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SECOND MORTGAGE. PR0(;PAMS The Series A Origination Agreement and the Indenture permit the Local Authorities at their option to provide additional rt,neys for down payment or closing cast Assistance in connection with the origination of Series A Mortgage Loans. No assurance can be given as to whether any of such moneys will be available, or under what ter-M.S. No default under any such second mortgage* will impair the security of the related Series A Mortgage Loan or cause a default thereunder. THE AUTHORITY General The Authority was created as a public body corporate and politic in accordance with the Florida Housing Finance Authority Law, Chapter 159, Part P:, Florida Statutes, as amended, and an approving ordinance by the Board of County Commissioners of Escambia County. The Authority is authorized, in furtherance of the public purposes descriLed in the Act, to alleviate the shortage of affordable residential housing facilities, and to provide capital for investment in :such facilities, for low, moderate or middle income families or persons within its area of operation, through the issuance of its revenue bonds for the purpose of providing funds to purchase home mortgage loans to finance the acquisition of single family residences and by pledging such home mortgage loans as security for the payment of the principal and interest on any such revenue bonds and by entering into any agreements in connection therewith. The Boards of County Commissioners of Citrus, Fscambia, Gadsden, Hardee, Hernando, Indian River, Leon, Marion, Okaloosa, Okeechobee, Santa Rosa, St.. Lucie and Walton Ccuntif_-d, respectively, by resolution approved or - are scheduled to approve, and, if other counties are added to the Program, the Poard cit. County commission* t s (A such counties will approve the implementation and administrat.ic=n by the Authority of tho Program within the fx�,undaries at such C(".111ties. The Authos ity has entered a,t will enter into separate Intrrlaoal Agreements (collectively, the m;nterlocai Agroements*1 with the honsiaq finance authorities ut Ler>n, Nation and St. Lucia 0WAWAias sad tlr Board of county ©ommissiolaers of Citrus. Gadsden, Verdes. Menutudo, Indian River, Melee". ots+ehobeo, Santa Sara and Walton Cuatiee, and may enter into eudl ams with other hon s"q rtmance authorities or oouatime designated by the Authwitr latah mB1t�. t+� with t:he Authority. caollectivelr retorted is as ills '"local Asitias" and *sod wt be refesrrd to as an "*AdORiRy~' t =sw atiw CbWWV ver - L►� the Antrottty. tbb at�s4tedowt boor t tomm w aK bar 1 t ire we" a rs&"" M pubtit tee emwPo et,e and =it iC is aacruirdssrae wita tIIs `Raise I ° ... - . V nor. tot i.*irtM the a4apt taw Of dope" i ma 08