The Lender is responsible for monitoring and servicing the FARM loan in the same manner that it would monitor and service its portfolio of conventional loans and consistent with the Lender's responsibilities pursuant to this Manual, Participating Lender's Agreement and the loan documents.
Provide WHEDA with access to the Farmer's loan file, as well as other records relative to the Farmer's loan file, if requested.
Notify WHEDA within 30 days if there are adverse changes in a Farmer's financial situation or if there is an occurrence or likelihood of an occurrence that would result in the default of the FARM loan.
Prior to taking any action against the Farmer, the Lender must notify WHEDA of the situation. WHEDA understands that on some rare occasions, time is of the essence and prior notification may not always be possible. The Lender is expected, however, to act expeditiously when informing WHEDA of the actions taken. If timely notification is not followed and WHEDA discovers that action, or inaction, of the Lender jeopardized WHEDA's interest in the loan, WHEDA reserves the right to terminate or reduce the level of the guarantee. Actions which require immediate notification to WHEDA include, but are not limited to:
 | Making or consenting to any alteration in the terms of any loan document(s), including accelerating the maturity of the Note |
| Making or consenting to release(s) of collateral |
| Taking legal action necessary to enforce any loan document(s) |
| Waiving any claim against the Farmer, guarantor, obligor or standby creditor arising out of any loan document(s) |
| Assigning Lender's or Farmer's rights or obligations under the loan document(s) |
| Knowledge of any misrepresentations or fraudulent acts committed by the Farmer or guarantor relative to the FARM loan |
