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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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s <br />Each reference to a section of tha Cf-Kie herein shall b - <br />include. the United States Treasury Regulations proposed r in <br />effect with reelect thereto and applicable to rho R,-)ndrx ri)r the use <br />of the proceeds thereof. <br />"Commitment Pee" means, with respect to the :series A B�ncfs, <br />the program participation fee submitted by each Participant to the <br />Authority in connection with its Offer to Originate in an am,:)unt <br />equal to 1.001 of each Participant's Program Allocation not subject <br />to Builder Reservations and an amount equal to 1.501 of each <br />Participant's Program Allocation for Builder Reservations, which <br />amounts are not refundable, except to the extent offset by amounts <br />paid by Mortgagors or sellers as discount and origination fees or - <br />paid by the Servicer in the Mortgage Loan Purchase Price as <br />provided in the Origination Agreement or by transferee <br />Participants, as provided in the Series A Origination Agreement, <br />and, with respect to the Series B Bonds, shall be as established in <br />the Series B Supplemental Indenture. <br />"Commitment Period" means, with respect to the Series A Bonds, <br />the period during which Commitments must be issued by Participants <br />in accordance with the provisions of the Origination Agreement, <br />commencinct on the Application Start Date and ending (i) 12 months <br />after the Application Start Date for Builder Reservations and all <br />other funds other than those originally reserved for use in <br />Targeted Area, or (ii) at. the end of they Origination Period for <br />funds reserved for use in Targeted Areas, unless Such period is <br />extended Ly the Authority. <br />"Conventional Mortgage Loan" means a Mortgage Loan other than <br />an FHA/VA/RECD Loan which meets the requirements of the Origination <br />Agreement and Fannie Mae. <br />"Counties" mean: thr• Counties of. citrus, Escambia, Gadsden, <br />Hardee, Hernando, Indian River, Leon, Marion, Okaloosa, Okeechobee, <br />Santa Rosa, St. Lucie anti Walton, or any of them, and any other <br />part:icipat inq counties dt-signated by the Authority for <br />part icipat ir.n in rh- Program. <br />"Current Annual Family taoome' means the total current <br />aranu rl i rt d i r;r;1n=.v .;i t t..• ry . t t gage: and all adult members of a <br />t,aniay residing or intending to reside permanently in the Single <br />I-attiiy Residence tram whatever source derived and before taxes or <br />wit htyoldis�s. Pws <br />Por purpoof this definition. *current amnialiaed <br />rw'L ms* includes Prisy employaemt ayp earniand rec�og"sable <br />-,evoodary Iscome such as bmusee. oasiasio O. Overtime. part - t it <br />aurniats, dividends, interest. royaltles. peastaws. VA cospeneattew <br />a:, t t rvwt.al income, other Looms !such as al tuaay. child <br />si.W > , public asstetawn. std psy. social sscyrlty bare Its. <br />INIe0, ! ." --nt 0001pswsat too. to omm revsiVed twos trusts asd mcome <br />rawa ved 11;'m hirtaree aft Nit Cas 0r tiwstwome. volt tawt im of <br />rdA4b 40 r .+.4440 hosed aw tor+wMble va80ss edrart4=ffIos Osrd <br />"M as i Ago, 'a ati tdswit to ar& 098801, x11 do carirted at <br />M <br />
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