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Resolution 85-83 Page 2 WHEREAS, certain lending institutions and certain de- velopers of residential housing have agreed to participate in the Program and have made deposits of cash and have agreed to deposit letters of credit to evidence their commitment thereto; and WHEREAS, to implement the Program in 1985, there have been made available to the City Council of the City the following documents: 1. Rules and Regulations Establishing Eligibility Criteria for Lending Institutions (the "Lending Institution Rules and Regulations"); 2. Rules and Regulations Establishing Eligibility Criteria for Mortgagors and Home Mortgages (the "Mortgagor Rules and Regulations"); 3. Proposed form of Trust Indenture (the "Indenture") by and among the City and Security Pacific National Bank, as trustee (the "Trustee"); 4. Proposed form of Origination, Service and Administration Agreement, by and among the City, the Trustee, Verex Mortgage Corporation (the "Administrator") and each participating lending institution (the "Agreement"); 5. Proposed form of Developer Agreement by and among the City, the Trustee, the Administrator and each developer of single family homes who is participating in the Program (the "Developer Agreement"); 6. Proposed form of Developer Agreement-City by and among the City, the Trustee and the Administrator (the "Developer Agreement-City"); 7. Proposed form of Bond Purchase Contract (the "Purchase Contract"), by and between the City and Salomon Brothers, Inc. and Stone & Youngberg, as Underwriters (the "Underwriters"); and 8. Proposed form of Preliminary Official Statement respecting the issuance of the aforesaid home mortgage revenue bonds of the City (the "Preliminary Official Statement"). NOW, THEREFORE, the City Council of the City of Santa Ana resolves as follows: