Special Servicing. A. The Lender will notify the Government when a Borrower is thirty (30) days past due on a payment or if a Borrower is otherwise in default. Lender will notify the Government of the status of a Borrower's default on Form RD 1980-44 ''Guaranteed Loan Borrower Default Status.'' Actions taken by Lender with written concurrence of the Government will include, but are not limited to, the following or any combination thereof: 1. Deferment of principal payments; 2. An additional temporary loan by the Lender to bring the account current; 3. Reamortization of or rescheduling the payments on the loan; 4. Transfer and assumption of the loan in accordance with the applicable subpart of 7 CFR part 3565; 5. Reorganization; 6. Liquidation; or 7. Subsequent loan guarantees.
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Sources: Lender's Agreement, Lender's Agreement