Multi-Note System. When this option is selected by the Lender, upon disposition the Holder will receive one of the Borrower’s executed notes and Form RD 4279-5, attached to the Borrower’s note. However, all rights under the security instruments (including personal and corporate guarantees) will remain with the Lender and in all cases insure to its and the Government’s benefit notwithstanding any contrary provisions of law.
Multi-Note System. When this option is selected by the Lender, upon disposition the Holder will receive one of the Borrower’s ex- ecuted notes and Form FmHA or its suc- cessor agency under Public Law 103–354 1980– 72, ‘‘Loan Note Guarantee—DARBE,’’ at- tached to the Borrower’s note. However, all rights under the security instruments (in- cluding personal and/or corporate guaran- tees) will remain with the Lender and in all cases inure to its and the Government’s ben- efit notwithstanding any contrary provisions of state law.
a. At Loan Closing: Provide for no more than 10 notes, unless the Borrower and FmHA or its successor agency under Public Law 103–354 agree otherwise, for the xxxxxx- xxxx portion and one note for the unguaranteed portion. When this option is selected, FmHA or its successor agency under Public Law 103–354 will provide the Lender with a Form FmHA or its successor agency under Public Law 103–354 1980–72, for each of the notes.
Multi-Note System. Under this op- tion, the Lender may provide multiple Promissory Notes for the unguaranteed and the guaranteed portions of the loan. All Promissory Notes must re- flect the same payment terms. When the Lender selects this option, the Holder will receive one of the Bor- rower’s executed notes and a Loan Note Guarantee. The Agency will issue a Loan Note Guarantee for each Prom- issory Note, including the unguaranteed Promissory Note(s), to be attached to the Promissory Note(s). An Assignment Guarantee Agreement will not be used when the multi-note option is utilized.
Multi-Note System. When the Lender, selects this option, the Lender will transfer to the Holder one of the Borrower's executed notes and Loan Note Guarantee attached to the Borrower's note. However, all rights under the security instruments will remain with the Lender and in all cases inure to its and the Government's benefit notwithstanding and contrary provisions of state law.
Multi-Note System. Under this option, the Lender may provide one note for the unguaranteed portion of the loan and no more than five notes for the guaranteed portion. All promissory notes must reflect the same payment terms. The Lender must retain its interest in the collateral and servicing responsibilities for the guaranteed loan. When the Lender selects this option, the Holder will receive one of the Borrower’s executed notes and Loan Note Guarantee attached to the Borrower’s note. An Assignment Guarantee Agreement will not be used when the multi-note option is used.
Multi-Note System. Under this op- tion, the lender may provide one note for the unguaranteed portion of the loan and no more than 10 notes for the guaranteed portion. All promissory notes must reflect the same payment terms. The lender must retain its in- terest in the collateral and servicing responsibilities for the guaranteed loan. When the lender selects this op- tion, the holder will receive one of the borrower’s executed notes and a Loan Note Guarantee. The Agency will issue a Loan Note Guarantee for each note, including the unguaranteed note, to be attached to each note. An Assignment Guarantee Agreement will not be used when the multi-note option is utilized.
