175.13 - LOANS TO BEGINNING FARMERS.
175.13 LOANS TO BEGINNING FARMERS.
1. The authority may make mortgage or secured loans, including
but not limited to mortgage or secured loans insured, guaranteed, or
otherwise secured by the federal government or a federal governmental
agency or instrumentality, a state agency or private mortgage
insurers, to beginning farmers to provide financing for agricultural
land and agricultural improvements or depreciable agricultural
property.
2. Mortgage or secured loans shall contain terms and provisions,
including interest rates, and be in a form established by rules of
the authority. The authority may require the beginning farmer to
execute a note, loan agreement or other evidence of indebtedness and
furnish additional assurances and guarantees, including insurance,
reasonably related to protecting the security of the mortgage or
secured loan, as the authority deems necessary. Section History: Early Form
[C81, § 175.13]
Referred to in § 175.34