1980-075 CRA - Laserfiche WebLink

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acknowledge and del iver, all and every such further resolutions, acts, deeds conveyances, assignments, transfers, and assurances as may be necessary or desirable for the better assuring, conveying, granting, assigning, confirming and effecting all and singular the rights, Revenues, Mortgage Loans, Funds and Accounts and other rroneys, securities, funds and property hereby pledged or assigned or intended so to be, or which the Agency may hereafter become bound to pledge or assign. B06. Power to Issue Bonds and Make Pledges. The Agency is duly authorized pursuant to law to authorize and issue the Bonds and to adopt this Resolution and to pledge the Revenues, Mortgage Loans and Funds and Accounts purported to be pledged by th is Resolution in the manner and to the extent provided in this Resolution. The Revenues, Mortgage Loans and Funds and Accounts so pledged are and will be free and clear of any pledge, lien, charge or encumbrance thereon or with respect thereto prior to, or of equal rank, with, the pledge created by this Resolution, except for the liens in favor of the Trustee and Paying Agents provided in Article IX hereof and further subject to the right of the Agency to apply moneys as herein provided, and all corporate action on the part of the Agency to that end has been duly and validly taken. The Bonds and the provisions of this Resolution are and will be the valid and legally enforceable obligations of the Agency in accordance with their terms and the terms of this Resolution. The Agency shall at all times, to the extent permitted by law, defend, preserve and protect the pledge of the Revenues, Mortgage Loans and Funds and Accounts under this Resolution and all the rights of the Bondholders under this Resolution against all claims and demands of all persons whomsoever, provided, however, that nothing in this Resolution contained shall be deemed to require the Agency to expend moneys other than the moneys which are subject to the lien upon the Revenues created by this Resolution. 807. Accounts and Reports. (A) The Agency shall keep or cause to be kept proper books of record and accounts in which complete and correct entries shall be made of its transactions relating to all Mortgage Loans, Revenues, and all Funds and Accounts, which shall at all reasonable times be subject to the inspection of the Trustee and the holders of an aggregate of not less than five percent (5%) in principal amount of the 8onds then Outstanding or their representatives duly authorized in writing. (B) The Agency shall annually, within one hundred and twenty (120) days after the close of each Fiscal Year, file with the Trustee a copy of an annual report regarding the Residential Mortgage Financing Program (hereinafter in this subsection referred to as the "Program") for such Fiscal Year, accompanied by an Accountant's Certificate containing the Accountant's opinion that the annual report has been prepared in accordance with generally accepted auditing standards and accounting principles, such annual report to set forth in complete and reasonable detail the following matters relating to the Program: (i) the operation and accomplishrænts of the Program; (ii) receipts and expenditures of the Program during such Fiscal Year in accordance 45 . . . . . .