1980-075 CRA - Laserfiche WebLink

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Servicer means any Qualified Mortgage Lender who shall, pursuant to a Servicing Agreement with the Agency and the Trustee, agree to service Mortgage loans. Servicers' Guide means the Servicers' Guide (being a supplement to the Servicing Agreement), approved as of July 1, 1980, as now or hereafter amended, containing further criteria for the servicing of Mortgage Loans by a Servicer. ~rvicinq A~ree~ent means a contractual agreement by and among the Agency, the Trustee and a ervicer for the servicing of Mortgage Loans by the Servicer. Sinkinq Fund Installment means, with respect to any particular Principal Installment Date, the amount of money required by or pursuant to the Supplemental Resolution to be paid by the Agency on such Principal Installment Date toward the retirement of Term Bonds either prior to their stated maturity or on the date of their stated maturity. Special Hazard Insurance means insurance, commonly referred to as "Difference in Conditions" insurance, which shall protect from losses on Residences caused by hazards, such as flood, mudslide and building collapse not covered by Hazard Insurance, and losses resulting from the application of a coinsurance clause in the Hazard Insurance policies. Such Special Hazard Insurance shall be carried by the Agency, with the premiums payable from the Dperating Fund (except that the initial annual premium shall be paid from the Issuance Expense Account), and shall insure each Residence and Condominium -,Project and sha'll be'in the greater of an amount at least equal to two percent (2%) of the original principal amount of all Mortgage Loans purchased by the Agency or twice the original .principal amount of the largest Mortgage Loan purchased by the Trustee on behalf of the Agency. State means the State of California, and, when requires, i~es any agency or instrumentality thereof. Statement of Representation and Warranty means the statement which the Qualified Mortgage Lender shall del iver to the Trustee prior to the disbursement of money to purchase Mortgage Loans, all in accordance with the provisions of the applicable Mortgage Loan Purchase Agreement. the context Supplemental Resolution means any resolution supplemental to or amendatory of this Resolution at any time in full force and effect which has been duly adopted by the Agency pursuant to the laws of the State, but only if and to the extent that such Supplemental Resolution is specifically authorized hereunder. Term Bonds means 80nds so des ignated in the Resolution, stated to be payable by their terms on one date. Supplemental 13 . . . . . .