1981-041 CRA - Laserfiche WebLink

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Redevelopment Project Area means the City of Santa Ana Community Redevelopment Project Area, the Redevelopment Plan for which was approved by the City Council pursuant to Ordinance No. 1173, adopted on July 2, 1973, as amended. Residence means real property improved with a residential structure and located in the Project, the financing of which ,is or may hereafter be permitted under the Act. Residence includes both condominium dwelling units within a Condominium Project and real property improved with single-family residential structures. Residential Construètion means the construction of new Residences meeting the requirements of the Agency's redevelopment plan for, the Redevelopment Project Area and of applicable local, State and Federal standards for residential construction, including any higher standards adopted by the Agency for a Redevelopment Project Area or as part of the redevelopment program. Residential Mortgage Financing Program or Mortgage Loan Program means and includes any act or thing done by the Agency, the Trustee, and any Qualified Mortgage Lender and Servicer under the Resolution for the purposes of encouraging investment within and upgrading of a Redevelopment Project Area in accordance with the redevelopment plan for the Redevelopment Project Area by providing permanent Financing for Residential Construction through the purchase of Mortgage Loans or participation interests in Mortgage Loans, or financing loans to lenders who originate Mortgage Loans with the proceeds of Bonds. Resolution means the Resolution adopted by this Agency on July 1, 1980, ,and amended on May 26, 1981. Rules and Regulations means these Rules and Regulations adopted by the Agency in connection with its Residential Mortgage Financing Program. Sellers' Guide means the Sellers' Guide dated as of July 1, 1980, as now or hereafter amended supplemental to the Mortgage Loan Purchase Agreement and conta in ing further criteri a for the purchase of Mortgage Loans by the Trustee on behalf of the Agency, including amendments and supplements approved May 26, 1981. Servicer means any Qualified Mortgage Lender who shall, pursuant to a Servicing Agreement with the Agency and the Trustee, agree to service Mortgage Loans. Servicers' Guide means the Servicers' Guide dated as of July 1, 1980, as now or hereafter amended supplemental to the Servicing Agreement and containing further criteria for the servicing of Mortgage Loans by a Servicer, including amendments and supplements approved May 26, 1981. Servicing Agreement means a contractual agreement by and aroong the Agency, the Trustee and a Servicer for the servicing of Mortgage Loans by the Servicer, and includes the Servicers' Guide. It also means that part of the 4 " , . . . .