| (a) The borrower is liable to the board for any decrease in value of the land due to any sale or removal of timber, rock, gravel, sand, chemicals, or other material assets, the loss of which tends to lower the value of the land. (b) If a borrower wishes to obtain a partial release of lien to clear title to a portion of the land, the borrower shall submit a request in writing to the board. The procedures for granting a partial release are identical to those for obtaining a severance as provided in §175.12, relating to Severances, of this chapter, except that the board will issue a partial release of lien, instead of a deed, for a portion of the tract. (c) When a loan is paid in full, the board will execute a release of lien in favor of the borrower identified in the records of the board. |
