Guam § 60305 - Conditions of Loan.
Full text of Guam Guam Code Annotated § 60305 — Conditions of Loan., with citation guidance and answers to common questions.
§ 60305. Conditions of Loan.
Every borrower who is granted a loan under § 60301 shall
comply with the following conditions:
COL1/11/2022
(a) Expend no portion of his loan for purposes other than
those sanctioned by the Department of Agriculture.
(b) Carry out recommended farm management
practices, including the keeping of proper records.
(c) Not sell or otherwise dispose of the mortgaged
property except on written consent of the lender and upon
written conditions as may be prescribed by the lender.
(d) Undertake to pay, when due, all taxes, liens,
judgments, or assessments which may be lawfully assessed
against the property mortgaged, together with costs and
expenses of any foreclosure of such mortgage.
Source: official Guam text · Last verified 2026-08-27
Frequently Asked Questions About Guam § 60305
What does Guam Code Annotated § 60305 cover?
Section 60305 ("Conditions of Loan.") is part of the Guam Code Annotated, the codified statutory law of Guam. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Guam § 60305?
A common citation format is "Guam Code Annotated § 60305" (Guam). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Guam law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Guam official source linked on this page or consult a licensed Guam attorney.
How does Guam § 60305 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Guam can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Guam.