| Show FEDERAL EUERAL FARM FAR LOANS Five ho and amI One Unit Per Pcr Cent Terms Cent Terms Five FI u to Tl Thirty-Five Thirty c Years 1 National Farm Loan Association Association tion lon of ot I 1 Millard lard County is County is are chartered bartered and nd authorized d by the tho federal Farm Loan Board Doard to place loans on farms farms in this county with funds supplied by the Federal Land Bank Dank of ot Berkeley and some information information tion ion regarding this easy and economical cal way of carrying a loan may be bo of ot interest to prospective borrowers Who ho Ma l Borrow Loans Borrow Loans are made to actual f farmers only and on farms of a a. size ize and of ot sufficient production to maintain the family of the borrower borrow borrow- er r and also provide sufficient income to o meet they the semi-annual semi payment on onI I the he loan Amount The Amount The amount that may be ne borrowed on properties is 50 per cent of ot the appraised value of the land plus 20 per cent of f the permanent Insurable improvements a and d to arrive arrive arrive ar ar- rive at this th value the property must be twice first by the association association association as as- loan oan committee and then by bya a Federal Land Bank appraiser No loan oan may exceed Time The Time The time a loan may run is set by the applicant In most cases and may be for not not less than five years rears nor more than thirty five years Only regular payments may be made during the first five years but after that time tim the borrower is is permitted to pay off oft his loans as fast as he may desire but no loan can run for a longer time than that mentioned by bythe bythe bythe the borrower in his application Purposes The Purposes The Federal Land Bank and the requires a first mortgage money may bo be used In various ways but for useful purposes purposes only and nd the purposes for which the money is to tobe tobe be je used must be clearly stated in the ther r and some of ot the purposes pie pie- re To purchase land for agricultural agricultural agricultural tural purposes Removing incumbrances against the property Providing improvements such as buildings fences etc Developing water for irrigation I ff Purchase of liv livestock implements ments fertilizer etc I l Expenses There Expenses There are some necessary necessary I I sary expenses connected with carryIng carrying carrying carry carry- ing a loan through but these expenses expenses expenses ex ex- ex- ex are no source of ot profit proUt to either the land bank or the r tion tion These charges wi will 1 be explained to you when you file your application application application tion with the secretary of your asso asso- The land bank also makes a moderate charge for legal expenses ses Bes connected with drawing the papers papers papers pa pa- pers examining etc The Tho applicant applicant applicant ap ap- ap- ap must of course take care caro of any title o 0 charges Stock Stock Each Each applicant Is required to subscribe for stock amounting amounting Ito to to 5 per cent of the loan but on this stock there will be paid dividends throughout the time life-time of tho the loan and the stock Is then used to pay payoff oft off offa a part of the loan Payments Payments Payments-Payments Payments are made semi annually and In addition to the Interest a small part of the principal Is also r repaid paid h In such a way that at atthe atthe atthe the end of the term both interest and principal have been paid in full AppU Applications Application blanks and all required Information will be I furnished by the treasurer secretary-treasurer of associations listed below or by bythe bythe bythe the Federal Land Bank of Berkeley California Leamington N. N F F. F L L. A. A Hyrum E. E Smith Treasurer Secretary Leamington Leaming Leaming- ton Meadow and Kanosh A. A Ezra Gull Treasurer Secretary-Treasurer Meadow |
