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<br />. <br /> <br />. <br /> <br />. <br />. <br /> <br />. <br />. <br /> <br />,:,'~~"'-- <br /> <br />and located within the Redevelopment Project Area, together with a promissory <br />note or similar interest-bearing obligation, secured by such lien, <br /> <br />Mortgage Insurance means insurance issued by a Mortgage Insurer <br />insuring or guaranteeing, in whole or in part, principal and interest payments <br />on a Mortgage Loan and, unless otherwise specifically permitted, means solely <br />Private Mortgage Insurance. <br /> <br />Mortgage <br />Insurance, <br /> <br />Insurance <br /> <br />Proceeds <br /> <br />the <br /> <br />proceeds <br /> <br />Mortgage <br /> <br />of <br /> <br />means <br /> <br />Mortgage Insurer means any person licensed to insure ITIJrtgages in <br />the State approved by the Agency and qualified to provide insurance on <br />mortgages purchased by FNMA or FHLMC and, in addition, to qualify for <br />participation in the Agency's Residential Mortgage Financing Program, 'a <br />private ITIJrtgage insurance company must be recognized by Standard & Poor's <br />Corporation as a company whose Private Mortgage Insurance may elevate the <br />credit rating of securities secured by a pool of conventional single-family <br />mortgages to a security rated AA. <br /> <br />Mortgage Loan means indebtedness evidenced by a promissory note or <br />similar interest bearing obligation made by a Mortgagor for the purpose of <br />Financing a Residence and secured by a Mortgage, the payment of' which is <br />insured by Mortgage Insurance. <br /> <br />Mortgage Loan Purchase Account means the Account by that name which <br />is established hereunder. <br /> <br />Mortgage Loan Purchase Agreement means the agreement between the <br />Agency, the Trustee and a Qualified Mortgage Lender relating to the <br />originating, funding and purchasing of Mortgage Loans. <br /> <br />Mortgage Reserve Fund means <br />established hereunder. <br /> <br />the fund by that name wh i ch <br /> <br />is <br /> <br />Mortgage Reserve Requirement means an alTlJunt equal to two percent <br />(2%) of the aggregate unpaid principal amount of the outstanding Mortgage <br />Loans held by the Trustee at the time of calculation but until July 1, 1983, <br />or such earlier date as all Mortgage Loans intended to be purchased with <br />ITIJneys in the Mortgage Loan Purchase Account have been purchased by the <br />Trustee not less than $198,000 and, thereafter, not less than $99,000, or such <br />other amount as may be specified in a Supplemental Resolution. <br /> <br />Mortgagor means the obligor under a Mortgage Loan who qualifies as <br />a Participating Party under the Act. <br /> <br />Officer's Certificate means a certificate of the Agency signed by <br />an Authorized Officer and filed with the Trustee. <br /> <br />8 <br />