When navigating the financial complexities of loans facilitated by the United States Department of Agriculture (USDA), borrowers find themselves engaging with various forms, each serving a critical function in the loan management process. Among these, the Form RD 440-9 stands out as a fundamental document for structuring a supplementary payment agreement. This form, revised in November 2002, enables borrowers indebted to the United States of America, through loans made or insured by the USDA, to arrange an alternative payment schedule for their loan. By meticulously outlining monthly installment amounts for the remainder of a calendar year and subsequent years until the full loan term, the RD 440-9 facilitates both immediate and long-term financial planning for borrowers. It caters to loans across various categories, including Farm Ownership (FO), Rural Housing (RH), Soil and Water (SW), and Rural Living (RL), among others, indicating its wide applicability. Moreover, the agreement includes conditions for default, the possibility of cancellation or amendment through mutual consent, and the modification of terms in response to changes in the borrower's indebtedness. This form is not just about numbers—it's a testament to the government's effort to provide flexible repayment solutions that acknowledge the financial realities faced by many rural Americans. Ensuring compliance and understanding the stipulations of Form RD 440-9 is essential for borrowers aiming to manage their USDA loans effectively, making it a crucial piece of documentation in the realm of rural development finance.
Question | Answer |
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Form Name | Form Rd 440 9 |
Form Length | 1 pages |
Fillable? | No |
Fillable fields | 0 |
Avg. time to fill out | 15 sec |
Other names | RD440 9 usda rural development supplementary payment agreement form |
Form RD
TYPE OF LOAN
FO
RH
SW
RL
OTHER
UNITED STATES DEPARTMENT OF AGRICULTURE
RURAL DEVELOPMENT
FARM SERVICE AGENCY
SUPPLEMENTARY PAYMENT
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AGREEMENT |
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OMB Control No.
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CASE NO.
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The undersigned (hereinafter called the ''Borrower'') being indebted for a loan made or insured by the United States of America, through the United States Department of Agriculture (hereafter called the ''Government'') as evidenced by a note or other debt instrument, (hereafter called the ''notes''), dated
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and desiring to provide for payment of such indebtedness by a supplementary plan of payments, hereby agrees with the Government, for good and valuable consideration, receipt of which is hereby acknowledged, as follows:
1.THE BORROWER WILL PAY ALL OR PART OF THE INSTALLMENTS OF PRINCIPAL AND INTEREST ON THE NOTES BY MAKING PARTIAL PAYMENTS EACH MONTH AS FOLLOWS:
(A)FOR THE REMAINDER OF THIS CALENDAR YEAR, BEGINNING
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(B) DURING EACH YEAR FOR THE REMAINDER OF THE TERM OF THE NOTE, BEGINNING JANUARY |
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JANUARY. . |
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SEPTEMBER. . . . |
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FEBRUARY. |
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. .APRIL. . . . |
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. . . .AUGUST |
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. . . . .DECEMBER |
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EACH PAYMENT SHOWN ABOVE SHALL BE MADE ON OR BEFORE THE |
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INDICATED, AND ANY REMAINING UNPAID PORTION OF THE YEARLY PAYMENT SHALL BE MADE ON OR BEFORE THE ANNUAL INSTALLMENT DUE DATE SHOWN IN THE NOTES.
2Nothing herein shall be construed as affecting any of the terms or conditions of the notes or the instrument securing them, other than the payment
. schedule set forth in the notes,
3 Upon DEFAULT by the Borrower in any of the terms or conditions of this agreement, the Government at its option may declare the entire
. indebtedness of the notes immediately due and payable.
4 This agreement may be canceled or amended at any time by mutual agreement in writing between the Borrower and the Government.
.However, if the total indebtedness of the Borrower to the Government is increased because of money advanced pursuant to the terms of the notes, mortgages, deeds of trust, or security agreements or because of a reduction in the amount of interest credit or payment assistance allowed the Borrower under the provisions of the Housing Act of 1949, as amended, this agreement will be modified by the Government to increase the monthly payments of the Borrower in an amount sufficient to pay the entire indebtedness on or before the due date shown in the notes.
Make Check or Money Order payable to and
Mail or Deliver your payment to
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According to the Paperwork Reduction Act of 1995, no persons are required to respond to a collection of information unless it displays a valid UMB control number. The valid UMB control number for this information collection is