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REGISTER

FEDERAL
VOLUME 17

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NUMBER 93

Washington, Saturday, May 10, 1952
TITLE 6 AGRICULTURAL CREDIT
Chapter III Farmers Home Adminis tration, Department of Agriculture Subchapter E Account Servicing
FHA Instruction 465.11
P art 373S ecurity S ervicing a n d Liquidations; F arm H ousing Loans S ubpart AG eneral S ecurity S ervicing general security servicing of farm HOUSING LOANS

Subchapter E, Title 6, Code of Federal Regulations 13 F. R. 9449,14 F. R. 2435, 15 F. R. 3077, 16 F. R. 7379 is amended to add Subpart A, Part 373 to read as follows:
Sec.
373.1
373.2
373.3

General.
Refinancing.
Partial release, subordination or consent under the terms of Fsirm Housing security instruments.
373.4 Actions which adversely affect secu rity.
373.5 Vacated farms.
873.6 Inspections in connection with maintenance of security property.
373.7 Advances to protect security.
373.8 Death of borrower.
373.9 Sale of farm by Farm Housing bor rower.
373.10 Assignment of Farm Housing notes and security instruments.
373.11 Compromise, adjustment, reduction or cancellation of Farm Housing Indebtedness.
A u t h o r it y : 373.1 to 373.11 issued under sec. 510 g, 63 Stat. 438; 42 U. S. C. 1480
g. Statutory provisions interpreted or ap plied are cited to text in parentheses.

b The State Director or his delegate is authorized to:
1 Determine when it appears that a borrower can secure refinancing credit and require refinancing when other acceptable credit is available.
2 Execute a lease or caretakers agreement on behalf of a borrower.
3 Make or authorize the advance of funds on behalf of a borrower, and charge the amount thereof to the bor rowers Farm Housing loan account.
c The State Field Representative is authorized to:
1 Approve the sale of timber.
2 Approve the use of timber, sand, gravel and stone, for making necessary improvements on the security property.
3 Approve the sale of sand, gravel, stone and coal.
4 Approve the sale or lease of naval stores.
d The County Supervisor is author ized to:
1 Approve the sales of timber when the proceeds of the sales will not exceed $300 within the calendar year.
2 Approve the sales o f sand, gravel, stone or coal when the proceeds of the sales will not exceed $300 within the calendar year.
3 Approve the sales or lease of naval stores when the proceeds of the sales or lease will not exceed $300
within the calendar year.
Secs. 501, 502 b, 510 a, b, c, d, e, 63 Stat. 432, 433, 437; 42 U. S. C. 1471, 1472 b, 1480 a, b, c, d, e
and other instruments necessary in con
373.2 Refinancing. Farm Housing borrowers are required upon request of the State Director or his delegate to pro ceed with diligence to refinance the balance of their Farm Housing indebt edness through cooperative or other responsible private cfedit sources. The County Supervisor will review all out standing Farm Housing loan accounts immediately following December 31, and in consultation with the County Commit tee determine those borrowers who have reduced their indebtedness to the extent th at they are likely to be able to obtain credit elsewhere. The County Supervi sor will request such refinancing when he and the County Committee determine th at the borrowers security position and debt-paying ability indicate he Is able to obtain the necessary credit upon reason able terms and conditions. Final deter-

nection with proper security servicing.

Continued on p. 4283

373.1 Generc. Subject to the poli cies and procedures prescribed in this part and insofar as the Governments interest is concerned:
The State Director is authorized to:
1 Approve the grant of easements and rights-of-way by a borrower.
2 Approve the sale of all or a por tion of farm, or appurtenance thereto attached.
3 Approve the sale of water rights.
4 Approve the sale or lease of min eral rights.
5 Assign, without recourse, notes and security instruments.
Execute releases, subordinations,

CONTENTS
Agriculture Department
Page
See Commodity Credit Corpora tion; Farmers Home Adminis tration; Production and Market ing Administration.
Alien Property, Office of
Notices:
Vesting orders, etc.:
Oppenheim, Katharina
4312

Civil Aeronautics Board
Notices:
Southern Airways, Inc.; certifi cate renewal case---------------- 4308
Civil Service Commission
Rules and regulations:
Noncompetitive appointments;
agency authority and general requirements for noncompeti tive appointments------ ------ - 4285
Commerce Department
Notices:
National Production Authority;
authority, organization and functions------------------------- 4305
Commodity Credit Corporation
Rules and regulations:
Honey; 1952 price support pro gram ------------------------ 4285
Customs Bureau
Rules and regulations:
Articles conditionally free, sub ject to a reduced rate, etc.;
miscellaneous amendments 4289
Economic Stabilization Agency
See Price Stabilization, Office of.
Farmers Home Administration
Rules and regulations:
General security servicing of farm housing loans------ ------- 4281
Federal Civil Defense Admin istration
Proposed rule making:
Official civil defense insigne
4303

Federal Communications Com mission
Notices:
Notification of stations, and of changes, modifications and deletions of existing sta tions:
Cuban stations 2 docu ments______________ 4310, 4311
4281