Form RD-465-1 Application for Partial Release, Subordination, or Conse

Close

Save

Form RD 465-1
(Rev. 3-03)

Submit
FORM APPROVED
OMB NO. 0575-0066
OMB NO. 0572-0137

Position 5
UNITED STATES DEPARTMENT OF AGRICULTURE
RURAL DEVELOPMENT
FARM SERVICE AGENCY

Exp. Date: DD/MM/YY

APPLICATION FOR PARTIAL RELEASE,
SUBORDINATION, OR CONSENT

TYPE OF LOAN

STATE

COUNTY

CASE NO.

(SPECIFY)

The undersigned

(Names of Borrower and Co-Borrower)

whose address (Including ZIP Code) is
in accordance with the terms of the security instruments held by Rural Development or the Farm Service Agency (hereafter referred to as
''Agency'') on their property, apply for release or subordination of the liens of said security instruments or consent to the following
transaction.
(Description)

2. Prior lienholders listed in order:

1. Plot of Property:

N

3. The prior lien to which subordination is
requested is to be held by:

W

E

4. The property to be leased or conveyed to:

S
5. Description of property to be covered by the release, subordination, or consent:

6. The use to be made of the property covered by this application is:

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

Close

Save

Submit

Close

Save

Submit

Close

Save

Submit

Number for this information collection is 0575-0066 and 0572-0137. Public reporting for this collection of information is estimated to be approximately 1 hour 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 by 7 CFR 1951 E, Servicing of
Community and Direct Business Programs Loans and Grants, and 7 CFR Part 1782, Servicing of Water Programs Loans and Grants. 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]

Close

Save

Submit

Initial payment $
Subsequent payment(s) $

7. The anticipated proceeds from this transaction are:
Other considerations:

If the borrower obtains a loan from another lender as a result of any subordination covered by this application, the lender must
incorporate in the borrower's note a statement that the loan will be in default should any proceeds of the loan funds obtained as a
result of this subordination be used for a purpose that will contribute to excessive erosion of highly erodible land or to the
conversion of wetlands to produce an agricultural commodity.

8. Subject to the provisions of Paragraph 7 it is proposed to use the proceeds as follows:
9. Have you or any member, stockholder, partner or joint operator of the entity borrower been convicted under Federal or State law of
planting, cultivating, growing, producing, harvesting, or storing a controlled substance since December 23, 1985?
Yes
No
If yes, provide date of conviction and details on a separate sheet.
10. If this application is approved, the undersigned borrower(s) agree to comply with such terms as may be prescribed by Agency and to
disposition of the proceeds as required by Agency pursuant to its regulations, including the method of applying payments to the
borrower(s)' loan accounts. It is expressly understood that unless a separate written instrument of subordination or partial release is
executed and delivered by Agency pursuant to this application, approval by Agency of this application will merely constitute and
evidence its consent, as lienholder, to the proposed transaction without in any way subordinating its lien, releasing any of its
security, modifying the payment terms of the loan, or otherwise affecting any rights of Agency.
The borrower(s) agrees that none of the funds obtained as a result of any subordination covered by this application will be used for
a purpose that will contribute to excessive erosion of highly erodible land or to the conversion of wetlands to produce an
agricultural commodity, as explained in Exhibit M of Subpart G of Part 1940 of Title 7 of the Code of Federal Regulations.

Date

Signed

(Borrower)
(Co-Borrower)

-2-

Close

Save

Submit

Close

Save

Submit

1. The proposed transaction:

WILL NOT prevent or make more difficult the successful operation of this property.
WILL NOT reduce the efficiency of the property.

WILL
WILL

2. The proposed transaction will affect the value of this property as security for the loan as follows:
Present Market Value
(a) Value of Real Estate Before
(b) Value of Real Estate After
(c) Value of Real Estate Disposed of
3. The following

damages

benefits will result to this property from the transaction:

I hereby recommend that this application be approved and that the proceeds be applied or released as follows:
INITIAL PAYMENT
SUBSEQUENT PAYMENTS:
$
or
0% % To extra payment on Agency loan
To extra payment on Agency loan $
or
0% % To regular payment on Agency loan
$
To regular payment on Agency loan $
or
$
$
To borrower as regular income
0% % To borrower as regular income
or
0% % To prior lien(s)
To
prior
lien(s)
$
$
Other (specify)
Other (specify)
$
$

Recommended by

Date

(Title)

Date

Approved

Disapproved by

(Title)

UNITED STATES DEPARTMENT OF AGRICULTURE
-3Close

Save

RD 465-1 (Rev. 3-03)
Submit