Application procedure.

Any borrower seeking to prepay its RUS Notes under this subpart should apply to the appropriate RUS Area Director by submitting: (a) A board resolution that: (1) Requests approval of the prepayment of the borrower's outstanding RUS Notes, and (2) States the intent of the borrower to comply with all eligibility criteria set forth in § 1786.54 of this subpart. (b) A list of all RUS Notes together with the outstanding amount on such notes. (c) Such additional information as the Administrator shall request.