UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date of
Report (Date of earliest event reported): August 25, 2010
FEDERAL
AGRICULTURAL MORTGAGE CORPORATION
(Exact
Name of Registrant as Specified in Charter)
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Federally
chartered instrumentality
of
the United States
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001-14951
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52-1578738
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(State
or Other Jurisdiction
of
Incorporation)
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(Commission
File
Number)
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(IRS
Employer Identification No.)
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1133
Twenty-First Street, N.W., Suite 600, Washington D.C.
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20036
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(Address
of Principal Executive Offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code (202) 872-7700
No
change
(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General
Instruction A.2. below):
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
Item
1.01. Entry into a Material Definitive Agreement.
On August
25, 2010, the Federal Agricultural Mortgage Corporation (“Farmer Mac”) entered
into Amendment No. 2 (the “Amendment”) to the Amended and Restated Master
Central Servicing Agreement (the “Agreement”) dated as of May 1, 2004 between
Farmer Mac and Zions First National Bank (“Zions”), as amended. The
Amendment amends the Agreement to specify a servicing fee with respect to
certain loans that Zions has undertaken to service on behalf of Farmer Mac
pursuant to the Amendment. In addition, the Amendment provides that
Zions will remit to Farmer Mac 50 percent of any conversion fee received
from a borrower under certain loans serviced by Zions in connection with any
conversion of such loan to a different Farmer Mac loan product.
Zions is
the largest owner of Farmer Mac’s Class A voting common stock and a major holder
of Farmer Mac’s Class C non-voting stock, and is named as a holder of more than
5% of Farmer Mac’s Class A voting common stock in Farmer Mac’s Proxy Statement
dated April 28, 2010 and filed with the SEC on April 29, 2010. The
Agreement and the Amendment No. 1 to the Agreement are listed as Exhibits 10.11
and 10.11.1, respectively, in Farmer Mac’s Quarterly Report on Form 10-Q for the
quarter ended June 30, 2010 and filed with the SEC on August 9,
2010. The Amendment was entered into on an arms-length basis in the
ordinary course of business, with terms and conditions comparable to those
available to other program participants that do not have a “related party”
relationship with Farmer Mac.
SIGNATURES
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly
authorized.
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FEDERAL
AGRICULTURAL MORTGAGE CORPORATION
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By:
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/s/ Jerome
G. Oslick |
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Name:
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Jerome
G. Oslick
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Title:
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Senior
Vice President – General Counsel
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Dated: August 27,
2010