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§ 765.202 - Borrower responsibilities.

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The borrower must:

Comply with all provisions of the loan agreements;

Non-compliance with the provisions of loan agreements and documents, other than failure to meet scheduled loan repayment installments contained in the promissory note, constitutes non-monetary default on FLP loans by the borrower;

Borrower non-compliance will be considered by the Agency when making eligibility determinations for future requests for assistance and may adversely impact such requests;

Maintain, protect, and account for all security;

Pay the following, unless State law requires the Agency to pay:

Fees for executing, filing or recording financing statements, continuation statements or other security instruments; and

The cost of lien search reports;

Pay taxes on property securing FLP loans when they become due;

Maintain insurance coverage in an amount specified by the Agency;

Protect the interests of the Agency when a third party brings suit or takes other action that could affect Agency security.

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§ 765.201 - General policy.
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§ 765.203 - Protective advances.