FSA-2489 Assumption agreement

Form Approved - OMB No. 0560-0236
OMB Expiration Date: 07/31/2020
(See Page 3 for Privacy Act and Paperwork Reduction Act Statements.)
U.S. DEPARTMENT OF AGRICULTURE
Position 2
Farm Service Agency

This form is available electronically.

FSA-2489
(09-03-10)

ASSUMPTION AGREEMENT
PART A - GENERAL
1. Full Case Number of Assuming Party (ST/CO/9 digits SSN/TIN)
-0

-

2A. Type of Loan
OL
Regular

2B. Type of Security
FO

EM
EE
Limited Resource

3A. Transferee Eligibility

SW
Non-Program

CL

Real Estate

3B. Amount of Transfer

(1) Eligible - Same rates and terms
(2) Eligible - New rates and terms
(3) Ineligible transferee

(1) Transfer for full amount of debt
(2) Transfer for less than full
amount of debt

Chattels

3C. Release of Liability
(1) Transferor released from
personal liability
(2) Transferor not released from
personal liability

PART B - AGREEMENT

4. THIS AGREEMENT dated (a)

is between the United States Department of Agriculture,

acting through the Farm Service Agency ("Government,") and (b)
(''assuming parties''), whose address is (c)
5. BECAUSE Government is the holder of loans evidenced by certain debt instruments executed by the present debtor
, case number (b)

(a)

, and identified as follows

in Item 6.
6. DEBT INSTRUMENT DATA
(a)
Fund Code
and Loan Number

(b)
Date Executed

(c)
Original Amount

(d) Unpaid Balance
(1) Principal

(2) Interest

(e)
Interest Rate

In accordance with Federal civil rights law and U.S. Department of Agriculture (USDA) civil rights regulations and policies, the USDA, its Agencies, offices, and employees, and institutions participating in
or administering USDA programs are prohibited from discriminating based on race, color, national origin, religion, sex, gender identity (including gender expression), sexual orientation, disability, age,
marital status, family/parental status, income derived from a public assistance program, political beliefs, or reprisal or retaliation for prior civil rights activity, in any program or activity conducted or funded
by USDA (not all bases apply to all programs). Remedies and complaint filing deadlines vary by program or incident.
Persons with disabilities who require alternative means of communication for program information (e.g., Braille, large print, audiotape, American Sign Language, etc.) should contact the responsible
Agency or USDA’s TARGET Center at (202) 720-2600 (voice and TTY) or contact USDA through the Federal Relay Service at (800) 877-8339. Additionally, program information may be made available in
languages other than English.
To file a program discrimination complaint, complete the USDA Program Discrimination Complaint Form, AD-3027, found online at http://www.ascr.usda.gov/complaint_filing_cust.html and at any USDA
office or write a letter addressed to USDA and provide in the letter all of the information requested in the form. To request a copy of the complaint form, call (866) 632-9992. Submit your completed form or
letter to USDA by: (1) mail: U.S. Department of Agriculture Office of the Assistant Secretary for Civil Rights 1400 Independence Avenue, SW Washington, D.C. 20250-9410; (2) fax: (202) 690-7442; or (3)
email: [email protected]. USDA is an equal opportunity provider, employer, and lender.

Initial: ______

Date: ________

Page 2 of 3
FSA-2489 (09-03-10)
7. BECAUSE in connection with such loans the following-described security instruments were taken on property described

therein and located in (a)
County, State of (b)

, and identified as follows in Item 8.

8. SECURITY INSTRUMENT DATA
(a)
Instrument

(b)
Date Executed

(c)
Office Where Recorded or Filed

(d)
Book, Volume, or Document

(e)
Page

9. THEREFORE, in consideration of the assumption of indebtedness as herein provided, and the Government's consent to such
assumption and to any accompanying conveyance or transfer of security property to the assuming parties, it is agreed as follows:
The assuming parties hereby jointly and severally assume liability for and agree to pay to the order of the Government , the
amounts, and on the dates specified in the following checked block:
A.

THE SUM OF (1)
) , plus INTEREST on the UNPAID PRINCIPAL at the

dollars (2) ($
PERCENT, (4) (

rate of (3)
in (5)

%) PER ANNUM,

installments due and payable as follows in Item 9C.
B.

Of the entire unpaid indebtedness under said debt and security instruments, THE SUM OF (1)
dollars (2) ($

)
PERCENT, (4)

principal, with INTEREST thereon at the rate of (3)

%

PER ANNUM from the date hereof, plus (5)
dollars (6) ($

) accrued interest as of the date hereof, without interest thereon, which accrued interest is

included in the first installment written below in Item 9C.
C. The principal and interest shall be due and payable as follows:
(1)
Installment Amount

and (3) $

(2)
Due Date

thereafter on (4)

(1)
Installment Amount

of each (5)

(2)
Due Date

until the

indebtedness hereby assumed is paid except that the final installment of the entire indebtedness evidenced hereby, if not sooner,
shall be due and payable on or before
(6)
; (7)
years from the date of the original loan being assumed; or,
; (9)

(8)

years from the date of this assumption.

Prepayments of scheduled installments, or any portion of these installments, may be made at any time at the option of the borrower.
Refunds and extra payments shall, after payment of interest, be applied to the last installments to become due under this note and shall
not affect the obligation of the borrower to pay the remaining installments as scheduled in this assumption agreement.
Initial: ______

Date: ________

FSA-2489 (09-03-10)

Page 3 of 3

10. Payments shall be applied in accordance with FSA regulations.
11. If this assumption evidences a limited resource loan, Government may CHANGE THE RATE OF INTEREST in
accordance with the regulations of the Government by giving the borrower thirty (30) days prior written notice at the borrower's last
known address.
12. The provisions of said debt security instruments, and of any outstanding agreements executed or assumed by the present
debtors pertinent thereto, shall except as modified herein, remain in full force and effect, and the assuming parties hereby assume the
obligations of and agree to be bound by and to comply with all covenants, agreements and conditions contained in said instruments
and agreements, except as modified herein, the same as if they had executed them as of the dates thereof as principal obligors. Any
provisions of the debt and security instruments which require (a) that the borrower live on and operate the Government financed farm
or (b) graduate to other sources of credit, will not apply to assumptions by an ineligible transferee.
13. This agreement shall be subject to the present regulations of the Government and its future regulations which are not
inconsistent with the express provisions hereof.
PART C - SIGNATURES
14A. Signature

14B. Date

15A. Signature

15B. Date

16A. Signature

16B. Date

17A. Signature

17B. Date

FSA USE ONLY
18A. Agency Official's Name

18B. Title

18C. Signature

18D. Date

NOTE:

The following is made in accordance with the Privacy Act of 1974 (5 USC 552a - as amended). The authority for requesting the information
identified on this form is the Consolidated Farm and Rural Development Act, as amended (7 U.S.C. 1921 et. seq.). The information will be
used to determine eligibility and feasibility for loans and loan guarantees, and servicing of loans and loan guarantees. The information
collected on this form may be disclosed to other Federal, State, and local government agencies, Tribal agencies, and nongovernmental
entities that have been authorized access to the information by statute or regulation and/or as described in the applicable Routine Uses
identified in the System of Records Notice for USDA/FSA-14, Applicant/Borrower. Providing the requested information is voluntary. However,
failure to furnish the requested information may result in a denial for loans and loan guarantees, and servicing of loans and loan guarantees.
The provisions of criminal and civil fraud, privacy, and other statutes may be applicable to the information provided.
According to the Paperwork Reduction Act of 1995, an agency may not conduct or sponsor, and a person is not required to respond to, a
collection of information unless it displays a valid OMB control number. The valid OMB control number for this information collection is
0560-0236. The time required to complete this information collection is estimated to average 20 minutes per response, including the time for
reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the
collection of information. RETURN THIS COMPLETED FORM TO YOUR COUNTY FSA OFFICE.