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Taking land out of the CRP program?
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<blockquote data-quote="Arkansas" data-source="post: 1073627" data-attributes="member: 7992"><p>I found this on the internet doing some searching maybe it will help ?</p><p></p><p>You must pay back all of the money that has been paid out during the time of the contract. Those payments include the contract money and any other cost sharing money that was given for land improvements. Next you must pay interest on that money which varies from year to year. In our case the interest was as low as 2% for one year and as high as 5.5% for another. Really, the interest isn't that big of a deal. Finally, you must pay 25% of one years payment for "Liquidated Damages". They are quick to point out that the "Liquidated Damages" fee is not a penalty!</p></blockquote><p></p>
[QUOTE="Arkansas, post: 1073627, member: 7992"] I found this on the internet doing some searching maybe it will help ? You must pay back all of the money that has been paid out during the time of the contract. Those payments include the contract money and any other cost sharing money that was given for land improvements. Next you must pay interest on that money which varies from year to year. In our case the interest was as low as 2% for one year and as high as 5.5% for another. Really, the interest isn't that big of a deal. Finally, you must pay 25% of one years payment for "Liquidated Damages". They are quick to point out that the "Liquidated Damages" fee is not a penalty! [/QUOTE]
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Taking land out of the CRP program?
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