Offer To Convey Security

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FORM APPROVED
OMB NO. 0575-0189
Exp. Date: MM/DD/YY

Position 3

Form RD 3560-22
Rev. 03-20

UNITED STATES DEPARTMENT OF AGRICULTURE
RURAL HOUSING SERVICE
RURAL DEVELOPMENT

TYPE OF LOAN

STATE

OFFER TO CONVEY SECURITY

COUNTY

BORROWER NAME
I.

CASE NO. / PROJECT NO.

We hereby offer to convey to the United States of America, acting through the Rural Housing Service, herein called the ''Agency'',
our property covered by mortgages, deeds of trust, accrued claims resulting from any breach of contract or prepayment right
allegations, or other security instruments held or insured by the Agency.
in full satisfaction of debt.
for a credit equal to the value of the property as determined by the Agency, less prior liens, if any, on our obligations which are
secured by or described in such instruments and any obligations incurred on our behalf, as authorized below, in connection with the
conveyance of satisfactory title to the Agency.

II.

Prior to the conveyance, we agree to remove at our expense all prior and junior liens, (except Agency liens) and all other encumbrances and
title defects (now known or hereafter disclosed) except those approved by the Agency in writing.

III.

We agree that the following items will be paid by us or may be paid by the Agency and charged to our account as indicated by the marked
blocks:
Will be Paid
By Us

May be Paid by the Agency and
Charged to Our Account

Item
Expenses necessary or incidental to such conveyance (including but not
limited to expenses of title examination, survey, revenue stamps, notary
and recording fees.)
Cost of keeping insurance in force on the property in accordance with the
provisions of the security instruments until our deed to the Agency is recorded.
Cost of title insurance if required by the Agency.
Taxes and assessments, and any liens approved by the Agency for
which payment is necessary to clear title.

IV.

At closing the following will be assigned to the Agency:
(1)

all our right, title and interest in all insurance premiums paid by the Agency and charged to our account and all unpaid claims
arising from insurance policies in effect at any time on any buildings on said property;

(2)

all our right, title and interest in all abstracts of title, title insurance policies or other title evidence, and in all outstanding leases to
which said property is subject, including oil and gas and other types of mineral leases; and

(3)(3)

funds now on deposit, including borrower and Agency funds in a construction, supervised, or other account under agreement with
the Agency and/or
;
(Name of Bank)

all our rights, title, and interest in all contract rights, inventories, equipment, furnishings, accounts, general intangibles, gross
receipts, gifts, pledges, accrued causes of action in relation to any breach of contract or prepayment right, income, and revenue
as described in security instruments held or insured by the Agency.
If cash proceeds from this assignment are received by the Agency before title to the property passes to the Agency, the proceeds shall be
applied to the indebtedness.
(4)

V.

We agree to deliver possession of said property to the Agency when the conveyance to the Agency closes.

VI.

The Agency may accept or reject this offer at anytime by indicating so in Item VII below and delivering or mailing a copy of this offer to us
at the address currently in the Agency Finance Office records or such other address as we may direct. We understand that we may
withdraw this offer by written notice delivered to the Agency at anytime prior to its acceptance.

VII.

Closing will occur within 30 days of acceptance of this offer.

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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
Number for this information collection is 0575-0189. Public reporting for this collection of information is estimated to be approximately 30 minutes 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 under Section 515 Rural Rental
Housing, which includes Congregate Housing, Group Homes, and Rural Cooperative Housing. 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]

Individual(s):

(Signature)

Borrower

(Signature)

Date:

Co-Borrower

Date:

Proprietorship, Partnership, Corporation, Association, Public Body, or Other Entity :

Borrower Name
By:

(Signature)

Date:
Title:

Decision by Agency:
VIII.

Your offer to convey security is

IX.

In accordance with the terms of your offer, you

Date:

(Signature)

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accepted

rejected.
are/

Approval Official

are not to be released from liability.

(Title)