Exhibit B to Subpart A of Part 1902 - United States Department of Agriculture, Farmers Home Administration or Its Successor Agency Under Public Law 103-354 - Interest-Bearing Deposit Agreement
7:12.1.2.7.12.1.1.18.24 :
Exhibit B to Subpart A of Part 1902 - United States Department of
Agriculture, Farmers Home Administration or Its Successor Agency
Under Public Law 103-354 - Interest-Bearing Deposit Agreement
BECAUSE certain funds of _____ referred to as the “Depositor,”
are now on deposit with the _____, referred to as the “Financial
Institution,” under a Deposit Agreement, dated ___________, 20__,
providing for supervision by the United States of America, acting
through the Farmers Home Administration or its successor agency
under Public Law 103-354, referred to as the “Government,” which
Deposit Agreement grants to the Government security and/or other
interest in the funds covered by that Deposit Agreement, and
BECAUSE certain of these funds are not now required for
immediate disbursement and it is the desire of the Depositor to
place these funds in interest-bearing deposits with the Financial
Institution:
THEREFORE, the Depositor and the Government authorize and direct
the Financial Institution to place ____ Dollars ($____) of the
funds subject to that Deposit Agreement in interest-bearing
deposits as follows:
____ for a period of _____ months at _____% interest.
____ for a period of _____ months at _____% interest.
____ for a period of _____ months at _____% interest.
These interest-bearing deposits and the income earned on them at
all times shall be considered a part of the account covered by said
Deposit Agreement except that the right of the Depositor and the
Government to jointly withdraw all or a portion of the funds in the
account covered by the Deposit Agreement by an order of the
Depositor countersigned by a representative of the Government, and
the right of the Government to make written demand for the balance
or any portion of the balance, is modified by the above time
deposit maturity schedule. The evidence of such time deposits shall
be issued in the names of the Depositor and the Farmers Home
Administration or its successor agency under Public Law
103-354.
A copy of this Agreement shall be attached to and become a part
of each certificate, passbook, or other evidence of deposit that
may be issued to represent such interest-bearing deposits.
Executed this _______ day of _______, 20__.
UNITED STATES OF AMERICA By: County Supervisor Farmers Home
Administration or its successor agency under Public Law 103-354
U.S. Department of Agriculture (Depositor) By: Title:
Accepted on the above terms and conditions this ______ day of
________, 20__.
(Financial Institution) (Office or Branch) By: Title: [53 FR 35671,
Sept. 14, 1988, as amended at 55 FR 21524, May 25, 1990; 70 FR
59228, Oct. 12, 2005]