Section 766.201 - Shared Appreciation Agreement(a)When a SAA is required. The Agency requires a borrower to enter into a SAA with the Agency covering all real estate security when the borrower:(1) Owns any real estate that serves or will serve as loan security; and(2) Accepts a writedown in accordance with § 766.111 .(b)When SAA is due. The borrower must repay the calculated amount of shared appreciation after a term of 5 years from the date of the writedown, or earlier if:(1) The borrower sells or conveys all or a portion of the Agency's real estate security, unless real estate is conveyed upon the death of a borrower to a spouse who will continue farming;(2) The borrower repays or satisfies all FLP loans;(3) The borrower ceases farming; or(4) The Agency accelerates the borrower's loans.