FSA-2501 Date of Modification: proposal 2
ADDENDUM TO THE PROMISSORY NOTE OR ASSUMPTION AGREEMENT FOR THE DISASTER SET-ASIDE PROGRAM
INSTRUCTIONS FOR PREPARATION |
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Purpose: This form is used to amend the existing promissory note or assumption agreement and set forth the terms and conditions for borrower(s) participating in the Disaster Set-Aside (DSA) Program. The agency completes the form. It is then signed by the borrower(s) and attached to the promissory note or assumption agreement. A separate set-aside addendum is prepared for each promissory note or assumption agreement. Four signature lines are provided. If additional signature lines are required, a duplicate addendum may need to be prepared. |
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Handbook Reference: 5-FLP |
Number of Copies: Original and Two |
Signatures Required: Original is signed by the borrowers with both copies conformed (/s/). All parties (entity & individual) that signed the promissory note or assumption agreement are required to sign an addendum. |
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Distribution of Copies: Original to fireproof safe, attached to the reference promissory note. One copy to the official agency file, attached to the copy of the reference promissory note. The second copy is delivered to the borrower. |
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Automation-Related Transactions: (Instructions for writers: provide only the information required, i.e. ADPS TC 3K. If no automation actions are required, insert N/A) ADPS – 5S |
Fld Name /
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Instruction |
1 Name |
Enter the name as it appears on the promissory note associated with the set-aside |
2 Full Case Number |
Enter the 2 digit number assigned to your state farm loan program accounts (non-FIPS); the 3 digit number (beginning with 0) assigned to your county farm loan program accounts (Non-FIPS); and the 9 digit social security or tax identification number assigned to the account.
The full case number is required as this document is used as a source document for ADPS transaction 5S. |
3A Fund Code |
Enter the Fund Code of the promissory note or assumption agreement associated with the set-aside. |
3B Loan Number |
Enter the Loan Number of the promissory note or assumption agreement associated with the set-aside. |
3C Date |
Enter the date as it appears on the promissory note or assumption agreement associated with the set-aside. |
3D Amount |
Enter the amount of the promissory note or assumption agreement associated with the set-aside. This is the original, face value of the note and not an undisbursed amount or unpaid balance. |
4A Disaster Designation Number |
Enter the disaster designation number as assigned to the disaster declaration. |
4B Date of Scheduled Installment |
Enter the date the installment being set aside was/is due. |
4C Amount of Installment Set-aside |
Enter the Amount of the installment being set-aside. This amount cannot exceed the amount due as shown on the promissory note or assumption agreement associated with the set-aside. It may, however, be less than the installment amount if the borrower is able to pay a part of the installment due, or has already paid a part of the installment. |
5A-8A Borrower’s Name |
Enter the name of the borrower or individually liable party that will sign/execute this addendum. Four signature lines are provided. If additional signature lines are required, a duplicate addendum may need to be prepared. |
5B – 8B Signature |
The borrower or individually liable party will sign/execute this addendum. |
5C – 8C Date |
Enter the date the borrower or individually liable party will sign/execute this addendum. |
File Type | application/vnd.openxmlformats-officedocument.wordprocessingml.document |
File Title | Instructions for Form FSA-2501 |
Author | mike.cumpton |
File Modified | 0000-00-00 |
File Created | 2023-09-03 |