Conservation Contract.

CFR · 2024-01-01 · US · Title 7

(a) (2) A current or financially distressed borrower may request a Conservation Contract at any time prior to becoming 90 days past due. (3) A delinquent borrower may request a Conservation Contract during the same 60-day time period in which the borrower may apply for primary loan servicing. The borrower eligibility requirements in § 766.104 will apply. (4) A Conservation Contract may be established for conservation, recreation, and wildlife purposes. (5) The land under a Conservation Contract cannot be used for the production of agricultural commodities during the term of the contract. (6) Only loans secured by the real estate that will be subject to the Conservation Contract may be considered for debt reduction under this section. (b) (1) Wetlands or highly erodible lands; and (2) Uplands that meet any one of the following criteria: (i) Land containing aquatic life, endangered species, or wildlife habitat of local, State, tribal, or national importance; (ii) Land in 100-year floodplains; (iii) Areas of high water quality or scenic value; (iv) Historic or cultural properties listed in or eligible for the National Register of Historic Places; (v) Aquifer recharge areas of local, regional, State, or tribal importance; (vi) Buffer areas necessary for the adequate protection of proposed Conservation Contract areas, or other areas enrolled in other conservation programs; (vii) Areas that contain soils generally not suited for cultivation; or (viii) Areas within or adjacent to Fe

official document · source cfr-2024 · id 7:§ 766.110