FARM Manual - SERVICING

C. SERVICING RESPONSIBILITIES

Servicing tasks required of the Lender will include, but are not limited to:

Creating and maintaining a loan file for each FARM loan

• Create, properly complete, and maintain all loan documents
• Keep written records of loan servicing activities, including: repayment records, financial reviews, site visits and inspections, and conversations and correspondence with Farmer
• Maintain valid and current security including, but not limited to: timely UCC filings, continuous insurance coverage and payment of real estate taxes, if applicable

	Collecting payments and appropriately applying to principal and interest and other obligations under the Note
	Performing periodic and/or annual site visits of the Farmer's operations
	Monitoring inventory and collateral. This includes an annual inspection of the collateral and a report to WHEDA on any adverse change(s) in the collateral
	Following up on all loan exceptions (i.e., covenant defaults)
	Monitoring loan for actual and potential default occurrences
	Reviewing and complying with terms of the FARM loan documents on a continuous basis