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9XIdbit -A- <br />FORM OF <br />(NTERLOC.AL AGRFEMFf YT <br />THIS AGREEMENT made and entered into this5 _ day of n 0 r F' 1't.^ T99 > , try <br />and between the ESCAMBIA COUNTY HOUSING mix—CE AUTHORirY, a public <br />body corporate and politic organized and existing under the laws of the State, of Florida <br />(hereinafter referred to as the 'Escambia Authority"), and IN'DIAN RIVER COUNTY, <br />FLORIDA, a political subdivision of the State of Florida (hereinafter referred to as the <br />"Participating County"): <br />WITNESSETH: <br />WHEREAS, Part IV of Chapter 159 of the Florida Statutes authorizes the <br />creation of housing finance authorities within the State of Florida (the "State") for the <br />purpose of issuing revenue bonds to assist in relieving the shortage of housing <br />available at prices or rentals which many persons and families can afford: and <br />WHEREAS, the Escambia Authority has resolved to issue not exceeding <br />$80.000.000 Single Family Mortgage Revenue Bonds, Series 1996 (Multi -County <br />Program) (the "1996 Escambia Bonds"): and <br />WHEREAS, pursuant to Sections 143 and 146 of the Internal Revenue Code of <br />1986. as amended (the "Code"). the amount of Mortgage Subsidy Bonds which may be <br />issued in each year is limited by a private activity volume cap which has txxen <br />established for such purpose within the State: and <br />WHEREAS, the limitations upon available portion.5 of the volume cap prevent <br />the separate issuance of bonds for each county from being feasibly and economically <br />accomplished: and <br />WHEREAS, the Escambia Authority has authorized a sufficient amount of 19% <br />Escambia Bonds to fund the anticipated demand during the proposed Origimition <br />Period for qualifying single family mortgages of both Escambia County and IndLan <br />River County, as well as certain other counties which may also participate in a j ,flit <br />bond program: and <br />WHEREAS, the aggregation of mortgage loan demand and the secur tg of air <br />Irlatrd amount of the State volume rap (the "Allocation Aimountl /panted by the State <br />ihoo Kh 1996 (the "Authorizatf(an l'rriod") for the purpose of issuing bonds to Anaef[ge <br />yisslltyirxg sy{le f&mily cirvelopment (the Vandal wit) r+mWt in a wldes allocation Of <br />lixad eaWerut-A slid Urri.stu ottaez etYuwMtcs of WA . and <br />VREREAs, uril+4s such ec=wmdm am ruftmed. Ow Ieeuai m cd YonSyt <br />Bubo* bonds would be Mas ecanowA a! neeuMM In W&s mettWp a nfa d <br />dual" msftpgses: sed <br />. Sattler man aad Iee1 wL lffflde HY0AUa atfmntw bd S <br />ism aftow to aw 1■ mmm of tee� bNofle teti0 dw ftmEliff <br />momm to 40„I w Ow 4mruav of at— -, - Ir awnlflg .we tet. <br />Cat". StAllift 4W --i 13..m. t ov . 1 W setfad tV 4 af dw lbam" 4d &A11i <br />r� <br />• <br />