1980-075 CRA - Laserfiche WebLink

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maturities for wh ich such Sink ing Fund Installment was estab lished in such amount as shall be necessary to retire the principal amount specified for such Sinking Fund Installment. The Trustee shall pay from the Principal Account to the Redemption Fund and then from the Redemption Fund to Uself and the appropriate Paying Agents, the amount required for the Redemption Price of the Term Bonds so called for redemption, together with interest to be paid from moneys in the Interest Account, and such amount shall be app1 ied by the Trus tee and Paying Agents to such redemption. 604. Mortgage Reserve Fund. (A) The Trustee shall at any time and from time to time next deposit moneys monthly into the Mortgage Reserve Fund if required, until the amount on deposit therein is equal to the Mortgage Reserve Requirement. (B) Moneys in the Mortgage Reserve Fund shall be withdrawn and transferred by the Trustee for the following purposes in the following order or priority: (1) If at any time any interest on Bonds or principal or Redemption Price of Bonds or any Sinking Fund Installment has become due and payment thereof in full has not been made or provided for and moneys therefor are not available in the Interest Account, Principal Account or Asset AccuTIX./1ation Fund, as the case may be, on each Interest Payment Date and each Principal Installment Date for any of the 80nds Outstanding, the Trustee shall forthwith withdraw from the Mortgage Reserve Fund an amount not exceeding the amount required to provide for such payment in full and apply the amounts so withdrawn to such payments; and (2) At any time, to the Agency or to any person named in a Requisition filed with the Trustee any amount stated in an Officer's ,Certificate to be needed and not otherwise available for the payment of costs and expenses necessarily incurred, or to be incurred within one (1) year from the date of the Requisition, for the maintenance and preservation of the value of Residences and Mortgage Loans, including but not limited to, real property taxes, insurance, foreclosure fees, appraisal and legal fees, repairs, maintenance, utilities and improvements necessary for sale of a Residence. (C) Moneys in excess of the Mortgage Reserve Requirement, if any, shall be transferred by the Trustee to the Revenue Fund one (1) day after the end of each 80nd Year, beginning July 1, 1981, or such earlier date as Mortgage Loans to be purchased wi th the proceeds of the Bonds have been so purchased. (D) Any provision of this Resolution to the contrary notwithstanding, any amounts repaid to the Agency for advances made pursuant to subsection B of this Section shall, when received by the Agency, be paid by the Agency to the Trustee and be deposited in to the Mortgage Reserve Fund. 33 . . . . . .