Montana Statutes
§ 76-15-546 — Terms And Conditions Of Loan
Montana·Title 76 LAND RESOURCES AND USE·Ch. 15 CONSERVATION DISTRICTS·Part 5 Financial Aspects of Conservation Districts Loan Program
76-15-546 . Terms and conditions of loan. A conservation practice loan is subject to the following terms and conditions:
(1)The district shall obtain a security interest in real estate that would be obtained by a reasonable, careful, and prudent lender.
(2)The term of the loan may not be greater than the life of the project and may not exceed 30 years.
(3)A current appraisal of real estate offered as security and a commitment for title insurance on that land must be secured by the borrower at the borrower's expense. All costs incident to the loan and loan closing must be paid by the borrower.
(4)A conservation practice must be completed according to United States natural resources conservation service standards and specifications, if applicable.
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Legislative History
En. Sec. 16, Ch. 473, L. 1983; amd. Sec. 283, Ch. 42, L. 1997; amd. Sec. 3, Ch. 141, L. 1997.
Nearby Sections
15
§ 76-15-1001
Power To Enter And Execute Contracts§ 76-15-1002
Restriction On Use Of Funds§ 76-15-1003
Reserved§ 76-15-1004
Repealed§ 76-15-1006
Advertisements§ 76-15-1007
Through 76-15-1010 Reserved§ 76-15-101
Legislative Determinations§ 76-15-1011
Exemptions From Advertising And Bidding§ 76-15-1012
Terms And Extensions§ 76-15-1013
Division Of Contracts Prohibited§ 76-15-1014
Cooperative Purchasing Contracts§ 76-15-1015
Services Contracts§ 76-15-102
Declaration Of Policy§ 76-15-103
Definitions