§765.203. Protective advances.

7 C.F.R. § 765.203

When necessary to protect the Agency's security interest, costs incurred for the following actions will be charged to the borrower's account:

(a)

Maintain abandoned security property;

(b)

Preserve inadequately maintained security;

(c)

Pay real estate taxes and assessments;

(d)

Pay property, hazard, or flood insurance;

(e)

Pay harvesting costs;

(f)

Maintain Agency security instruments;

(g)

Pay ground rents;

(h)

Pay expenses for emergency measures to protect the Agency's collateral; and

(i)

Protect the Agency from actions by third parties.

Notes, amendments, and revision history

Authority: 5 U.S.C. 301 and 7 U.S.C. 1989.

Source: 72 FR 63309, Nov. 8, 2007, unless otherwise noted.