1980-075 CRA - Laserfiche WebLink

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ratings, fees and charges for execution, transportation and safekeeping of Bonds, costs of insurance, including the initial annual premium for Special Hazard Insurance, the setup and initial Residential Mortgage Financing Program expenses of the Agency, costs and expenses of refunding and other costs, charges and fees in connection with the foregoing. Coupon Bonds means those 80nds which are negotiable in form, payable to bearer w1th negotiable coupons. Debt Service means the sums obtained for any Bond Year after the computation 1S made, by totaling the following for each such Bond Year: (1) The Principal Installment payable in such Bond Year; and (2) The Interest Installments payable in such Bond Year on the aggregate principal amount of Bonds which would be Outstanding in such Bond Year if the Bonds Outstanding on the date of such computation were to mature or be redeemed in accordance with the maturity schedule or schedules for Outstanding Serial Bonds and the schedule or schedules of Sinking Fund Installments for Outstanding Term Bonds. At the time and for the purpose of making such computation, the amount of Term Bonds already retired in advance of the above mentioned schedule or schedules shall be deducted from the remaining amounts thereof in accordance with the reduction in Sinking Fund Installments made pursuant to Section 409 hereof. Debt Service Reserve Fund means the Fund by that name established hereunder. Debt Service Reserve Serial Bonds means $1,070,000 principal amount of Serial Bonds maturlng July 1, 20l2, Wh1Ch principal amount represents a principal amount of 80nds issued initially to partially fund the Debt Service Reserve Requirement. Debt Service Reserve Requirement means an amount which is not less than the Max1mum Annual Uebt Serv1ce scheduled to be paid on Bonds then outstanding. Defaulted Mortgage Loan means any Mortgage Loan described in an Officer's Certificate and stated to be in default in accordance with its terms or any Mortgage Loan not so described in an Officer's Certificate on which scheduled payments are sixty (60) days in arrears or in arrears for such other period which shall constitute a default as provided in the regulations of the Mortgage I nsurer or the terms of the Mortgage Insurance pol icy app 1 icab le to such Mortgage Loan. Depos itory means any bank or trus t company selected by the Agency and approved in writing by the Trustee as a depository of moneys and securities held under the provisions of the Resolution, and may include the Trustee and any Paying Agent. 5 . ~ , . f . , ,