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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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"Pool Purchase Contract" -leans the Fannie Mae Pool Purchase <br />Contract l -t -ween the ,;frvi_(-rr and Fannie Mae relating to the sale <br />by the Servicer of onvent ic.na:jr <br />l MtgagVit <br />e Loans to Fannie ae a <br />cnd <br />the servicing thereof <br />"Principal Prepayment" means a payment of principal on a GNMA <br />Certificate or Fannie Mae Security in addition to regular scheduled <br />payments of principal. <br />"Program Expenses" shall mean, collectively, the Authority "ren <br />and the Trustee's Fees, including the Rebate Analyst Fee. <br />"Purchase" means any purchase by the Servicer of a Mortgage <br />Loan )pursuant to the Origination Agreement. <br />"Purchase Date" means the date on which a Purchase of a <br />Mortgage Loan by the Servicer occurs, which dates shall be <br />established by the servicer during the Origination Period, as set <br />forth in the Lender's Guide; provided that the Servicer shall <br />establish at least two Purchase Dates per month during the <br />Origination Period. <br />"Rating Agency" or "Moody's" means Moody's Investors Service, <br />Inc., its successors and assigns, and, if such entity shall for any <br />reason no longer perform the functions of a securities rating <br />agency, "Rating Agency" or "Moody's" shall be deemed to refer to <br />any other nationally recognized securities rating agency de.,;ignat.ed <br />by the Authority. <br />"Rebate Amount" means the amount calculated pursuant to the <br />Indent.uie required to be paid to the United State_,; of America <br />puz:ruant to Section 148(f) of the Code. <br />"Rebate Analyst Fee" m-s,ans the fee charcied by the Rt -bats <br />Analyst fur i_t..; .;,-i-� <br />"RECD" tt:ans 11'- Rural Ecoriumic leve:loptrwnt Agency, toim—rly <br />known as t.ha• Farmer:; Iicme Adminiattati(,m. <br />*Record Date" Nana the fifteenth day of the month next <br />prereedit.y Any Interest Payment Date tar the date of ssloctiom of <br />F (,nde for redemption. to the event Bads ars to be redeemed on <br />of her than an Interest Pey+meatt Date), provided that with respect to <br />overdue interest or interest due on any ove-edue amount or on othez <br />than a tPWI&r Interest Payment Date, the Trustee may establish a <br />spec i o 1 t erord date of mot more than 20 days before the date set <br />"Rea►arket teas Dante meale40z4ate or dates mom or atter Jasrary <br />i . , i • v 9 imslndtp i l 1. t"7. ss LocuW by t6o <br />Memssist amO w : t bl tis ee 000Mlrrlesa0 oet tOe MK Qas t t y. ore U%&Cb <br />fit• all or i of tis lanes S Bswes 0ia11 be asb)eet to a <br />;t M : • 1 IUtlet io" a to tie tsirmr am amd raaeaswa we <br />•V <br />
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