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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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i <br />In the event. any Rc•�nd is -tit -flat-ed, 1--;t., stolen or 4ent.roy-0, <br />at the request of the owner ot any such Ilona,. the A_rth7rity M.ay <br />execute (if the Trustee dc;es not. have executed Hnnds in ._ <br />possession) and the Trustee r' -ay authenticate and deliver a new <br />of like date, interest rate, maturity and denomination as that <br />which was mutilated, lost, stolen or destroyed; provided that, in <br />the case of any mutilated Bond, such mutilated Rond shall first be <br />surrendered to the Trustee, arid, in the case of any lost, stolen or <br />destroyed Bond, there shall be first furnished to the Trustee and <br />the Authority evidence of such loss, theft or destruction <br />satisfactory to the Trustee and the Authority, together with <br />indemnity satis=factory to them. In the event any such Bond shal.1 <br />be about to mature or have matured or been called for redemption, <br />instead of issuing a duplicate Bond, the Trustee may pay the same <br />without surrender thereof. The Authority and the Trustee may <br />charge the owner of such Bond their reasonable fees and expenses in <br />this connection. <br />Series A Acquisition Fund <br />(A) Moneys in the Series A Acquisition Fund, which will be <br />held in trust by the Trustee, shall be used solely to purchase <br />Series A Mortgage Certificates arid to provide a portion of the <br />moneys required to pay interest due on the Series A Bonds or to <br />redeem the Series A Bonds in accordance with provisions under the <br />Indenture. <br />(B) Series A Mortgage Certificates shall bfl purchased by th,> <br />Trustee from the Servicer on a Business Day to be selected by th <br />Servicer not exceeding five times each month during the Certificat:° <br />Acquisition Yericd. The purchase price of each Series A Mortgage <br />Certificate shall lie an amount equal. to the Certificate Purchase <br />Price as defined in the Indenture. <br />Series A Mortgage Certificates shall be purchased only if (i) <br />the purchase of th-t Series A Mortgage Certificate is being effected <br />during thr. [`<<rtificate Acquisition Period, and (ii) the Trustee has <br />recei vpd f;am.- clay funds in an amount sufficient to pay to the <br />.Servicer t. h- C -r t. i f i tate Purchase Price for each Series A Mortgage <br />C'r't t i f i( -At r° la - ng purchased. <br />(r') On each Certificate Purchase Date, the Trust** shall <br />trannfer from the Series A Acquisition Fund lit to the subaceount <br />f t hp Reserve Account related to the Series A Bonds an amount <br />equal to 0.504 of the principal amount of each Series A Mortgage <br />restititate to be purcbseed on such Certificate Purchase Date, to <br />tw appited as Pswtdsd to tbs Iodsaturs, and (it) to the Ooet of <br />l asuaruas Pond an amount equal to 0 . 3st of the pr anotpal amount of <br />a< h set a*a A Mortgage Hest itic"AR to be parcbse" <br />(t ) Ttre rriastse d"I I mot purebsse a met too A�ss <br />e r t r t a, a t r aserspc eA a Qeft 9f Coate Pattehsss Dat a arc O& l y� *US— <br />** <br />t t h*- t' : ; .W, s ,# e011"t &URS MIM barwa eat ►ad ted <br />Ts <br />
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