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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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the Felies B Binds puisuint to th, Indenture (other than the Cost <br />of Issuance Fund, thn Rebate Fund and the Progran Exp -,nae Fund), <br />(iii) in(-01ne or interest aarned aril gains realized in excn$a of <br />1ci'ssaes= suffered on Investment. Securities held in the funds and <br />accounts relating Solc*ly to the Series B Bnilds (except earnings on <br />the Program Expense Fund, the Rebate Fund and the Cost of Issuance <br />Fund), (iv) all moneys, securities and funds (except amounts in the <br />Rebate Fund, the Program Expense Fund and the Cost of Issuance <br />Fund) held by the Trustee under the Indenture in the funds and <br />accounts related solely to the Series B Bonds and (v) title Series A <br />Pledged Revenues; all on :i parity with the Series A Bonds. <br />"Series B Principal Prepayments and Sxcess Revenues" means (i) <br />Principal Prepayments with respect to GNMA Certificates and FNMA <br />Securities purchased with funds on deposit in the Series B <br />Acquisition Fund, (ii) Excess Revenues with respect to payments <br />received oil GNMUI Certificates and FNMA Securities purchased with <br />funds on deposit in the Series B Acquisition Fund, and (iii) any <br />revenues that constitute Series A Principal Prepayments and Excess <br />Revenues after the Series A Bonds have been paid in full. <br />"Series B Proceeds Fund" means the fund by that name created <br />pursuant to the Indenture. <br />"Series B Supplemental Indenture" means an agreement <br />supplementing the Tru. --t Indent=ure for the purpose of providing the <br />rates, maturities, redemption provisions and other details of the <br />Series B Bonds and any Additional Series B Bonds, adopted in <br />accordance with the Indenture. <br />"Servicer Premium" means an additional payment made by the <br />Servicer ill conrie:ct.ion with the purcha:-e of Mr_,rtgage Loans bearing <br />interest at 7.12% or '7.651 per annum. <br />"Servicing Fee" means a monthly fee equal to one-tw-,lfth <br />(1/12) cf .50% of the aggregate outstanding principal balance of <br />the Mortgage Loans, which tee is rrtained by the Servicer as <br />providoad in the Program Administration and Servicing Agreement for <br />services rendered thereunder, and which fee includes a (;lm <br />q+uaranty fwe or a Fannie Mae guaranty tee, as applicable. <br />"Siri�la Family V*sidwnc*O means a now or existing residential <br />urW w h l , h IV t ., ; ,ri aa; , .a l property under the lava of the State. <br />whi.-h `exr*,l ieb w i l h the f ,1 isfinat ion Agtnaanimmit and %Rich is located <br />wi t hin t he, Ll igtt:le Loan Atw. inciudiaq a unit to a caldoetat%s or <br />Plaaeled Unit De"lapAYsat inq Ono of FAM10 Nae standards, and <br />a c COW a1.,1 a to MA. %% or MM, ae appl i cable . but not tae 1 udtaq <br />tW*-. thre:- or COW -Cantly twtd8QCOG. sad a.w "*Jp of q&1<cb Is <br />Am too sl"pte. sad land afpurtmeaat to the •es►Aeat tal snit. its <br />(i� t� t yt •iy tot rsstaeat Cal hoetrat <br />by lit *Wwatesl as pt+eotd♦d to to <br />oridttft t4s I1p.e.OK to Law as elp" ad wef u1 M* of est lar <br />t*Aft t1A&Vty ISS1 yes -. (Crit VLtetls will so eseilptod a tan <br />
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