1980-075 CRA - Laserfiche WebLink

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Private Mortgage Insurance means Mortgage Insurance issued in accordance with the further requirements to be contained in a Supplemental Resolution. Proje<¿{ means the Residences being financed directly or indirectly with the procee s of the Bonds, namely the Santa Ana Intown Hous ing One Condominiums, such Condominium Project consisting of approximately 318 single-family residential units located on the northwest corner of Van Ness and First Streets. Qualified Mortgage lender means a mortgage lender, which is a Federal Housing Administration and Veteran's Administration approved mortgagee and a Federal Home loan Mortgage Corporation or Federal National Mortgage Association approved seller and servicer and which is authorized by the Agency to cb bus iness with the Agency and to aid in Financing pursuant to the Act on behalf of the Agency, for which service the Qualified Mortgage lender will be reasonably compensated. Such Qualified Mortgage lender shall be a State or National Bank, Federal or State-chartered savings and loan association, or trust company or mortgage banker which is capable of providing service or otherwise aiding in the Financing. authorized by the Act. As provided in the Act, nothing in any other provision of State law shall prevent such a lender from serving as a Qualified Mortgage lender pursuant to the Act. Redemption Date means the Interest Payment Date upon which Bonds which are called for redemption prior to maturity are to be presented for such 'redemption and for payment of the Redemption Price. Redemption Fund means the Fund by that name established hereunder. Redemption Price means, with respect to any Bond or portion thereof, the principal amount of such Bond or portion thereof, plus the applicable premium, if any, payable upon redemption thereof, as provided in any Supplemental Resolution. Redevelopment Project Area means the City of Santa Ana Community Redevelopment Project Area, the Redevelopment Plan for which was approved by the City Council pursuant to Ordinance No. 1173, adopted on July 2, 1973, as amended. Requisition means a written order directing the Trustee to pay money from one of the Funds or Accounts es tab 1 i shed by or pursuant to th is Resolution, duly executed by an Authorized Officer. Residence means real property improved with a residential structure and located within the Project. Res identia 1 Constructi on means the construction of new Res idences meeting the requirements of the Agency's redevelopment plan for the Redevelopment Project Area and of applicable local, State and Federal 11 . . . . . .