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Nhott 000 of f undF i 1a t t.o L-Vanties to Sam such loans at interest
<br />s at es rfm"t it ivp with that spoeif led for the Series A Mortgage
<br />Th i a condition could change during the or i q i nat i on Period
<br />i n t h- sp i i es A Nott gap Loans, For errarple , preva i 1 i ng t nt erest
<br />at -;t f, s c-onventlona l mortgages 1n the Counties could decrea", or
<br />t,t h-r i undo to wake real estate loans at rates and an ogler teres
<br />equivalent to or more favorable t'-,an the rate and torus of the
<br />er ies A Motto lec�-v
<br />ans ll Y- >aie available by the Florida
<br />r•
<br />H,3ain,; Finance' (the "J1aer. y° In the event that, prior to
<br />all cif the Series A Mortgage Is:.arEa ging originated by the
<br />1'a7tiriE-,ants, funds to make Series A Mortgage Loans were to become
<br />ay.4i ]at,lr in the Counties at rates c apetitive with those specified
<br />f,,, t },F-, rf i les A Mort,aage Loans, the Participants might not be able
<br />tc� utilize all of the funds available for the origination of Series
<br />A r^c,rt grime Loans.
<br />In 1995, the Aut hoz i t - i rr;j3erd its Single Family Mortgage
<br />Revenue Brands, Series 199,.'Al proximately SS7.11S.4195 in funds
<br />s+^gain available under the program at a mortgage loan rate of 7.4S!
<br />i ,-, annum. Although the Prrgram rate for the Series A Mortgage
<br />art of 6.6S* per annum is i -,-,s attractive rate, the fact that
<br />t here are additional low inter—est rate loans available ±say cause
<br />thA I99,t, Program funds to yriginate more slowly.
<br />to addition. general e.ccncTric conditions, mortgage market
<br />interest rates and mortgagor mobility also may constitute
<br />r:i,snificant factors in deternainina the demand for residential real
<br />rr:tate loans by prospective borrowers. In the event that such
<br />c< an d i t i cans we r p to reduce the demand for such l oars and t hue
<br />indirectly eliminate some of the shortage of funds in the Counties
<br />,r) sake such I{)ans, the Partici patnto might not be able to utilise
<br />ail e,t th+r funds availablp for the originatiotn of Series A Mortgage
<br />I.caans .
<br />The Pi-;ram requires the Servicer to purchase Series A
<br />Mf> r t gags 1,ua n : and provide for the issuance of Series A Mort
<br />co rt i f i , a t to F i- , ked by such Mr fes A Mort gage loans toe purCiaM i
<br />t a,,,. ^ 1,;,: t -,, t r = T: Ser ies A bond proceeds. It the SerViasr. for argil►
<br />InA: T1., is sable to purchase Series A Mortgage Looms or issms
<br />:'r I a r s A Mt. 9 ' 4090 Cart n t icates for per'c=m t he Trustee and so
<br />J"119 ted •Ncc es or eetrti low am be s 6 1 i t 1st . the Mer lea A Bawds
<br />will be a .4 f r0ft PWOOMM& mot appl ted to Nast
<br />} t n cat N �-TasOsted re�ooseds W ass i h•
<br />i►u t s i t iaa rand will be veW to eoaow Mertes • 8ando at psi
<br />b"tM1.46 Islay 14. 9"T t SMR l.. IM. or am& Mawr dwas
<br />est aw aebod Prison to tis [issirtam. as desenhad tea. bra
<br />ragsee d Peis the Sayles a tias /Itted will be read to
<br />tester See les a hes` at OW != cite u. 19" SUMMO
<br />Ageo r ii.i l bawa iw Mea ��M WAM a � �, tr
<br />if ea totemoo $Mveaa
<br />is
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