B-128403, AUG. 27, 1956

B-128403: Aug 27, 1956

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TO THE SECRETARY OF AGRICULTURE: REFERENCE IS MADE TO THE LETTERS OF JUNE 21 AND AUGUST 14. REQUEST IS MADE PURSUANT TO THE PROVISIONS OF 28 U.S.C. 2410 (D) FOR A CERTIFICATE OF RELEASE OF THE THE GOVERNMENT'S JUNIOR LIEN ON REAL PROPERTY LOCATED IN BIG HORN COUNTY. THIS MORTGAGE WAS GIVEN TO SECURE PAYMENT OF THE PRINCIPAL BALANCE OF $3. THE BALANCE DUE IS $3. IN ADDITION TO THE GOVERNMENT'S LIEN THE PROPERTY IS ENCUMBERED BY TWO SUPERIOR LIENS. IN VIEW OF THE FINDING THAT THE FAIR MARKET VALUE OF THE PROPERTY IS BETWEEN $5. IF THE PROPERTY WERE SOLD. THE CERTIFICATE OF RELEASE IS ENCLOSED.

B-128403, AUG. 27, 1956

TO THE SECRETARY OF AGRICULTURE:

REFERENCE IS MADE TO THE LETTERS OF JUNE 21 AND AUGUST 14, 1956, FROM K. L. SCOTT, DIRECTOR, AGRICULTURAL CREDIT SERVICES AND M. H. HOLLIDAY, JR., ACTING ADMINISTRATOR OF THE FARMERS HOME ADMINISTRATION, RESPECTIVELY. REQUEST IS MADE PURSUANT TO THE PROVISIONS OF 28 U.S.C. 2410 (D) FOR A CERTIFICATE OF RELEASE OF THE THE GOVERNMENT'S JUNIOR LIEN ON REAL PROPERTY LOCATED IN BIG HORN COUNTY, WYOMING.

THE GOVERNMENT'S JUNIOR LIEN AROSE FROM A REAL ESTATE MORTGAGE EXECUTED BY GLEN S. AND HELEN M. HOPKIN IN FAVOR OF THE UNITED STATES OF AMERICA ACTING THROUGH THE ADMINISTRATOR OF THE FARMERS HOME ADMINISTRATION. THIS MORTGAGE WAS GIVEN TO SECURE PAYMENT OF THE PRINCIPAL BALANCE OF $3,713.49 ON A PRODUCTION AND SUBSISTENCE LOAN MADE PURSUANT TO TITLE II OF THE BANKHEAD AND JONES FARM TENANT ACT, AS AMENDED. CURRENTLY, THE BALANCE DUE IS $3,713.49 PLUS INTEREST AT 5 PERCENT. IN ADDITION TO THE GOVERNMENT'S LIEN THE PROPERTY IS ENCUMBERED BY TWO SUPERIOR LIENS; ONE, A REAL ESTATE MORTGAGE HELD BY PETITIONERS, HENRY AND ELSIE HOPKIN, SECURING A PRINCIPAL BALANCE OF $6,000, PLUS $1,000 INTEREST, AND THE OTHER, A COUNTY TAX LIEN IN THE AMOUNT OF $160.34. THE SENIOR LIENHOLDERS, HENRY AND ELSIE HOPKIN, DESIRE TO CIRCUMVENT A FORECLOSURE PROCEEDING BY OBTAINING A CERTIFICATE RELEASING THE GOVERNMENT'S LIEN.

IN VIEW OF THE FINDING THAT THE FAIR MARKET VALUE OF THE PROPERTY IS BETWEEN $5,000 AND $5,500 AND, IF THE PROPERTY WERE SOLD, THE PROCEEDS WOULD BE INSUFFICIENT TO WHOLLY OR PARTIALLY SATISFY THE GOVERNMENT'S JUNIOR LIEN, AND SINCE IT APPEARS THAT THERE HAS BEEN SUFFICIENT COMPLIANCE WITH THE REQUIREMENTS OF THE STATUTE, THE CERTIFICATE OF RELEASE IS ENCLOSED.