Authorization. RD is authorized to execute the necessary releases and satisfactions and return security instruments and related documents to borrowers. Satisfaction and release of security documents takes place:
Upon receipt of payment in full of all amounts owed to the Government including any amounts owed to the loan insurance account, subsidy recapture amounts, all loan advances and/or other charges to the borrower's account;
Upon verification that the amount of payment received is sufficient to pay the full amount owed by the borrower; or
When a compromise or adjustment offer has been accepted and approved by the appropriate Government official in full settlement of the account and all required funds have been paid.
[Reserved]
Lost note. If the original note is lost RD will give the borrower an affidavit of lost note so that the release or satisfaction may be processed.
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