Farm Loan Programs - Direct Loan Servicing - Regular

Farm Loan Programs - Direct Loan Servicing - Regular

FSA-2061Ins_Proposal

Farm Loan Programs - Direct Loan Servicing - Regular

OMB: 0560-0236

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FSA-2061 Date of Modification xx-xx-20xx


FSA-2061


APPLICATION FOR PARTIAL RELEASE OR CONSENT


INSTRUCTIONS FOR PREPARATION


Purpose:

This form is used by borrowers to request agency approval for transactions affecting real estate that serves as security for agency loans, such as partial releases, sale or exchange of security, right of way, lease, and conveyance. Part A is completed by the borrower with agency assistance if needed. The borrower signs in Part A. Part B is completed by the Agency. The authorized Agency officials sign in Part B.

Handbook Reference:

4-FLP, 5-FLP, and 6-FLP

Number of Copies:

Original

Signatures Required:

Borrower(s)and authorized Agency official.

Distribution of Copies:

The Original of the form is retained in the County Office.

Automation-Related Transactions: (Instructions for writers: provide only the information required, i.e. ADPS TC 3K. If no automation actions are required, insert N/A) DLS, FBP

The borrower, with assistance of the agency, completes Part A, Items 1 - 12


Fld Name /
Item No.

Instruction

1(a)

Borrower Names

Enter the name(s) of the Borrower(s).

1(b)

Release

Check this box if the application is for the release of FSA’s security interest.





1(c)

Consent

Check this box if the application is for consent. And enter the specific action requiring consent that is being requested with this application.



2

Description of Property

Enter the description of the security property affected by the release or consent request.

3(a)

Name of Lienholder



Enter the name of any lienholder, including FSA in the order of lien priority.

3(b)

Approximate amount of lien

Enter the approximate amount of the lien.

3(c)

Lien priority

Enter the lien priority of the lien – 1st, 2nd, 3rd, etc.

3(d)

Property

Enter the property that is security for the applicable lien.

4

Use

Enter the use to be made of the property covered by the application and to whom the property will be leased or conveyed.

5

Proceeds

Enter the amount of the proceeds anticipated or the benefit to be gained by this transaction.

6

Additional considerations

Enter any additional considerations.

7

Proposed use of proceeds

Enter the proposed use of the proceeds anticipated.

8

Items for complete application

Include the items listed, as applicable.

9(a) – (c)

Certifications

Check “YES” or “NO” to each of the three questions.

10

Certification explanation

If “YES” was marked in any of the three certification questions, enter an explanation.

11

Read – the paragraph contains a false statement warning.

12A and B Signature and date

Borrower(s) making the request for partial release or consent sign their name in 12A and enter the date they sign the form in 12B.



Part B – FSA Approval- To be completed by the agency

1

Comment

Provide documentation to support the recommendation and/or approval of the transaction including compliance with the requirements for approving type of transaction and any of the damages and/or benefits that will result from the transaction. The completion of the electronic signature command in the credit presentation section of the FBP authorizes the local servicing official to complete Part B.

2(a)

Initial payment

Enter the amount of the initial payment and the distribution of the payment to one of the 5 options listed.

2(b)

Subsequent payments

Enter the amount of any subsequent payment(s) and the distribution of the payment(s) to one of the 5 options listed.


Fld Name /
Item No.

Instruction

3(a) or (b)

Recommend-ation

Check either the “recommend” or the “do NOT recommend” box.

3(c)

Authorized Agency official name

Enter the name of the authorized Agency official.

3(d)

Authorized Agency official title

Enter the title of the authorized Agency official.

3(e)

Signature

The authorized Agency official will sign.

3(f)

Date

The date will be entered by the authorized Agency official when they sign the form.

4(a) or (b)

Agency decision

Check either the “approve” or the “do NOT approve” box.

4(c)

Reason for denial

Enter the reason for denial of the request.

4(d)

Authorized Agency official name

Enter the name of the authorized Agency official making the decision to either approve or disapprove the release or consent.

4(e)

Authorized Agency official title

Enter the title of the authorized Agency official.

4(f)

Signature

The authorized Agency official will sign.

4(g)

Date

The date will be entered by the authorized Agency official when they sign the form.


Borrowers: Contact the local servicing office if assistance is needed.

Agency officials: Contact the State Office if additional guidance is needed.







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File Typeapplication/vnd.openxmlformats-officedocument.wordprocessingml.document
AuthorDurkin, Mary - FSA, Washington, DC
File Modified0000-00-00
File Created2024-09-06

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