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7 U.S.C. § 1983b — Prompt approval of loans and loan guarantees
Federal law — U.S. Code and appendices · legal_authorities
**(a) Applications; time for action by Secretary; notice; statement of reasons**
(1) The Secretary shall approve or disapprove an application for a loan or loan guarantee made under this chapter, and notify the applicant of such action, not later than 60 days after the Secretary has received a complete application for such loan or loan guarantee.
(2)
(A) If an application for a loan or loan guarantee under this chapter (other than under subchapter II) is incomplete, the Secretary shall inform the applicant of the reasons such application is incomplete not later than 20 days after the Secretary has received such application.
(B)
(i) Not later than 10 calendar days after the Secretary receives an application for an operating loan or loan guarantee under subchapter II, the Secretary shall notify the applicant of any information required before a decision may be made on the application. On receipt of an application, the Secretary shall request from other parties such information as may be needed in connection with the application.
(ii) Not later than 15 calendar days after the date an agency of the Department of Agriculture receives a request for information made pursuant to clause (i), the agency shall provide the Secretary with the requested information.
(iii) If, not later than 20 calendar days after the date a request is made pursuant to clause (i) with respect to an application, the Secretary has not received the information requested, the Secretary shall notify the applicant and the district office of the Farmers Home Administration, in writing, of the outstanding information.
(iv) A county office shall notify the district office of the Farmers Home Administration of each application for an operating loan or loan guarantee under subchapter
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Source location: Title 7, Chapter 50, § 1983b; chapter-050-agricultural-credit.md
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**(a) Applications; time for action by Secretary; notice; statement of reasons**
(1) The Secretary shall approve or disapprove an application for a loan or loan guarantee made under this chapter, and notify the applicant of such action, not later than 60 days after the Secretary has received a complete application for such loan or loan guarantee.
(2)
(A) If an application for a loan or loan guarantee under this chapter (other than under subchapter II) is incomplete, the Secretary shall inform the applicant of the reasons such application is incomplete not later than 20 days after the Secretary has received such application.
(B)
(i) Not later than 10 calendar days after the Secretary receives an application for an operating loan or loan guarantee under subchapter II, the Secretary shall notify the applicant of any information required before a decision may be made on the application. On receipt of an application, the Secretary shall request from other parties such information as may be needed in connection with the application.
(ii) Not later than 15 calendar days after the date an agency of the Department of Agriculture receives a request for information made pursuant to clause (i), the agency shall provide the Secretary with the requested information.
(iii) If, not later than 20 calendar days after the date a request is made pursuant to clause (i) with respect to an application, the Secretary has not received the information requested, the Secretary shall notify the applicant and the district office of the Farmers Home Administration, in writing, of the outstanding information.
(iv) A county office shall notify the district office of the Farmers Home Administration of each application for an operating loan or loan guarantee under subchapter II that is pending more than 45 days after receipt, and the reasons the application is pending.
(v) A district office that receives a notice provided under clause (iv) with respect to an application shall immediately take steps to ensure that final action is taken on the application not later than 15 days after the date of the receipt of the notice.
(vi) The district office shall report to the State office of the Farmers Home Administration on each application for an operating loan or loan guarantee under subchapter II that is pending more than 45 days after receipt by the county committee, and the reasons the application is pending.
(vii) Each month, the Secretary shall notify the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate, on a State-by-State basis, as to each application for an operating loan or loan guarantee under subchapter II of this chapter on which final action had not been taken within 60 calendar days after receipt by the Secretary, and the reasons final action had not been taken.
(3) If an application for a loan or loan guarantee under this chapter is disapproved by the Secretary, the Secretary shall state the reasons for the disapproval in the notice required under paragraph (1).
(4)
(A) Notwithstanding paragraph (1), each application for a loan or loan guarantee under [section 1932(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1932/a&num=0&edition=prelim), or for a loan under [section 1926(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1926/a&num=0&edition=prelim), that is to be disapproved by the Secretary solely because the Secretary lacks the necessary amount of funds to make the loan or guarantee shall not be disapproved but shall be placed in pending status.
(B) The Secretary shall retain the pending application and reconsider the application beginning on the date that sufficient funds become available.
(C) Not later than 60 days after funds become available regarding each pending application, the Secretary shall notify the applicant of the approval or disapproval of funding for the application.
**(b) Loan proceeds; time for receipt**
(1) Except as provided in paragraph (2), if an application for an insured loan under this chapter is approved by the Secretary, the Secretary shall provide the loan proceeds to the applicant not later than 15 days (or such longer period as the applicant may approve) after the application for the loan is approved by the Secretary.
(2) If the Secretary is unable to provide the loan proceeds to the applicant within such 15-day period because sufficient funds are not available to the Secretary for such purpose, the Secretary shall provide the loan proceeds to the applicant as soon as practicable (but in no event later than 15 days unless the applicant agrees to a longer period) after sufficient funds for such purpose become available to the Secretary.
**(c) Reconsideration of applications; time for action by Secretary** If an application for a loan or loan guarantee under this chapter is disapproved by the Secretary, but such action is subsequently reversed or revised as the result of an appeal within the Department of Agriculture or to the courts of the United States and the application is returned to the Secretary for further consideration, the Secretary shall act on the application and provide the applicant with notice of the action within 15 days after return of the application to the Secretary.
**(d) Approved lender designation applications; time for decision by Secretary** In carrying out the approved lender program established by exhibit A to subpart B of part 1980 of title 7, Code of Federal Regulations, the Secretary shall ensure that each request of a lending institution for designation as an approved lender under such program is reviewed, and a decision made on the application, not later than 15 days after the Secretary has received a complete application for such designation.
**(e) Processing loan applications; personnel and other resources made available; use of authorities of law**
(1) As soon as practicable after December 23, 1985, the Secretary shall take such steps as are necessary to make personnel, including the payment of overtime for such personnel, and other resources of the Department of Agriculture available to the Farmers Home Administration as are sufficient to enable the Farmers Home Administration to expeditiously process loan applications that are submitted by farmers and ranchers.
(2) In carrying out paragraph (1), the Secretary may use any authority of law provided to the Secretary, including—
(A) the Agricultural Credit Insurance Fund established under [section 1929 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1929&num=0&edition=prelim); and
(B) the employment procedures used in connection with the emergency loan program established under subchapter III.
**(f) Graduation of seasoned direct loan borrowers to loan guarantee program**
(1) As used in this subsection:
(A) The term “approved lender” means a lender approved prior to October 28, 1992, by the Secretary under the approved lender program established by exhibit A to subpart B of part 1980 of title 7, Code of Federal Regulations (as in effect on January 1, 1991), or a lender certified under [section 1989 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1989&num=0&edition=prelim).
(B) The term “seasoned direct loan borrower” means a borrower receiving a direct loan under this chapter who has been classified as “commercial” or “standard” under subpart W of part 2006 of the Instruction Manual (as in effect on January 1, 1991).
(2) The Secretary, or a contracting third party, shall annually review under [section 2006b of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2006b&num=0&edition=prelim) the loans of each seasoned loan borrower. If, based on the review, it is determined that a borrower would be able to obtain a loan, guaranteed by the Secretary, from a commercial or cooperative lender at reasonable rates and terms for loans for similar purposes and periods of time, the Secretary shall assist the borrower in applying for the commercial or cooperative loan.
(3) In accordance with [section 2006d of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2006d&num=0&edition=prelim), the Secretary shall prepare a prospectus on each seasoned direct loan borrower determined eligible to obtain a guaranteed loan. The prospectus shall contain a description of the amounts of loan guarantee and interest assistance that the Secretary will provide to the seasoned direct loan borrower to enable the seasoned direct loan borrower to carry out a financially viable farming plan if a guaranteed loan is made.
(4) **Verification.—**
(A) *In general.—* — The Secretary shall provide a prospectus of a seasoned direct loan borrower to each approved lender whose lending area includes the location of the seasoned direct loan borrower.
(B) *Notification.—* — The Secretary shall notify each borrower of a loan that a prospectus has been provided to a lender under subparagraph (A).
(C) *Credit extended.—* — If the Secretary receives an offer from an approved lender to extend credit to the seasoned direct loan borrower under terms and conditions contained in the prospectus, the seasoned direct loan borrower shall not be eligible for an insured loan from the Secretary under subchapter I or II, except as otherwise provided in this subsection.
(5) If the Secretary is unable to provide loan guarantees and, if necessary, interest assistance to the seasoned direct loan borrower under this subsection in amounts sufficient to enable the seasoned direct loan borrower to borrow from commercial sources the amount required to carry out a financially viable farming plan, or if the Secretary does not receive an offer from an approved lender to extend credit to a seasoned direct loan borrower under the terms and conditions contained in the prospectus, the Secretary shall make an insured loan to the seasoned direct loan borrower under subchapter I or II, whichever is applicable.
(6) To the extent necessary for the borrower to obtain a loan, guaranteed by the Secretary, from a commercial or cooperative lender, the Secretary shall provide interest rate reductions as provided for under [section 1999 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1999&num=0&edition=prelim).
**(g) Simplified application forms for loan guarantees**
(1) **In general** — The Secretary shall provide to lenders a short, simplified application form for guarantees under this chapter of—
(A) farmer program loans the principal amount of which is $125,000 or less; and
(B) business and industry guaranteed loans under [section 1932(a)(2)(A) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1932/a/2/A&num=0&edition=prelim) the principal amount of which is—
(i) in the case of a loan guarantee made during fiscal year 2002 or 2003, $400,000 or less; and
(ii) in the case of a loan guarantee made during any subsequent fiscal year—
(I) $400,000 or less; or
(II) if the Secretary determines that there is not a significant increased risk of a default on the loan, $600,000 or less.
(2) **Water and waste disposal grants and loans** — The Secretary shall develop an application process that accelerates, to the maximum extent practicable, the processing of applications for water and waste disposal grants or direct or guaranteed loans under paragraph (1) or (2) of [section 1926(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1926/a&num=0&edition=prelim) the grant award amount or principal loan amount, respectively, of which is $300,000 or less.
(3) **Administration** — In developing an application under this subsection, the Secretary shall—
(A) consult with commercial and cooperative lenders; and
(B) ensure that—
(i) the form can be completed manually or electronically, at the option of the lender;
(ii) the form minimizes the documentation required to accompany the form;
(iii) the cost of completing and processing the form is minimal; and
(iv) the form can be completed and processed in an expeditious manner.
**(h) Simplified application forms** Except as provided in subsection (g)(2), the Secretary shall, to the maximum extent practicable, develop a simplified application process, including a single page application if practicable, for grants and relending authorized under sections 1926, 1926c, 1926d, 1926e, 1932(b), 1932(c), 1932(e), 1936b, 2008p, and 2008s of this title.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The Secretary shall enter into contracts to provide educational training to all borrowers of farmer program direct loans made under this chapter in financial and farm management concepts associated with commercial farming.
**(b) Contract**
(1) **In general** — The Secretary may contract with State or private providers of farm management and credit counseling services (including a community college, the extension service of a State, a State department of agriculture, or a nonprofit organization) to carry out this section.
(2) **Consultation** — The Secretary may consult with the chief executive officer of a State concerning the identity of the contracting organization and the process for contracting.
**(c) Eligibility for loans**
(1) **In general** — Subject to paragraph (2), to be eligible to obtain a direct loan under this chapter, a borrower must obtain management assistance under this section, appropriate to the management ability of the borrower (as determined by the appropriate county committee during the determination of eligibility for the loan).
(2) **Loan conditions** — The need of a borrower who satisfies the criteria set out in section 1922(a)(1)(B) or 1941(a)(1)(B) of this title for management assistance under this section shall not be cause for denial of eligibility of the borrower for a direct loan under this chapter.
**(d) Guidelines and curriculum** The Secretary shall issue regulations establishing guidelines and curriculum for the borrower training program established under this section.
**(e) Payment** A borrower shall pay for training received under this section, and may use funds from operating loans made under subchapter II to pay for the training.
**(f) Waivers**
(1) **In general** — The Secretary may waive the require
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 2006b
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Authorization** There is authorized to be appropriated to the Secretary such sums as the Congress may from time to time determine to be necessary to enable the Secretary to carry out the purposes of this chapter and for the administration of assets transferred to the Farmers Home Administration or the Rural Development Administration.
**(b) Sale by lender and any holder of guaranteed portion of loan pursuant to regulations governing such sales; limitations; issuance of pool certificates representing ownership of guaranteed portion of guaranteed loan; terms and conditions, etc.; reporting requirements**
(1)
(A) The guaranteed portion of any loan made under this chapter may be sold by the lender, and by any subsequent holder, in accordance with regulations governing such sales as the Secretary shall establish, subject to the following limitations:
(i) All fees due the Secretary with respect to a guaranteed loan are to be paid in full before any sale.
(ii) The loan is to have been fully disbursed to the borrower before the sale.
(B) After a loan is sold in the secondary market, the lender shall remain obligated under its guarantee agreement with the Secretary, and shall continue to service the loan in accordance with the terms and conditions of such agreement.
(C) The Secretary shall develop such procedures as are necessary for the facilitation, administration, and promotion of secondary market operations, and for determining the increase of farmers’ access to capital at reasonable rates and terms as a result of secondary market operations.
(D) This subsection shall not be interpreted to impede or extinguish the right of the borrower or the successor in interest to such borrower to prepay (in whole or in part) any loan made under this chapter,
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 1989
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section 2009ee, Pub. L. 107–171, title VI, § 6301, May 13, 2002, 116 Stat. 421, defined terms.
Section 2009ee–1, Pub. L. 107–171, title VI, § 6302, May 13, 2002, 116 Stat. 422, related to SEARCH grant program. See [section 1926 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1926&num=0&edition=prelim).
Section 2009ee–2, Pub. L. 107–171, title VI, § 6303, May 13, 2002, 116 Stat. 424, related to annual report on projects.
Section 2009ee–3, Pub. L. 107–171, title VI, § 6304, May 13, 2002, 116 Stat. 424, related to funding.
#### Codification
Pub. L. 110–234 and Pub. L. 110–246 repealed this subchapter. Pub. L. 110–234 was repealed by section 4(a) of Pub. L. 110–246.
#### Effective Date of Repeal
Repeal of this subchapter and repeal of Pub. L. 110–234 by Pub. L. 110–246 effective May 22, 2008, the date of enactment of Pub. L. 110–234, see section 4 of Pub. L. 110–246, set out as an Effective Date note under [section 8701 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section8701&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 1921
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Federal law — U.S. Code and appendices · legal_authorities
Notwithstanding any other provision of this chapter, the Secretary shall ensure that farm loan guarantee programs carried out under this chapter are designed so as to be responsive to borrower and lender needs and to include provisions under reasonable terms and conditions for advances, before completion of the liquidation process, of guarantee proceeds on loans in default.
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 1999
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** A contract of insurance or guarantee executed by the Secretary under this chapter shall be an obligation supported by the full faith and credit of the United States.
**(b) Contestability** A contract of insurance or guarantee executed by the Secretary under this chapter shall be incontestable except for fraud or misrepresentation that the lender or any holder—
(1) has actual knowledge of at the time the contract or guarantee is executed; or
(2) participates in or condones.
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 1929
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Federal law — U.S. Code and appendices · legal_authorities
The Secretary shall provide adequate training to employees of the Farmers Home Administration on credit analysis and financial and farm management to—
(1) better acquaint the employees with what constitutes adequate financial data on which to base a direct or guaranteed loan approval decision; and
(2) ensure proper supervision of farmer program loans.
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 2006d
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions** In this section:
(1) **Agricultural commodity** — The term “agricultural commodity” has the meaning given the term in [section 5602 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section5602&num=0&edition=prelim).
(2) **Geographically disadvantaged farmer or rancher** — The term “geographically disadvantaged farmer or rancher” has the meaning given the term in section 10906(a) of the Farm Security and Rural Investment Act of 2002 ([7 U.S.C. 2204](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2204&num=0&edition=prelim) note; Public Law 107–171).
**(b) Authorization** Subject to the availability of funds under subsection (d), the Secretary may provide geographically disadvantaged farmers or ranchers direct reimbursement payments for activities described in subsection (c).
**(c) Transportation**
(1) **In general** — Subject to paragraphs (2) and (3), the Secretary may provide direct reimbursement payments to a geographically disadvantaged farmer or rancher to transport an agricultural commodity, or inputs used to produce an agricultural commodity, during a fiscal year.
(2) **Proof of eligibility** — To be eligible to receive assistance under paragraph (1), a geographically disadvantaged farmer or rancher shall demonstrate to the Secretary that transportation of the agricultural commodity or inputs occurred over a distance of more than 30 miles, as determined by the Secretary.
(3) **Amount**
(A) *In general* — Subject to paragraph (2), the amount of direct reimbursement payments made to a geographically disadvantaged farmer or rancher under this section for a fiscal year shall equal the product obtained by multiplying—
(i) the amount of costs incurred by the geographically di
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 8701
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The Secretary of Agriculture may, on the application of the borrower of a loan or loans made under sections 5136 to 5143 of this title, reduce the unpaid principal balance of such loan or loans to the current fair market value of the land purchased with the proceeds of the loan or loans if—
(1) the fair market value of the land has declined by at least 25 percent since such land was purchased by the borrower;
(2) the land has been held by the borrower for a period of at least 5 years; and
(3) the Secretary of the Interior finds that the borrower has insufficient income to both repay the loan or loans and provide normal tribal governmental services.
**(b) Fair market value**
(1) **Appraisal** — Current fair market value under subsection (a) of this section shall be determined through an appraisal by an independent qualified fee appraiser, selected by mutual agreement between the borrower and the Secretary of Agriculture.
(2) **Costs** — The cost of appraisals undertaken under paragraph (1) shall be paid by the borrower.
**(c) Appeals** Decisions of the Secretary of Agriculture under this section shall be appealable in accordance with the provisions of section 333B 11 See References in Text note below. of the Consolidated Farm and Rural Development Act ([7 U.S.C. 1983b](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1983b&num=0&edition=prelim)).
**(d) Future applications** A borrower that had a loan or loans reduced under this section shall not submit an application for another reduction on such loan or loans for a period of 5 years after the initial reduction.
Source: Supplied U.S. Code snapshot — release unconfirmed · 25 U.S.C. § 5142
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Preservation and protection of security, lien, or priority of lien securing loan** The Secretary is authorized and empowered to make advances, without regard to any loan or total indebtedness limitation, to preserve and protect the security for or the lien or priority of the lien securing any loan or other indebtedness owing to, insured by, or acquired by the Secretary under this chapter or under any other programs administered by the Farmers Home Administration or the Rural Development Administration; to bid for and purchase at any execution, foreclosure, or other sale or otherwise to acquire property upon which the United States has a lien by reason of a judgment or execution arising from, or which is pledged, mortgaged, conveyed, attached, or levied upon to secure the payment of, any such indebtedness whether or not such property is subject to other liens, to accept title to any property so purchased or acquired; and to sell, manage, or otherwise dispose of such property as hereinafter provided.
**(b) Operation or lease of realty** Except as provided in subsections (c) and (e), real property administered under the provisions of this chapter may be operated or leased by the Secretary for such period or periods as the Secretary may deem necessary to protect the Government’s investment therein.
**(c) Sale of property**
(1) **In general** — Subject to this subsection and subsection (e)(1)(A), the Secretary shall offer to sell real property that is acquired by the Secretary under this chapter using the following order and method of sale:
(A) *Advertisement* — Not later than 15 days after acquiring real property, the Secretary shall publicly advertise the property for sale.
(B) *Beginning farmer or rancher; socially disadvantaged farmer or rancher*
(i)
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions** As used in this section:
(1) The term “Administrator” means the Administrator of the Small Business Administration.
(2) The term “borrower-owner” means—
(A) a borrower of a loan made or insured by the Secretary or the Administrator who meets the eligibility requirements of subsection (c)(1); or
(B) in any case in which an owner of homestead property pledged the property to secure the loan and the owner is different than the borrower, the owner.
(3) The term “farm program loan” means any loan made by the Administrator under the Small Business Act ([15 U.S.C. 631](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section631&num=0&edition=prelim) et seq.) for any of the purposes authorized for loans under subchapters 11 So in original. Probably should be “subchapter”. I or II.
(4) The term “homestead property” means the principal residence and adjoining property possessed and occupied by a borrower-owner specified in paragraph (2) of this subsection, including a reasonable number of farm outbuildings located on the adjoining land that are useful to the occupants of the homestead, and no more than 10 acres of adjoining land that is used to maintain the family of the individual.
(5) The term “Secretary” means the Secretary of Agriculture.
**(b) Occupancy of homestead upon foreclosure, bankruptcy, or liquidation; appraisal; period of occupancy**
(1) The Secretary or the Administrator shall, on application by a borrower-owner who meets the eligibility requirements of subsection (c)(1), permit the borrower-owner to retain possession and occupancy of homestead property under the terms set forth, and until the action described in this section has been completed, if—
(A) the Secretary forecloses, holds in inventory on January
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 2001
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