OneRD Guarantee Loan Program

OneRD Guaranteed Loan Program

5001-6 Instuctions - 05-25-2022

OneRD Guarantee Loan Program

OMB: 0572-0155

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Instructions for RD 5001-6


ASSIGNMENT GUARANTEE AGREEMENT

The lender uses this form to assign or sell all or part of the guaranteed portion of a loan.

An Assignment Guarantee Agreement should be issued for each guaranteed note the lender wishes to sell or assign.

If a loan is subsequently sold or assigned the Agency must be notified using any format, including that used by the Securities Industry and Financial Markets Association. The original Assignment Guarantee Agreement must be transferred to the new holder.

Lenders 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

Program

Indicate the applicable program

USDA’s Borrower and Loan Identification Number

Enter the USDA’s Borrower and Loan Identification Number from the Loan Note Guarantee—must be an exact match. It is the borrowers case number followed by the loan number. The case number is the codes for the state and county in which the business is located, followed by the GLS system-generated 9-digit borrower identification number. The loan number is assigned by the finance office such as 50 or 51.

Line 1.

Enter the name of the lender

Line 2.

Enter the name of the borrower

Line 3.

Enter the principal amount of the loan

Line 4.

Enter date the Promissory Note(s) were executed

Line 5.

Enter the percent of loan guarantee. Example: 80%, 70%, or 60% guaranteed as applicable to the loan program per published annual fee notice

Line 6.

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

Line 7.

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 7 above. See examples below

Lender’s Identifying Loan Number

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

Lender's Promissory Note Number

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

Face Amount

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

Percent of Total Loan Amount

Enter the percent of total loan amount attributed to each promissory note

Amount Guaranteed

Face amount times percent of guarantee as noted in Line 5

Total – Face Amount of Note

Add all “face amount of note(s)” and enter total. Total should equal “principal amount of loan” noted in Line 3 above - this should autofill

Total – Amount Guaranteed

Add all “amount(s) guaranteed” and enter total. Total should equal entry in Line 6 above - this should autofill

Line 8.

Enter the Holder’s name

Line 9.

Enter the percent of the guaranteed loan the holder desires to purchase

Line 10.

Enter the Promissory Note Number of the subject assignment

Item 1.

Enter the principal amount of the loan now outstanding

Item 1a.

Enter the percent of the guaranteed portion of the Promissory Note the lender assigns the holder (Should match entry in Line 9 above)

Item 1b.

Enter the dollar amount that equals the guaranteed portion of the loan assigned to holder

Item 2.

Read Only

Item 3. Servicing Fee

Enter the percent of the annual servicing fee the holder agrees the lender will retain

Item 4.

Read Only

Item 5.

Read Only

Item 6.

Read Only

Item 7.

Read Only

Item 8.

Read Only

Item 9.

Read Only

Item 10.

Read Only

Item 11.

Read Only

Item 12.

Read Only



Item 13: Line 1

Enter the applicable USDA Agency initiating notices (RBCS, RHS, etc.)

Item 13: Line 2

Enter State in which the USDA Agency is initiating notices.

Item 13: Line 3

Enter the mailing address for Agency correspondence related to the Assignment Guarantee Agreement (Typically, the state office address is used)

Date

Enter the date this agreement is signed

By

Enter the name of the USDA approval official authorized to sign the Assignment Guarantee Agreement

Title

Enter the title of the USDA approval official authorized to sign the Assignment Guarantee Agreement

Lender

Enter the name of the lender

Address

Enter the address of the lender

By

Enter the lender representative Signature required

Title

Enter the title of the lender representative

Holder

Enter the name of the holder

Address

Enter the address of the holder

By

Enter the holder’s signature

Title

Enter the holder’s title



Example 1 (partial):

The lender closed the loan using a single. 100% of note #0002021001 in the face amount of $2,000,000, with an 80% USDA guarantee is being assigned to Raymond James Financial.


Add/ Remove

Lender’s Identifying

Note Number

Face Amount

Percent of Total Loan Amount

Amount Guaranteed


00020210001

$2,000,000.00

80%

$1,600,000

Total:


$2,000,000.00


$1,600,000


Raymond James Financial (Holder) desires to purchase from Lender 100 percent of the guaranteed portion of Promissory Note Number 00020210001. Copies of Borrower’s Promissory Note(s) and Loan Promissory Note Guarantee are attached hereto as a part hereof. Upon execution, a copy of all Assignment Guarantee Agreements associated with a Promissory Note will be attached to the original Promissory Note to be physically retained by original Lender. The original of the Assignment is retained by the Holder. Holder's rights to payments are listed herein.


All terms not otherwise defined have the definitions given to them in the 7 CFR part 5001.3.



NOW, THERFORE, THE PARTIES AGREE:


1. The principal amount of the Promissory Note now outstanding is $ 2,000,000. Lender hereby assigns to Holder 100 percent of the guaranteed portion of the Promissory Note representing $1,600,000 of such loan now outstanding in accordance with all of the terms and conditions hereinafter set forth. The Lender and USDA certify to the Holder that the Lender has paid and USDA has received the guarantee fee in exchange for the issuance of the Loan Promissory Note Guarantee and any applicable fees.


Example 2 (partial):


The lender closed the loan using multiple notes. 100% of note #0002021002 in the face amount of $500,000, with an 100% USDA guarantee is being assigned to Raymond James Financial.


Add/ Remove

Lender’s Identifying

Note Number

Face Amount

Percent of Total Loan Amount

Amount Guaranteed


00020210001

$1,100,000.00

100%

$1,100,000


00020210002

$500,000

100%

$ 500,000


00020210003

$400,000

0%

$ 0

Total:


$2,000,000.00


$1,600,000


Raymond James Financial (Holder) desires to purchase from Lender 100 percent of the guaranteed portion of Promissory Note Number 0002021002. Copies of Borrower’s Promissory Note(s) and Loan Promissory Note Guarantee are attached hereto as a part hereof. Upon execution, a copy of all Assignment Guarantee Agreements associated with a Promissory Note will be attached to the original Promissory Note to be physically retained by original Lender. The original of the Assignment is retained by the Holder. Holder's rights to payments are listed herein.


All terms not otherwise defined have the definitions given to them in the 7 CFR part 5001.3.



NOW, THERFORE, THE PARTIES AGREE:


1. The principal amount of the Promissory Note now outstanding is $ 500,000. Lender hereby assigns to Holder 100 percent of the guaranteed portion of the Promissory Note representing $500,000 of such loan now outstanding in accordance with all of the terms and conditions hereinafter set forth. The Lender and USDA certify to the Holder that the Lender has paid and USDA has received the guarantee fee in exchange for the issuance of the Loan Promissory Note Guarantee and any applicable fees.





Example 3 (partial):

The lender closed the loan using multiple notes. 50% of note #0002021003 in the face amount of $500,000, with a 100% USDA guarantee is being assigned to Raymond James Financial.


Add/ Remove

Lender’s Identifying

Note Number

Face Amount

Percent of Total Loan Amount

Amount Guaranteed


00020210001

$1,100,000.00

100%

$1,100,000


00020210002

$500,000

100%

$ 500,000


00020210003

$400,000

0%

$ 0

Total:


$2,000,000.00


$1,600,000


Raymond James Financial (Holder) desires to purchase from Lender 50 percent of the guaranteed portion of Promissory Note Number 0002021002. Copies of Borrower’s Promissory Note(s) and Loan Promissory Note Guarantee are attached hereto as a part hereof. Upon execution, a copy of all Assignment Guarantee Agreements associated with a Promissory Note will be attached to the original Promissory Note to be physically retained by original Lender. The original of the Assignment is retained by the Holder. Holder's rights to payments are listed herein.


All terms not otherwise defined have the definitions given to them in the 7 CFR part 5001.3.



NOW, THERFORE, THE PARTIES AGREE:


1. The principal amount of the Promissory Note now outstanding is $ 500,000. Lender hereby assigns to Holder 50 percent of the guaranteed portion of the Promissory Note representing $250,000 of such loan now outstanding in accordance with all of the terms and conditions hereinafter set forth. The Lender and USDA certify to the Holder that the Lender has paid and USDA has received the guarantee fee in exchange for the issuance of the Loan Promissory Note Guarantee and any applicable fees.


File Typeapplication/vnd.openxmlformats-officedocument.wordprocessingml.document
File TitleInstructions for RD1980-0018
Authorddaetwyl
File Modified0000-00-00
File Created2023-09-12

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