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5 U.S.C. 301, 7 U.S.C. 1989, and 1981d(c).
72 FR 63316, Nov. 8, 2007, unless otherwise noted.
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(a) When a SAA is required. The Agency requires a borrower to enter into a SAA with the Agency covering all real estate security when the borrower:
(1) Owns any real estate that serves or will serve as loan security; and
(2) Accepts a write-down in accordance with § 766.111.
(b) When SAA is due. The borrower must repay the calculated amount of shared appreciation after a term of 5 years from the date of the write-down, or earlier if:
(1) The borrower sells or conveys all or a portion of the Agency's real estate security, unless real estate is conveyed upon the death of a borrower to a spouse who will continue farming;
(2) The borrower repays or satisfies all FLP loans;
(3) The borrower ceases farming; or
(4) The Agency accelerates the borrower's loans.
[72 FR 63316, Nov. 8, 2007, as amended at 89 FR 65045, Aug. 8, 2024]