Rule 4.14.309 - REPAYMENT OF LOANS(1) The beginning farmer's/rancher's repayment obligations, under the loan agreement and promissory note, are subject to mandatory prepayment in certain events which are set forth in the loan agreement.(2) The beginning farmer/rancher repayment obligations under the loan agreement and promissory note are subject to optional prepayment under terms and conditions to be agreed upon between the beginning farmer/rancher and the financial institution. The documents and the structure of the financing require any installment payment made under the loan agreement and promissory note to be applied against a like installment payable under the bond and the financial institution agrees that any such prepayments will be so applied to the payment of the bond.NEW, 1984 MAR p. 363, Eff. 3/1/84; AMD, 2001 MAR p. 1723, Eff. 9/7/01.80-12-103, MCA; IMP, 80-12-103, MCA;