1980-076 CRA - Laserfiche WebLink

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. . . . . . Loan to Value Ratio Insurance Coverage In excess of 90% to 95% I n excess of 85% to 90% In excess of 80% to 85% In excess of 75% to 80% In excess of 70% to 75% In excess of 60% to 70% 60% and under 40% 35% 30% 25% 20% 15% 5% 505. Covenant Re Asset Covera~e Test Certificates. As of each October 1 and April 1 the Agency wll1 furnlS the Trustee wlth an Asset Coverage Test Certificate, 506, Non-Arbitrage Covenant. The Agency hereby covenants that it will make no use Of the proceeds of the Bonds at any time during the term thereof which would cause the Bonds to be arbitrage bonds within the meaning of Section 103(c) of the Internal Revenue Code of 1954, as amended, and any applicable regulations promulgated thereunder. author~~~d an~onl~A;~r~~t~ðe t;e~:~f~~~i~o~~ br~~~ sSu~a~~a?er~: i;h: c~~f~Hca~~ the facts, circumstances and estimates upon which the Agency's expectation that the Bonds will not be used in a manner that would cause the Bonds to be arbitrage bonds is based. The certification of the Secretary shall be delivered to the Purchasers together with the Bonds. 508. Covenant Re Standard and Poor's Corporation. The Agency hereby covenants th~it wl11 cause to be mailed to Standard & Poor's Corporation as of the date of delivery of the Bonds to the Purchasers, the following: (1) A 1 i st of the investments of that portion of the Bonds to be invested; (2) A copy of the executed Mortgage Loan Purchase Agreement containing the final annual interest rate on Mortgage Loans to be purchased with the proceeds of the 80nds; (3) A copy of the Final Official Statement for the Bonds containing the annual coupon interest rate on the Bonds; (4) A copy of the Certificate of Pledged Revenues incorporating the cash flows with respect to the 80nds, the investments and the Mortgage Loans; (5) A copy of the verification of the cash flows incorporated in the Certificate of Pledged Revenues signed by Laventho1 and Horwath, Certified Public Accountants; 13