1981-041 CRA - Laserfiche WebLink

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CHAPTER 3 MISCELLANEOUS 3.01 Waiver. The Agency by resolution may waive or vary particular provisions of these Rules and Regulations: (1) to conform to the requirements of the Federal Government in connection with any housing with respect to which Federal assistance is sought; or (2) due to exceptional circumstances if, in the determination of the Agency, the application thereof to a specific case or under an emergency situation may result in undue hardship. 3.02 Separability. If any clause, sentence, paragraph, section or part of these Rules and Regulations shall be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair or invalidate the remainder thereof, but shall be confined in its operation to the clause, sentence, paragraph, section or part thereof directly involved in the con~roversy in which such judgment shall have been rendered. ' 3.03 Certain Arrangements Prohibited. No person from whom the Agency may acquire or to whom the Agency may make Mortgage Loans shall, pursuant to any arrangement, forma 1 or informal, purchase Bonds in an amount re lated to the amount of Mortgage Loans to be acquired from such person by the Agency. 3.04 Amendment. These Rules and Regulations may be amended or supplemented by the Agency at such times and in such manner as it may determine, to the extent that these Rules and Regulations are inconsistent with the Act, the Resolution or with other applicable provisions of law. 3.05 Forms of Agreements. The forms of Commitment Contract (and Reservation of Funds), Mortgage Loan Purchase Agreement, Servicing Agreement and Investment Agreement attached hereto as exhibits "A", "B", "C" and "D", respectively, are hereby approved for use in the Program in the form substantially as so attached and said contract and agreements shall be executed on behalf of the Agency by an Authorized Officer. 3.06 Sellers'. Guide and Servicers' Guide. A Sellers' Guide and a Servicers' Gulde, both dated as of the date of these Rules and Regulations, have been prepared by the Agency staff and consultants in accordance with the requirements of the Act, the Resolution and these Rules and Regulations and such Guides are þereby approved for use in the Program, provided that such Guides may be hereafter amended to reflect appropriate industry standards and FHLMC guidelines. * * * * * (Exhibits to be attached to executed original.) 10 8 . . . .