546 
‘‘(F) during the period of the occupancy of 
the homestead property, maintain the property 
in good condition; and 
‘‘(G) meet such other reasonable and nec-
essary terms and conditions as the Secretary 
may require. 
‘‘(2) DEFINITION OF FARMING OPERATIONS.— 
In subparagraphs (B) and (C) of paragraph (1), the 
term ‘farming operations’ includes rent paid by a 
lessee of agricultural land during a period in which 
the borrower-owner, due to circumstances beyond 
the control of the borrower-owner, is unable to ac-
tively farm the land. 
‘‘(3) TERMINATION OF RIGHTS.— 
‘‘(A) IN GENERAL.—For purposes of para-
graph (1)(E), the failure of the borrower-owner 
to make a timely rental payment shall con-
stitute cause for the termination of all rights of 
the borrower-owner to possession and occu-
pancy of the homestead property under this sec-
tion. 
‘‘(B) PROCEDURE FOR TERMINATION.—In 
effecting a termination under subparagraph 
(A), the Secretary shall— 
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‘‘(i) afford the borrower-owner or les-
see the notice and hearing procedural 
rights described in subtitle H of the De-
partment of Agriculture Reorganization 
Act of 1994 (7 U.S.C. 6991 et seq.); and 
‘‘(ii) comply with any applicable State 
and local law governing eviction of a per-
son from residential property. 
‘‘(4) RIGHTS OF BORROWER-OWNER.— 
‘‘(A) PERIOD OF OCCUPANCY.—Subject to 
subsection (b)(2), the period of occupancy al-
lowed the borrower-owner of homestead prop-
erty under this section shall be the period re-
quested in writing by the borrower-owner. 
‘‘(B) RIGHT TO REACQUIRE.— 
‘‘(i) IN GENERAL.—During the period 
the borrower-owner occupies the homestead 
property, the borrower-owner shall have a 
right to reacquire the homestead property 
on such terms and conditions as the Sec-
retary shall determine. 
‘‘(ii) SOCIALLY DISADVANTAGED BOR-
ROWER-OWNER.—During the period of oc-
cupancy of a borrower-owner who is a so-
cially disadvantaged farmer, the borrower- 
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owner or a member of the immediate fam-
ily of the borrower-owner shall have a right 
of first refusal to reacquire the homestead 
property on such terms and conditions as 
the Secretary shall determine. 
‘‘(iii) 
INDEPENDENT
APPRAISAL.— 
The Secretary may not demand a payment 
for the homestead property that is in ex-
cess of the current market value of the 
homestead property as established by an 
independent appraisal. 
‘‘(iv) CONDUCT
OF
APPRAISAL.—An 
independent appraisal under clause (iii) 
shall be conducted by an appraiser selected 
by the borrower-owner, or, in the case of a 
borrower-owner who is a socially disadvan-
taged farmer, the immediate family mem-
ber of the borrower-owner, from a list of 3 
appraisers approved by the county super-
visor. 
‘‘(5) TRANSFER OF RIGHTS.— 
‘‘(A) IN GENERAL.—Except as provided in 
subparagraph (B), no right of a borrower-owner 
under this section, and no agreement entered 
into between the borrower-owner and the Sec-
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