§3565.212. Multiple guaranteed loans.
7 C.F.R. § 3565.212
The Agency may guarantee more than one loan on any project if all guaranteed loans, in the aggregate, comply with these regulations, including without limitation:
In the aggregate, loans do not exceed the maximum guaranteed loan amount and loan-to-value limits, as contained in § 3565.204;
In the aggregate, loans are all to be secured equally by a first lien as the Agency may, at its sole discretion, determine necessary to ensure repayment of the loans; and
If different lenders originate the loans, each lender has executed an intercreditor agreement in form and substance acceptable to the Agency.
Notes, amendments, and revision history
Amendments
[63 FR 39458, July 22, 1998, as amended at 70 FR 2931, Jan. 19, 2005]
Authority
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42 U.S.C. 1480.
Source
Source: 63 FR 39458, July 22, 1998, unless otherwise noted.
Amendments
[63 FR 39458, July 22, 1998, as amended at 70 FR 2931, Jan. 19, 2005]