to disburse the balance over a 
period of time. The State Director, after review of a disbursement plan, 
may amend the Conditional Commitment in accordance with the disbursement 
plan and issue the guarantee.

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