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110 Ooda LA,'r-` _: : -r t gin trquit at9 as to the gaalIILest ion <br />40atial O=JVo,.i is for Reties A t+brty see L+o4e1111 to be SM"Ired <br />P Yervicer under t tw Pt ograw, and the purcha*0 rr t c-•+ of the <br />Mlices whi! h way i*pr-rm— subjpct to a Serie* A M-..-4a,;e LOnn. <br />lregui r rr-r= ,t P Seat r i (t the ability of poter! a i mortg@4—pm Md <br />11ritial w�,, t F t o gi.al i f y f nt Series A Mot tga9e LOMO dad <br />�Y may n:,, i -: * a l l y i t ra i t t hr? Trustee ' s ability to putCb&M <br />A 14ortgagp Cert ifrcat es hack -d by Seriep A Mortgage tronas. <br />itiqu i reagents ar- auto i pct t(:, change and .,iy btcosie snore <br />A.6t1vr, thereby ronultinq in a decrease in tha number of <br />A'al arort9agors rt 1--;cf-nt i.al unitEa oligih•le for inclusion in <br />dtlgr am , <br />%* Cade requires a payment t t h- ?'nited States frosa certain <br />aj;porg with ze-spert to eerie=: t, w--7t-gage Loans as described <br />"THE V,Rclt RAYI -- fierier a 1 7,, -ix l,aw Requirements -- ARGABLUM <br />i if1L" <br />herein. The Aut.h(.) i t y i F unable to predict what effect, <br />r, this provision might: h;A-o- on the origination and prepayment <br />A,es A Mortgag+, Loans f imine, A with the prooe"D of the Series <br />de. See "THE i'FOGRAN F, Tax Law Requiretaents - - <br />.lire Prn i iLzj " <br />of FNA Inou: atice and GN'MA Corm tznPntu <br />M,4- funding of �perationi; (- I Ii,itain federal agencies which <br />dmN services in connection* with the Program is subject to the <br />q,al of the U.S. COVAJ'ress. 11-.- funding of operations of FNA, <br />dlirg the delivery of mortg-if, insurance with respect to FHA - <br />14 mortgage loans, has ter ri approved by the U.S. Congress <br />qlh septomber 30, 19% only. it an extension of the funding <br />11111 is not appr-nved prior to Septesiber 30. 1996, no FFA <br />vnc-* will be available for the origination of Mortgage Moans <br />tiiated ur,d•r the Program after that date. Failure to extend <br />fig for FRA could result in the purchase of fewer CUM <br />C i cat es 1)y the Trustee. In addition, the funding of the <br />1.1on of GMIFA. including the issuance of coiniaitsesnts for t2MM <br />I'.LCatea and the delivery of 40M Ouarant ies in connect Lou with <br />011M tart. i f i c steo . has In v ,- author t sed t brow" ttarch 22. 19% <br />so sitter.aion beyond Karr% 22. 19% of authority for the <br />11010 of tom► ocaimitmsnt s t.as *+ren authorized as of the dots <br />C. The i nabs 1 i t y of FFA to dr l i mer WOrt949e insurance M tbs <br />ility of the *ervioer to cAA ain out f iciest 43WFM c+owsaitwMte tar <br />1,"rsa eau l d now I t in a higher l i ke l idood of a hand be <br />0104 przWAant to a spec tot eawAat ovy redoapt tan ar darer <br />ha�adsta! • TM of t L tts A OO1+tUs rMafDt ieiw pea►tallear - <br />113 I�tawt t*dsa�t sur+. • %*I &Ait r tot be <br />160lime" h � *www aw will bom 44"6 64M ��ffa <br />No" ad ds'• 1 � Ort i t teawe is ammen" <br />�INI�i � t9.• �.pisittaa+ /tinned lifer etszli �. it N •zR <br />INa t.e wt,.t t t + . t saw. t wt use tedwal <br />Nil MW rw aAis Ora l i s t sf 00 O W "M to 4644" <br />dtl " W iNw � 4111111001144 a•a <br />M <br />