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1995-152
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1995-152
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Last modified
3/11/2019 3:08:10 PM
Creation date
3/11/2019 3:00:22 PM
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Resolutions
Resolution Number
1995-152
Approved Date
12/05/1995
Resolution Type
Housing
Entity Name
Escambia County Housing Finance Authority
Interlocal Agreement
Subject
TEFRA single Family Mortgage Revenue Bonds
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110 <br />Mortgagors or sellers as Disc(nint and Origination FAes, as provid-A <br />in the Series A origination Agreement. See "THE PR(Y.'FAM -- Tha <br />Participants" herein. <br />Additional Bonds <br />In addition to Bonds issued to replace Bonds that_ have been <br />mutilated, lost, stolen or destroyed and Series B Bonds remarketed <br />on the Mandatory Tender Date, the Indenture permits the issuance of <br />additional parity bonds payable from the Pledged Revenues on a <br />parity with the Bonds in connection with a mandatory tender and <br />subsequent remarketing of the Series B Bonds upon delivery to the <br />Trustee of the items required to be presented upon remarketing of <br />the Series B Bonds as described under the heading "THE: SERIES it <br />BONDS -- Mandatory Tender Provisions." <br />Reserve Account <br />Moneys on deposit in the Series A subaccount of the Reserve <br />Account shall be used to pay such regularly scheduled principal of <br />and interest on the Series A Bonds on any Interest Payment Date on <br />which there are insufficient monies on deposit in the Principal <br />Account, Interest Account and General Fund for such purpose. In <br />addition, moneys in the Series A subaccount of the Reserve Account <br />may be used to pay accrued interest on the Series A Mortgage <br />Certificates upon purchase by the Trustee on a Certificate Purchase <br />Date. Amounts on deposit in the Reserve Account may be released <br />from the lien of. the Indenture as described under the heading "THE <br />INDEN`rURE -- Reserve Account." <br />Investment Agreements <br />Simultaneously with the delivery of the Bonds, the Trustee and <br />Assured Return Management Corporation (thee "Series A Acquisition <br />Fund Investment Agreement Provider") will enter into an investment <br />agreement with respect to the Series A Acquisition Fund (the <br />"Serik--s A Acquisition Fund Investment Agreement"), the Trustee an:_l <br />Trinity Funding Company, LLC (the "Series B Proceeds Fund <br />Investm,-nt Agreement Provider") will enter into an investment <br />agreement with respect to the Series B Proceeds Pund (the •^aeries <br />8 Proceeds Fund investment Agrewant") and the Trustee and AIG <br />Matched Funding Corp. (the 'Series A General Investment Agreement <br />Prowider6) will enter into an investment agreement with respect to <br />the Devise A subaccounte within the bond Pund. the Oeneral Fund, <br />the I/t+ogras: $npenes Pund and the Rebate /tend (the "Series A General <br />ta+wtment Agreement*). The respective Investment Agreements will <br />ids for the establishment of fixed rates of return on anciunts <br />with the respective Investment Agreement Providers. The <br />MsisW A AoQnisitiaa Puaid Isvestmmat Agreement Provider will pay <br />t an the amounts tmvested under the Series A Aoquisition <br />VWW lawstamet Agreement at the nate of 5.490 per saws catt1 at <br />least August : , 1 y1? . T2W ser see 9 V.'oOmmds Fuad Investment <br />as <br />ISO <br />
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