4281-10 Loan Note Guarantee

Food Supply Chain Guarantee Loan Program

FMI 4281-10 Loan Note Guarantee

Food Supply Chain Guarantee Loan Program

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Instructions for RD 4281-10


LOAN NOTE GUARANTEE

The Agency executes this guarantee instrument to set forth the terms and conditions of the guarantee.


The Agency must complete all items identified in the following table.


Blanks on the form are numbered from left to right on each line and then by line from top to bottom of each page.


Fld Name / Item No.


Instruction

Borrower Name

Enter the name of the borrower



Lender Name

Enter the name of the lender

Lender’s Tax ID Number

Enter the tax identification number of the lender

Lender’s Address

Enter the address of the lender

USDA’s Borrower Unique Entity Identifier

Enter the USDA’s Borrower Unique Entity Identifier which is either the GLS or CPAP borrower ID number as

appropriate.

Principal Amount of Loan (“Loan”) $

Enter the principal amount of the loan

Date of Note(s)

Enter the date that notes were executed. All notes attached to a project should be executed by the lender and borrower on the same date when the loans are closed

Type of Loan

Check the Food Supply Chain Guaranteed Loan Program

The guaranteed portion…Blank 1.

Enter the dollar amount that equals the guaranteed portion of the loan(s). Example 1: $2,000,000 loan with 80%

guarantee, enter $1,600,000.

Blank 2.

Enter the percent guaranteed of the total loan principal.

Example: 80%, 70%, or 60% guaranteed as applicable to the

loan program per published annual fee notice

Blank 3.

Enter the total number of notes issued for the project

Table

Use the plus and minus icons to add or remove notes associated with the project. The total number of lines in the table should equal the entry made in line 3 above. See

examples below

Lender’s Identifying Loan Number

Enter the number associated with each individual note issued by the lender

Face Amount of Note

Enter the face amount (amount stated on note that borrower is obligated to pay) of the note



Fld Name / Item No.


Instruction

Percent of Guarantee

For each note, enter the percent to be guaranteed

Amount Guaranteed

Face amount of note times percent of guarantee equals amount guaranteed

Total – Face Amount of Note

Add all “face amount of note(s)” and enter total. Total should equal “principal amount of loan” noted above

Total – Amount Guaranteed

Add all “amount(s) guaranteed” and enter total. Total should equal entry in Line 1

14. Notices


Line 1

Enter the applicable USDA Agency, RBCS, initiating notices


Line 2

Enter state in which the USDA is initiating notices

Line 3

Enter mailing address for Agency correspondence related to the Loan Note Guarantee. (Typically, the state office address is used)

By

Signature of approval official

Date

Enter the date this Loan Note Guarantee is signed

Line Under By

Enter name of USDA approval official authorized to sign the Loan Note Guarantee

Title

Enter title of the USDA approval official authorized to sign the Loan Note Guarantee

Assumption Agreement by

If applicable, enter name of entity that assumes the Loan Note Guarantee

Dated

If applicable, enter the date the Loan Note Guarantee is assumed

Assumption Agreement by

If Loan Note Guarantee is assumed for a second time, enter Signature of entity that assumes the Loan Note Guarantee

Dated

If Loan Note Guarantee is assumed for a second time, enter the date the Loan Note Guarantee is assumed


Example 1:

The guaranteed portion of the loan is $1,600,000, which is 80% percent of total loan principal. The principal amount of the loan is evidenced by 1 notes (include bonds as appropriate)

described below. The guaranteed portion of each note is indicated below.


Add/ Remove

Lender’s

Identifying Loan Number

Face Amount of Note

Percent of Guarantee

Amount Guaranteed


00020210001

$2,000,000.00

80%

$1,600,000

Total:


$2,000,000.00


$1,600,000


Example 2:

The guaranteed portion of the loan is $1,600,000, which is 80% percent of total loan principal. The principal amount of the loan is evidenced by 3 notes (include bonds as appropriate)

described below. The guaranteed portion of each note is indicated below.


Add/ Remove

Lender’s

Identifying Loan Number

Face Amount of Note

Percent of Guarantee

Amount Guaranteed


00020210001

$1,000,000

80%

$800,000


00020210002

$500,000

80%

$400,000


00020210003

$500,000

80%

$400,000

Total:


$2,000,000.00


$1,600,000



File Typeapplication/vnd.openxmlformats-officedocument.wordprocessingml.document
AuthorBennett, Pamela - RD, Washington, DC
File Modified0000-00-00
File Created2021-11-18

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