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<br />8 <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />--...",...,.-" <br /> <br />Mortgage Loan Participation Purchase and Servicing Agreement related to the <br />above. <br /> <br />Trustee means Security Pacific National Bank appointed to act as <br />Trustee under the Resolution, and its successor or successors and any other <br />bank or trust company or national banking association at any time substituted <br />in its place pursuant to the Resolution. ' <br /> <br />1.03 Rules of Practice and Procedure. Instructions, rules of practice <br />and guidelines for the receipt and processing of applications for Mortgage <br />Loans, the issuance of Mortgage Loan purchase conmitments, the purchase of <br />Mortgage Loans, the undertaking of Mortgage Loan closings, the servicing of <br />Mortgage Loans, the establishment of a program to assist persons within a <br />Redevelopment Project Area who, without financial assistance would be unable <br />to undertake construction of their Residences, the purchase of participation <br />interest in Mortgage Loans, the making of loans to lenders, and the taking of <br />other internal actions as may be necessary and desirable for the <br />implementation and administration of all aspects of the Program may be <br />established and modified from time to time by the Agency, at all times <br />consistent with the provisions of the Act, the Resolution and these Rules and <br />Regulations. <br /> <br />1.04 Inter-Agency Cooperation. Whenever possible and appropriate, the <br />Agency will cooperate with Federal, State and local agencies to utilize all <br />existing and available resources to promote the production and increased <br />availability of low-interest loans to finance Residential Construction within <br />a Redevelopment Project Area of the City. <br /> <br />1.05 Purchase and Origination of Mortgage Loans. The Agency, through <br />the Trustee, shall purchase Mortgage Loans or participation interests in <br />Mortgage Loans made to Participating Parties by Qualified Mortgage Lenders <br />without premium, if the Mortgage ,Loans are of the character and on the terms <br />established by the Agency for the Program. <br /> <br />1.06 Loans to Lenders. The Agency, through the Trustee, shall make <br />loans to qualified lenders under the terms set forth in the Loan to Lender <br />Agreement. <br /> <br />1.07 Holding, Pledge and Assignment. The Agency, through the Trustee, <br />may hold Mortgage .Loans as security for Financing Residential Construction and <br />may pledge or assign the same as security for repayment of Bonds issued <br />pursuant to the Resolution. <br /> <br />Such Mortgage Loans may be assigned to, and held on behalf of the <br />Agency by, the Trustee. <br /> <br />1.08 Forms. Forms to be 'employed for the mak ing and process ing of <br />applications for Mortgage Loans, for the purchase of Mortgage Loans and for <br />the administration of all matters related thereto shall be either approved or <br />prepared, revised and amended from time to time by the Agency staff and <br /> <br />5 <br /> <br />