765.206—Junior liens.
(a) General policy.
The borrower will not give a lien on Agency security without the consent of the Agency. Failure to obtain Agency consent will be considered by the Agency when making eligibility determinations for future requests for assistance and may adversely impact such requests.
(b) Conditions for consent.
The Agency will consent to the terms of a junior lien if all of the following conditions are met:
(2)
The borrower provides the Agency a copy of the farm operating plan submitted to the junior lienholder, and the plan is consistent with the Agency operating plan;
(4)
The junior lienholder agrees in writing not to foreclose the security instrument unless written notice is provided to the Agency;