Loan funds may only be used to:
(a) Acquire land and interests therein (including fractional interests, rights-of-way, water rights, easements, and other appurtenances (excluding improvements) that would normally pass with the land or are necessary for the proposed operation of the land) located within the Native American tribe's reservation which will be used for the benefit of the tribe or its members.
(b) Pay costs incidental to land acquisition, including but not limited to, title clearance, legal services, land surveys, and loan closing.
(c) Refinance non-United States Department of Agriculture preexisting debts the applicant incurred to purchase the land provided the following conditions exist:
(1) Prior to the acquisition of such land, the applicant filed a loan application regarding the purchase of such land and received the Agency's approval for the land purchase;
(2) The applicant could not acquire an option on such land;
(3) The debt for such land is a short term debt with a balloon payment that cannot be paid by the applicant and that cannot be extended or modified to enable the applicant to satisfy the obligation; and
(4) The purchase of such land is consistent with all other applicable requirements of this part.
(d) Pay for the costs of any appraisal conducted pursuant to this part.
Notes of Decisions
Cited in
15
cases, 1987–2005 · leading case:
In Re Arnold, 88 B.R. 917 (Bankr. D. Iowa 1988).
In Re Arnold, 88 B.R. 917 (Bankr. D. Iowa 1988).
· cites it 9× “7 CFR § 770.4 (b)(2). [Notwithstanding any other provision of this chapter, a payment made under this part may not be the subject of an assignment, except as determined and announced by the CCC.”
Matter of Halls, 79 B.R. 417 (Bankr. S.D. Iowa 1987).
· cites it 3× “Further support for the conclusion that certificates can not be encumbered is found at 7 C.F.R. section 770.4(b) which states: (b) Liens, encumbrances, and State law.”
In Re Fryar, 93 B.R. 101 (Bankr. W.D. Tex. 1988).
· cites it 2× “Setoffs of these certificates is governed by 7 C.F.R. 770.4(b)(2), which states: “Commodity certificates shall not be subject to any lien, encumbrances or other claim or security interest except that of an agency of the United States Government arising specifically under Federal…”
In Re Evans, 337 B.R. 551 (Bankr. E.D.N.C. 2005).
· cites it 2× “at 920 (formerly at 7 C.F.R. § 770.4 (b)(2)). “[N]otwithstanding any other provision of this chapter, a payment made under this part may not be the subject of an assignment, except as determined and announced by the CCC.”
Matter of Lehl, 79 B.R. 880 (Bankr. D. Neb. 1987).
· cites it 2× “7 C.F.R. § 770.4 (b)(l)-(3) (1987). These sections were added to Title 7, Part 770 entitled “Commodity Certificates, In Kind Payments and Other Forms of Payment” in June, 1986.”
Matter of Mattice, 81 B.R. 504 (Bankr. S.D. Iowa 1987).
· cites it 2× “7 C.F.R. section 770.4(b) provides: (b) Liens, encumbrances, and State law.”
Matter of Butz, 86 B.R. 595 (Bankr. S.D. Iowa 1988).
“Payments under the Programs may be made in certificates.”
In Re George, 119 B.R. 800 (D. Kan. 1990).
· cites it 2× “As such, the court held that neither 7 C.F.R. § 770.4 (b)(2) 1 nor *802 the anti-assignment provision of 7 C.”
— 7 C.F.R. § 770.4(b) — 4 cases
Matter of Halls, 79 B.R. 417 (Bankr. S.D. Iowa 1987).
“Further support for the conclusion that certificates can not be encumbered is found at 7 C.F.R. section 770.4(b) which states: (b) Liens, encumbrances, and State law.”
Matter of Mattice, 81 B.R. 504 (Bankr. S.D. Iowa 1987).
“7 C.F.R. section 770.4(b) provides: (b) Liens, encumbrances, and State law.”
— 7 C.F.R. § 770.4(b)(2) — 1 case
In Re Fryar, 93 B.R. 101 (Bankr. W.D. Tex. 1988).
“Setoffs of these certificates is governed by 7 C.F.R. 770.4(b)(2), which states: “Commodity certificates shall not be subject to any lien, encumbrances or other claim or security interest except that of an agency of the United States Government arising specifically under Federal…”
— 7 C.F.R. § 770.4(c) — 1 case
Matter of Halls, 79 B.R. 417 (Bankr. S.D. Iowa 1987).
“Further support for the conclusion that certificates can not be encumbered is found at 7 C.F.R. section 770.4(b) which states: (b) Liens, encumbrances, and State law.”
— 7 C.F.R. § 770.4(g) — 3 cases
Matter of Butz, 86 B.R. 595 (Bankr. S.D. Iowa 1988).
“Payments under the Programs may be made in certificates.”
Matter of Halls, 79 B.R. 417 (Bankr. S.D. Iowa 1987).
“Further support for the conclusion that certificates can not be encumbered is found at 7 C.F.R. section 770.4(b) which states: (b) Liens, encumbrances, and State law.”
Matter of Mattice, 81 B.R. 504 (Bankr. S.D. Iowa 1987).
“7 C.F.R. section 770.4(b) provides: (b) Liens, encumbrances, and State law.”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.