RD 3560-9 Multi Family Housing Interest Credit and Rental Assistan

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USDA
Form RD 3560-9
(Rev. 02-05)

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FORM APPROVED
OMB NO. 0575-0189

MULTIPLE FAMILY HOUSING
INTEREST CREDIT AGREEMENT

Exp. Date: MM/DD/YY

INSTRUCTIONS - TYPE IN CAPITALIZED ELITE TYPE
1.

BORROWER CASE NUMBER

4.

TYPE OF LOAN

7.

EFFECTIVE INTEREST RATE (Section 8 Plan Code Only)

5. EFFECTIVE DATE
OF AGREEMENT

3.

2.

PROJECT NUMBER

6.

INTEREST CREDIT PLAN CODE

8.

REDUCED LOAN
PAYMENT

(MFH Only)

1 -Plan I
2-Plan II
5-Plan II RA

LOAN NUMBER

6-Plan RA
7-Section 8 (1%)
8-Section 8 (2%)

9. SUBSIDY CREDIT

10. This Agreement between the United States of America, acting through the Department of Agriculture, Rural Housing Service
("Government") pursuant to Section 521of the Housing Act of 1949, and
( ''Borrower'') supplements a
in the principal amount of $
interest, dated

percent (

, at
which was drawn in

a single advance

%)

multiple advances.

11. The Government shall compute interest on the borrower's account at the promissory note rate.
12.

Subject to the provisions of this Agreement the Government will credit $
subsidy,
less surcharge/overage, to the borrower's account when each MONTHLY payment is made. The borrower's subsidized payment
shall be $
plus surcharge/overage.

13. Borrower shall submit to the Government, as required by the Government in form prescribed or approved by it, proof of

borrower's income and expenses for the previous calendar year or other designated periods, and any information on the family
size and income of the occupants of the housing financed with the loan evidenced by the note.

14. If the Government should determine that the borrower has defaulted under any terms or conditions of this Agreement, the note,

borrower's related Loan Resolution/Agreement, and supplementary or. related agreements, or any related security instrument, or
violates any program regulations, at its option the Government may suspend or terminate this Agreement as of any specified date
following the default.

15. No credit to the borrower's account provided for in paragraph 12 shall be made following any termination date specified
pursuant to paragraph 14.
16. The Government shall credit the borrower's account, or pay the borrower rental assistance, including periods of default when
determined to be in the Government's best interest, amounts equal to the difference between the payment required in paragraph
12 above and the payment required under a formula. and procedure prescribed by the Government.
17. No terms or conditions of the note or any related security or other instrument shall be affected by this Agreement except as

expressly set forth herein.

18. This Agreement is subject to the present regulations of the Rural Housing Service, and to its future regulations not inconsistent
with the express provisions hereof.
19. Upon request, the borrower will permit representatives of the Government (or other agencies of the Department of Agriculture
authorized by the Department) to inspect and make copies of any records of borrower pertaining to Rural Housing Service loans
and this Agreement.
20. If the borrower has received any excessive credit or payment, in addition to any rights of recovery, the Government may deduct the

amount from any subsequent credit or payment.

21. If the Government should determine that the subsidy is no longer needed for the benefit of the tenants, at its option the Government
may upon written notice suspend, modify, or terminate this agreement as of any specific date.

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A federal agency may not conduct or sponsor, and a person is not required to respond to, nor shall a person be subject to a penalty for failure to comply with a collection of
information subject to the requirements of the Paperwork Reduction Act unless that collection of information displays a currently valid OMB Control Number. The OMB
Control Number for this information collection is 0575-0189. Public reporting for this collection of information is estimated to be approximately 15 minutes per response,
including the time for reviewing instructions, searching existing data sources, gathering, and maintaining the data needed, completing, and reviewing the collection of
information. All responses to this collection of information are voluntary. However, in order to obtain or retain a benefit, the information in this form is required under
Section 515 Rural Rental Housing, which includes Congregate Housing, Group Homes, and Rural Cooperative Housing. Rural Development has no plans to publish
information collected under the provisions of this program. Send comments regarding this burden estimate or any other aspect of this collection of information, including
suggestions for reducing this burden to: Information Collection Clearance Officer, Rural Development Innovation Center, Regulations Management Division at
[email protected]

(CORPORATE SEAL)

(NAME OF BORROWERS)

(SIGNATURE OF ATTESTING OFFICIAL)

(SIGNATURE & TITLE OF EXECUTIVE OFFICIAL)

(P.O. BOX OR STREET ADDRESS)

(TITLE OF ATTESTING OFFICIAL)

(CITY, STATE, AND ZIP CODE)

UNITED STATES OF AMERICA
RURAL HOUSING SERVICE

By

STATE DIRECTOR FOR
(DATE OF EXECUTION)

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(TITLE)

RURAL DEVELOPMENT

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