[Code of Federal Regulations]

[Title 7, Volume 14]

[Revised as of January 1, 2007]

From the U.S. Government Printing Office via GPO Access

[CITE: 7CFR1965.15]



[Page 296]

 

                          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.