FSA-2026 Promissory Note

Form Approved - OMB No. 0560-0237
Expiration Date: 12/31/2025
(See Page 3 for Privacy Act and Paperwork Reduction Act Statements.)
Position 2
U.S. DEPARTMENT OF AGRICULTURE
Farm Service Agency

This form is available electronically.

FSA-2026
(06-25-20)

PROMISSORY NOTE
1. Name

4. Case Number

5. Fund Code

8. TYPE OF ASSISTANCE

2. State

3. County

6. Loan Number

7. Date

9. ACTION REQUIRING PROMISSORY NOTE:
Initial loan

Conservation easement

Consolidation

Rescheduling

Subsequent loan

Deferred
payments
Debt write down

Reamortization

10. FOR VALUE RECEIVED, the undersigned borrower and any cosigners jointly and severally promise to pay to the order of the
United States of America, acting through the Farm Service Agency, United States Department of Agriculture (“Government”), or its
assigns, at its office in (a)
or at such other place as the Government may later
designate in writing, the principal sum of (b)
dollars (c) ($
, plus interest on
the unpaid principal balance at the RATE of (d)

percent (e)
%) per annum. If this note is for a Limited Resource loan (indicated in Item 8) the Government may
CHANGE THE RATE OF INTEREST in accordance with its regulations, by giving the borrower thirty (30) days prior written
notice by mail to the borrower's last known address. The new interest rate shall not exceed the highest rate established in the
Government's regulations for the type of loan indicated in Item 8.
11. Principal and interest shall be paid in (a)
installments as indicated below, except as modified by a different rate of interest on or before the following dates:
(b) Installment amount

(c) Due Date

(b) Installment amount

$

$

$

$

$

$

$

$

(c) Due Date

in the amount (d) $
thereafter on the (e)
of each (f)
until the principal and interest are fully paid except that the final installment of the entire indebtedness evidenced hereby, if not
sooner paid, shall be due and payable (g)
years from the date of this note, and except that
prepayments may be made as provided below. The consideration for this note shall also support any agreement modifying the
foregoing schedule of payments.
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) 6329992. 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 ____________ 

FSA-2026 (06-25-20)

Page 2 of 3

12. If the total amount of the loan is not advanced at the time of loan closing, the loan funds shall be advanced to the borrower as
requested by the borrower and approved by the Government. Approval by the Government will be given, provided the advance is
requested for a purpose authorized by the Government. Interest shall accrue on the amount of each advance from the actual date
disbursed.
13. Any amount advanced or expended by the Government for the collection of this note or to preserve or protect any security for
the loan or otherwise expended under the terms of any security agreement or other instrument executed in connection with the loan
evidenced by this note shall, at the option of the Government, become a part of and bear interest at the same rate as the principal of
the debt evidenced by this note and be immediately due and payable by the Borrower to the Government without demand.
14. Every payment made on any indebtedness evidenced by this note shall be applied according to priorities set in 7 CFR Part 765,
or any successor regulation.
15. Prepayment 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 note.
16. Property constructed, improved, purchased, or refinanced in whole or in part with the loan evidenced by this note shall not be
leased, assigned, sold, transferred, or encumbered, voluntarily or otherwise, without the written consent of the Government. Unless
the Government consents otherwise in writing, the Borrower will operate such property as a farm.
17. If "Debt Write Down," "Consolidation," "Rescheduling," or "Reamortization" is indicated in Item 9, this note is given to
consolidate, reschedule or reamortize, but not in satisfaction of, the unpaid principal and interest on the following described notes or
assumption agreements under new terms:
(a)
FUND CODE/
LOAN NO.

(b)
FACE AMOUNT

(c)
INTEREST RATE

$ 

%

$ 

%

$ 

%

$ 

%

$ 

%

$ 

%

$ 

%

(d)
DATE
(MM-DD-YYYY)

(e)
ORIGINAL BORROWER

(f)
LAST
INSTALL. DUE
(MM-DD-YYYY)

18. Security instruments taken in connection with the loans evidenced by these described notes and other related obligations are not
affected by this consolidation, write down, rescheduling, or reamortization. These security instruments shall continue to remain in
effect and the security given for the loans evidenced by the described notes shall continue to remain as security for the loan
evidenced by this note, and for any other related obligations.
19. If at any time it shall appear to the Government that the Borrower may be able to obtain financing from a responsible
cooperative or private credit source at reasonable rates and terms for loans for similar purposes and period of time, the Borrower
will, at the Government's request, apply for and accept a loan in sufficient amount to pay this note in full and, if the lender is a
cooperative, to pay for any necessary stock. The provisions of this paragraph do not apply if the loan represented by this promissory
note was made to the Borrower as a nonprogram loan or a Conservation Loan.

Initial _____________   Date ____________ 

FSA-2026 (06-25-20)

Page 3 of 3

20. The Borrower recognizes that the loan described in this note will be in default should any loan proceeds 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 provided in 7 CFR Part 12 and to any successor regulation.
21. Failure to pay when due any debt evidenced by this note or perform any covenant of agreement under this note shall constitute
DEFAULT under this and any other instrument evidencing a debt of the Borrower owing to the Government or securing or
otherwise relating to such debt; and default under any such other instrument shall constitute default under this note. Upon such
default, the Government at its option may declare all or any part of any such indebtedness immediately due and payable.
22. This note is given as evidence of a loan to the Borrower made by the Government pursuant to the Consolidated Farm and Rural
Development Act and for the type of loan as indicated in Item 8. This note shall be subject to the present regulations of the
Government and to its future regulations not inconsistent with the express provisions of this note.
23. Presentment, protest, and notice are waived.
Signature(s) As Described In State Supplement:

NOTE:

The following statement 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 7 CFR Part 764, 7 CFR Part 765, 7 CFR Part 766, the Consolidated Farm and Rural Development Act (7 U.S.C. 1921 et seq.),
and the Agricultural Act of 2014 (Pub. L. 113-79). The information will be used to establish the borrower’s agreement to the terms and conditions for
obtaining the requested FSA Farm Loan Programs benefits. The information collected on this form may be disclosed to other Federal, State, 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 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 of the requested FSA Farm Loan Programs benefits.
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 0560-0237. 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.