Request for Release of Lien and/or Approval Sale

Instructions for RUS Form 793

Request for Release of Lien and/or Approval of Sale

This form is used for Telecommunications Borrowers when requesting the sale of capital assets to report the specifics of the sale and submit supporting documentation. Details of the use of RUS Form 793 and instructions for submitting supporting documents is covered in RUS Bulletin 415-1, “Sale of Property by Telephone Borrowers.”

Fld Name / Item No.	Instruction
Date of this request; Item 1:	Enter date form is being completed.
Closing Date; Item 2	Enter the date of the sale closing.
System Designation of Seller; Item 3	Enter the 6-digit RUS Borrower designation of the Seller.
System Designation of Purchaser; Item 4	If the Purchaser is a RUS Borrower, enter the 6-digit RUS Borrower Designation; If not, leave item blank.
Name and Address of Seller; Item 5	Enter the legal company name of the seller and mailing address.
Name and Address of Purchaser; Item 6	Enter the legal company name of the purchaser and mailing address.
Approximate Original Cost; Item 7	Enter the original cost of the property or asset to be sold.
Source of Funds; Item 8	Enter the source of funds for original purchase of property or asset to be sold.
Date Bought or Built; Item 9	Enter the date that the asset to be sold was purchased or constructed.
Proposed Selling Price; Item 10	Enter the proposed sale price of the property or asset to be sold.
Description of Property to be Sold; Item 11	Enter the description of the property or asset to be sold and estimate the present value. If property is real estate, the description must correspond with the legal description to be used in the deed.
Formal Release of Lien (is) or (is not) Required by Purchaser; Item 12	Check the appropriate box as to whether a formal release of lien is required by the Purchaser.
Reason for Sale; Item 13	Enter the reason sale of property or asset is necessary.
Disposition of Net Proceeds of Sale; Item 14	Enter the proposed disposition of the net proceeds of the sale, including (a) the amount to be used for RUS approved purposes; (b) the amount to be applied to RUS Loan, and/or; (c) other amounts, and, if applicable; (d) the amount of note(s) to be assumed.
Certification	Enter the Seller’s legal, Corporate name and title of Authorized Official with the signature of the authorized official; Submit the original and two certified copies of the resolution adopted by the by the Directors, Shareholders or Authorizing Members if such authorization is required.