Opinion ID: 2995551
Heading Depth: 3
Heading Rank: 5

Heading: On September 9, 1999, the Agency

Text: affirmed its decision to require payment of $96,500 in appreciation under the Terms of the [Agreement]. Director Cooper concluded: Regulations at 7 C.F.R. sec. 1951.914(b) and the [Agreement] specify that the Agency can recapture a portion of the written-off debt by taking a share of any positive appreciation in the value of the real property. The Agency must collect 50 percent of any positive appreciation in the market value of the security between the date the [Agreement] was executed and the date it expires. . . . Notwithstanding the Appellants’ arguments on review that the [Agreement] is ambiguous and regulations are irrelevant, the terms of the [Agreement] are clear and published regulations, by law, are a proper basis for the Hearing Officer’s determination. . . . Substantial evidence supports the Hearing Officer’s determination that the Agency did not err in establishing the amount of recapture due under the [Agreement] and requiring payment of such.