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Pur Rilatli t o t h- Program Admin l:-" 1 .11 ' ' -, f' 7: --"int tetwftPen the Attthot i t y and t he Servicer and tt,� M,_•rtcjaQ® �erviciriq AgreRwsist t�Ptw•een the Authority and the ; jvic-er findfvidually, the "Administrati(,n AgrePtamt• and "Servicinq Agreement, and oflectively, the "Administration and servir-ing Agreements*), ea:, dated as of Maich 1, 199t,, the Servicer is required to review earn Mortgage Loan to determine compliance of such Mortgage Loans submitted by the Participants for purchase within the eligibility guidelines of the Prc>gram and to service tile Mortgage tc>ans that are purchased pursuant: to Ille Program. The Moi t.gage loans financed with Clio funds t .ode ;avail fl by the issuance of the Series A Honda (the "Series A Mort_c�agP moans"! will be fixed interest rate leans with level r:onLhly payments of principal and interest_, bearing an interest rate of 6.65% per annum, except as otherwise provided under the heading "THE PRCK;RA.M -- Interest Rates c- -n the Series A Mortgage Loans." The Series A Mortgage Loans must have a term of not to exceed iso months from the first payment crate of such Morto3agf, Loans, unless other—wise approved by the Servicer. Each Series A Mortgage Loan made by a Participant must satisfy the rules and regulations of the Authority and the terms and provisions of the Origination Agre€m.ent. See "THE PROGRAM" herein. Unless the Origination Period_ eriod is extended as provic:ed in the Incventure, the Series A Mortgage Leans must be originated and purchased by the! Servicer fly April 1, 1937 (May 1, 1997 for Targeted I'_-oceeds) . The :servicer. -A' ,3 a Fannia Mae—approved :;eilnr .ervicet, l C-NMA-aWyoved issuer serviCer for FHA- insured, VA -guaranteed, RECD- guarante('d ar)d private moot. aaq— insured mortgage loans and an aut ho1`i Zed issuer uer f car GNIMA Cf -rt i f i c•.ateg and seller of Fannie tae : Esc -,ori t i es . Pursuant to t. I.c ()i i (; i n. -it ion Agreement and the Administration and servicing Ac3reements, the Servicer will pf-ri,�idically purchase from Participants, FW1 insured, VA guaranteed +nd RECP-quat_anteed Mortgage troans in amounts sufficient to create a Pc o l t c, ("4 u sP the put'ch&ase of GINA Certi f i cat es and Convent lona l Mc;rtgATrc 1,=cans to cause the purchase of Fannie Use Securities. GNMA Crit i f i cat es and irann ie lye Securities are eowet Imes referred to c eA l s -t i ve l y herein as the 'Mortgage Certi t icates . • The "ervic-er will assemble the individual nWVA/RMortgage Lovas it hams i;„ t:.:*d into GNM 11 pools having an aggregate principal .*mount a ut t ;, i1 IJ to meet the standard win slum pool also to tore a 93M CO. t t i f i, .* t o tun 1 ese a leans amount i s Peru& t t ed by ON") , and asiign soac h mi.�Z'c Loans to am dao vi i 1 issue OIA Qsrt s t states A QWGh4WqP th* I oft_t ',Tisa Servicer willto the sndsysdn�asl i+� 1�ttg"r IA3r and de l i ve t �t o Iaoate Moe to 00"titate Asia now noels to a wiaawrw orsgimal prf waiptl anet t out t s C Sent to wast the standard wtsiaia past• - ae �t a Ates" WeeSec+asity, ott am* Lessers saar■t as abe 4W a sassua tw. amd romave As~i