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Saturday March 17, 1956

FEDERAL REGISTER

1693

c Source.
A producer desiring tomodity Loan Form AA, and such other participate in the reseal loan program forms and documents as may be pre should make application to the county scribed by CCC. Notes and chattel mort Title 21
Page committee which approved his loan or gages must have State and documentary Chapter I:
Part 120_________________________ 1698 purchase agreement. Disbursements of revenue stamps affixed thereto where Proposed_____________________
1702 loans completed on wheat covered by required by law. Loan documents exe purchase agreements shall be made to cuted by an administrator, executor or Title 22
producers by ASC county offices by trustee will be acceptable only where Chapter I:
means of sight drafts drawn on CCC or legally valid.
Part 41______________ _______ _
1699 by approved lending agencies under b
Where required by State Law, a Part 42------------------------------------1699 agreements with CCC.
new producers note and chattel mort gage shall be completed when a farm Title 25
421.1053 Eligible producer.
An storage loan is extended.
Chapter I:
eligible producer shall be an individual, 1701 partnership, association, corporation, Part 130----------------------- 421.1057 Quantity eligible for re a The quantity of wheat estate, trust, or other business enterprise, sealing.
Title 32
or legal entity, and wherever applicable, eligible for reseal on an extended farm Chapter V:
Part 533 - 1701 a State political subdivision of a State, storage loan, will be the quantity shown or any agency thereof, producing wheat on the original note and chattel mort Chapter V II:
Part 864___________
1702 in 1955 as landowner, landlord, tenant, gage, less any quantity delivered or or sharecropper, who either completed a redeemed.
farm-storage loan or signed a purchase b
A producer may obtain a loan on storage loans and the making of farm - agreement covering wheat of the 1955 not in excess of the quantity of wheat storage loans on 1955-crop wheat covered crop.
specified in the purchase agreement, by purchase agreements. Neither ware minus any quantity of the wheat under
421.1054
Eligible wheat a
R e house-storage loans nor purchase agree such purchase agreement 1 which has quirements of eligibility.
The wheat 1
ments will be available to producers been previously placed under loan or 2
must meet the requirements set forth in under this program.
on which he exercises his option to sell
421.1038
a , b , c , and
f
, and b Time. 1 The producer who de to CCC.
must not grade Tough, Weevily, Ergoty, sires to participate in the reseal loan 421.1058 Additional service charges.
program must file an application for a or Treated; 2 must be under price sup a W hen a farm-storage loan is ex farm-storage reseal loan with the county port loan or purchase agreement; and 3 must, in addition, meet the sanita tended, the producer will not be required committee.
2 In the case of a farm-storage loan, tion requirements set forth in paragraph to pay an additional service charge.
b
At the time a farm-storage loan is the producer will be required to apply for b of this section.
b Sanitation requirements.
The made to the producer on wheat covered extension of his loan before the final date for delivery specified in the delivery inwheat 1 must not contain one or more by a purchase agreement, the producer . structions issued to him by the county rodent pellets, or comparable amounts shall pay an additional service charge of of other filth, per pint of wheat liquid y2 cent per bushel on the number of committee.
3 The producer who signed a pur measure, .nor 1 percent or more by bushels placed under loan, or $1.50, chase agreement on farm-stored wheat weight of kernels visibly damaged by whichever is greater. No refund of serv is required, under the 1955 Wheat Price weevils or other insects, and 2 must ice charges will be made.
Support Program, to notify the county not contain mercurial compounds or 421.1059
Transfer of producers committee not later than March 31,1956, other substances poisonous to man or equity. The producer shall not transfer in the case of wheat stored in any of the animals.
either his remaining interest in or his c Inspection. I f a producer makes States listed in paragraph a of this right to redeem the wheat mortgaged as application to extend his farm-storage section if he intends to sell the wheat to security for a loan under this program.
CCC. If the producer has notified the loan, or to obtain a farm-storage loan A producer who wishes to liquidate all on wheat covered by a purchase agree county committee, on or before March or part of his loan by contracting for the 31,1956, of his intention to sell the wheat ment, the commodity loan inspector shall sale of the wheat must obtain written inspect the wheat and storage structure, to CCC or to participate in this program, prior approval of the county committee he may obtain a farm-storage loan on obtain a sample if the wheat and struc on Commodity Loan Form 12 to remove ture appear eligible, and proceed in the the wheat. The loan documents must the wheat from storage when the pro be executed by the producer on or before regular manner for the inspection of a ceeds of the sale are needed to repay all the final date for delivery specified in commodity to be placed under loan.
or any part of the loan. Any such ap d Determination of quality. Quality proval shall be subject to the terms and the delivery instructions or, on or before determinations shall be made as set May 31, 1956, if the producer has not conditions set out in Commodity Loan requested or received delivery instruc forth in 421.1041, except that the re Form 12, copies of which may be obtained vised sanitation requirements specified tions. The loan documents must be by producers or prospective purchasers Presented for disbursement within 15 in paragraph b of this section shall be at the office of the county committee.
applicable.
days after execution. Disbursement of 421.1060 Set-offs. If the producer loans will be made to producers by ap 421.1055 Approved storage. Wheat is indebted to CCC on any accrued obli proved lending agencies under an agree covered by any loans extended and any gation, or if any installment or install ment with CCC, or by ASC county offices new loans completed must be stored in ments on any loan made available by by means of sight drafts drawn on CCC. structures which meet the requirements CCC on farm-storage facilities or mobile Payment in cash, credit to the pro for farm-storage loans as provided in drying equipment are past due, or are ducers account, or the drawing of a 421.1006 a . Consent for storage for payable under the provisions of the note check or draft shall constitute disburse any loans extended or new loans com evidencing such loan out of the proceeds ment. The producer shall not present pleted must be obtained by the producer of the price support loan or purchase, he loan documents for disbursement for the period ending M ay 31, 1957, if must designate CCC or the lending unless the commodity is in existence and the structure is owned or controlled by agency holding such note as the payee m good condition. I f the commodity someone other than the producer, or if of the proceeds of the price support loan as not in existence and in good con the lease expires prior to May 31, 1957. or purchase to the extent of such in dition at the time of disbursement, the 421.1056 Approved forms, a The debtedness or installments, but not to total amount disbursed under the loan approved forms, which together with the exceed that portion of the proceeds re shall be promptly refunded by the pro provisions of this subpart govern the maining after deduction of loan service ducer. hi the event the amount dis rights and responsibilities of the pro charges and amounts due prior lien bursed exceeds the amount authorized ducer, shall consist of Producers Note holders. I f the producer is indebted to under this subpart, the producer shall be and Supplemental Loan Agreement, any other agency of the United States Personally liable for repayment of the Commodity Loan Form A, secured by a and such indebtedness is listed on the Commodity Chattel Mortgage on Com county debt register, he must designate nount of such excess.

CODIFICATION GUIDE Con.