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Wednesday, June 15, 1949
Sec.
602.62
602.63

Loan rates.
FMA commodity offices.

Au th o rity : 602.51 to 602.63 issued under sec. 302 a , 52 Stat. 43, sec. 1 d , 62 Stat.
1247, sec. 5 a , 62 Stat. 1072; 7 U. S. C.
1302 a .

602.51 Applicable sections of 1948
"barley loan program. The following sec tions of the 1948 Barley Price Support Program, published in 13 P. R . 3998,4913, 5524 and 14 P. R. 2041, shall be applicable in their entirety to the 1948 Barley Re seal Program: 602.1, Administration;
602.8, Determination of quantity;
602.9, Determination of dockage;
i 602.10, Liens; 602.13, Interest rate, 602.14, Transfer of producers equity;
602.15, Safeguarding of the barley;
602.16, Insurance; 602.17, Loss or damage to the barley; 602.18, Personal liability; 602.20, Removal of the barley under loan; 602.21, Release of thoharley under loan; 602.22, Purchase of notes.
Other sections of the 1948 Barley Price Support Program Bulletin shall be appli cable to the extent indicated herein.
602.52 Availability a Area. The reseal program will be available in all areas where farm-storage loans were available under the 1948 Barley Price Support Program.
Only farm-storage loans will be made or extended under this program.
b Time. The producer who desires to participate in the reseal program rather than to liquidate his loan or sell his barley to CCC under his purchase agreement must make application to the county committee and sign and deliver the applicable documents to the county committee not later than June 30, 1949.
c Source. Producers desiring to par ticipate in the reseal program should make application to the county commit tee, which approved his loan or purchase agreement.
Loans on barley covered by purchase agreements will be made direct by CCC
only and disbursement will be made by sight draft drawn on CCC by the State PMA office.
602.53 Eligible producer.
An eli gible producer shall be any individual, partnership, association, corporation, or other legal entity who produced the bar ley in 1948 as landowner, landlord, ten ant, or sharecropper, and who either com pleted a farm-storage loan or signed a purchase agreement on farm-stored bar ley of the 1948 crop.
602.54 Eligible barley. To be eli gible, barley must be in farm-storage, must never have been commingled with barley produced by others, must be un der loan or covered by a purchase agree ment, and must meet the eligibility re quirements for loans, as provided in the 1948 Barley Price Support Program.
a Extended farm-storage loans. The commodity loan inspector shall with the producer inspect the barley to determine if it is eligible. I f recommended by either the commodity loan inspector or the pro ducer a sample of the barley shall be taken and submitted for grade analysis.
b Farm-stored barley covered by purchase agreement. I f a producer
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FEDERAL REGISTER
makes application for a farm-storage loan on barley covered by a purchase agreement the commodity loan inspector shall inspect the barley and storage struc ture, obtain a sample if the barley and structure appear eligible and proceed in the regular manner for the inspection of a commodity to be placed under loan.
602.55 Approved storage. Barley covered by any loans extended and any new loans completed must be stored in structures which meet the requirements for farm-storage loans as provided in 1948 Barley Price Support Program.
Consent for storage for any loans ex tended or new loans completed must be obtained by the producer for the period ending June 30, 1950, if the structure is owned or controlled by someone other than the producer, or if the lease expires prior to June 30, 1950
602.56 Approved forms. Approved forms shall be a producers note, Com modity Loan Form A, secured by a chat tel mortgage on Commodity Loan Form AA, an application form, and such other forms as may be prescribed by CCC.
Where required by State law a new producers note and chattel mortgage shall be completed when a farm-storage loan is extended.
602.57 Quantity eligible for reseal ing. The quantity of barley eligible for reseal on an extended farm-storage loan, will be the quantity shown on the origi nal note and chattel mortgage, less any quantity delivered or redeemed.
A producer may obtain a farm-storage loan on not in excess of the quantity of barley specified in-the purchase agree ment minus any quantity on which he exercises his option to sell to CCC.
602.58 Additional s e r v i c e fees.
When a farm-storage loan is extended, the producer will not be required to pay an additional service fee.
At the time a farm-storage loan is saade to the producer on barley covered by a purchase agreement, the producer shall pay an additional service fee of V2 cent per bushel on the number of bushels placed under loan, or $1.50, whichever is greater.
602.59 Set-offs. I f the producer is indebted to CCC, whether or not such indebtedness is listed on the county debt register, he must designate CCC as the payee of the proceeds of the loan to the extent of such indebtedness but not to exceed that portion of the proceeds re maining after deductiqn of loan service fees and amounts due prior lienholders.
I f the producer is indebted to any other agency of the United States and such in debtedness is listed on the county debt register, he shall be required to designate such agency as payee of the proceeds as provided above. Indebtedness owing to CCC shall be given first consideration after claims of prior lienholders.
602.60 Storage payment for 194950 period. A producer who participates in the reseal program and keeps his bar ley in storage for the full reseal storage period, will, after delivery of the barley
to CCC, receive a storage payment of 10
cents per bushel, provided the barley is delivered to CCC on or after April 30, 1950.
I f the barley is delivered to CCC prior to April 30,1950, the amount of the stor age payment will be prorated depending upon the length of time the barley was in store, provided delivery was not made as a result of a demand for repayment due to any fraudulent representation on the part of the producer or the fact that the barley was damaged, abandoned, or otherwise impaired, due to negligence on the part of the producer. The prorated storage payment will be computed at the rate of 0 of a cent a day beginning on July 1, 1949, but in no event shall such payment exceed 10 cents per bushel.
602.61 Maturity and satisfaction.
Loans will mature on demand but not later than April 30, 1950. The producer will be required to pay off his loan plus interest on or before maturity or to de liver the mortgaged barley to CCC.
I f the settlement value of the barley delivered exceeds the amount due on the loan, the amount of the excess shall be paid to the producer by a sight draft drawn on CCC by the State PM A office.
I f the settlement value of the barley delivered is less than the amounjt due on the loan, the amount of deficiency shall be paid by the producer to CCC or may be set off against any payment which would otherwise be made to the producer under any agricultural pro grams administered by the Secretary of Agriculture, or any other payments which are due or may become due to the producer from CCC or any other agency of the United States.
602.62 Loan rates. The loan rates for the barley covered by a purchase agreement placed under a farm-storage loan will be the same as the loan rates established for barley in the 1948 Barley Frice Support Program Bulletin.
Any discounts or premiums estab lished for variation in grades as shown in the 1948 Barley Price Support Pro gram Bulletin will apply.
602.63 PM A
commodity offices.
The PMA commodity offices and the areas served by them are shown below:
Address and Area Atlanta 3, Ga., 449 West Peachtree Street N W .: Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, Tennessee, Virginia.
Chicago 5, Hi., 623 South Wabash Avenue:
Illinois, Indiana, Iowa, Michigan, Ohio.
Dallas 2, Tex., 1114 Commerce Street:
Arkansas, Louisiana, New Mexico, Oklahoma, Texas.
Kansas City 6, Mo., Postal Building, 802
Delaware Avenue: Colorado, Kansas, Mis souri, Nebraska, Wyoming.
Minneapolis 1, Minn., 328 McKnight Building: Minnesota, Montana, North D a kota, South Dakota, Wisconsin.
New York 4, N. Y., 67 Broad Street, Room 1304: Connecticut, Delaware, Maine, Mary land, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Is land, Vermont, West Virginia.
Portland 5, Oreg., 515 Southwest Tenth Avenue: Idaho, Oregon, Washington.