Document Updates: Loan Note Guarantee – Form RD 3555-17 (Cx18891)

Pursuant to our monthly audit of Federal Agency forms, we will be making the following, substantive changes to Cx18891, to make it match the model form available through https://forms.sc.egov.usda.gov/eForms/searchAction.do?pageAction=BrowseForms/:

• Changing the revision date from “06-16” to “04-20”;
• Replacing the clause “90 days from the Lender’s acquisition of the collateral or date of the initial loss settlement, whichever is earlier.” in the third paragraph to:

“a limit prescribed by RHS and in effect at the time any loss under this Loan Note Guarantee is paid.”; and

• Also in the third paragraph, changing “90 days” in the last sentence to “60 days”.

These changes will take effect on June 2, 2020. Questions or concerns about these changes should be directed to Client Support at 1.800.497.3584.