Rule 4.3.503 - REAL ESTATE REQUIREMENTS(1) The department of agriculture shall hold the first mortgage position on all real estate participation loans.(a) Real estate loans will be made upon availability of funds, but in no case shall the term exceed a 20 year repayment schedule.(b) Title insurance and fire insurance must be carried on the mortgaged real estate, with the Montana department of agriculture listed as the first lien holder.NEW, 1977 MAR p. 942, Eff. 11/26/77.80-2-106, MCA; IMP, 80-2-104, MCA;