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<br />. <br /> <br />. <br /> <br />. <br />. <br /> <br />. <br />. <br /> <br />""Ii'¡1\r:'~'""T. , <br /> <br />(M) The Agency covenants that it will not purchase Mortgage Loans <br />secured by Residences unless either (i) such Residences are substantially <br />similar in design to Residences described in plans and specifications in <br />existence prior to April 25, 1979, for Residences or (ii) the Agency has <br />received a legal opinion rendered by a nationally recognized municipal bond <br />law firm that the Trustee may purchase a Mortgage Loan secured by a Residence <br />which is not substantially similar in design to plans and specifications in <br />existence prior to April 25, 1979, and such purchase will not adversely affect <br />the Federal income tax exemption of the Bonds under any pending or enacted <br />federal legislation. <br /> <br />The Agency also covenants that it shall confirm to the Trustee, in the <br />Requisition provided for in subsection (E) of this Section 801, that either <br />(i) or (ii) applies with respect to any Mortgage Loan to be purchased by the <br />Trustee on behalf of the Agency. The Agency further covenants that it will <br />cause its staff, including its redevelopment consultant, diligently to perform <br />the covenants contained in th is Section. <br /> <br />802. Trustee's Quarterly Reports. The Trustee shall provide the Agency <br />with quarterly reports commencing with the period ending three (3) months <br />after the Issue Date of the Bonds, and continuing for as long as there are <br />moneys in any Funds and Accounts, setting forth all receipts paid into and all <br />disbursements made from such Funds and Accounts pursuant to the provisions of <br />this Resolution. Such reports shall be mailed by the Trustee to the Agency. <br /> <br />803. Pa)111ent of Revenues. The Agency shall promptlrpay any and all <br />Revenues received by it to the Trustee for deposit and application in <br />accordance with the provisons hereof. <br /> <br />B04. Extension of Pa)111ent of Bonds and Coupons. The Agency shall not <br />directly or indirectly extend or assent to the extens ion of the maturity of <br />any of the Bonds or the time of pa)111ent of any of the coupons or cl aims for <br />interest by the purchase or funding of such Bonds, coupons or claims for <br />interest or by any other arrangerœnt, and in case the maturity of any of the <br />Bonds or the time for pa)111ent of any such coupons or claims for interest shall <br />be extended, such Bonds, coupons or claims for interest shall not be entitled <br />in case of any default under this Resolution to the benefit of this Resolution <br />or to any pa)111ent out of any of the Funds or Accounts (except Funds or <br />Accounts held in trust for the pa)111ent of particular bonds, coupons or claims <br />for interest pursuant to this Resolution) held by the Trustee or any Paying <br />Agent, except subject to the prior payment of the principal of all Outstandin9 <br />Bonds the maturity of which has not been extended and of s~ch portion of the <br />accrued interest on Outstanding 80nds as shall not be represented by such <br />extended coupons or claims for interests. Nothing herein shall be deemed to <br />limit the right of the Agency to issue refunding Bonds and such issuance shall <br />not be deerœd to constitute an extension of maturity of Bonds. <br /> <br />805. Further Assurances. At any and all times the Agency shall, so far <br />it may be authorized or permitted by law, pass, make, do, execute, <br /> <br />as <br /> <br />44 <br />