The Lender must ensure that all loan documentation is fully and accurately completed, and that appropriate records are kept. Failure to accurately and completely document the FARM loan and properly perfect the Lender's security interest in collateral for that loan may result, at WHEDA's discretion, in termination or reduction in the amount of the guarantee, if a guarantee payment is requested.
The Lender is expected to maintain a complete file on the Farmer. The file must include the original Note and all security documents.
WHEDA reserves the right to audit the Lender's file as it deems necessary.
