1981-040 CRA - Laserfiche WebLink

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Counsel's 0 inion means an opinion signed by any attorney or fino of attorneys who'may be the Agency counselor an attorney .or firm of attorneys retained by the Agency in other connections) licensed to practice in the state in which said attorney or firm maintains an office, selected by the Agency. County Recorder means the County Recorder of the County of Orange, California. Debt Service means the sum .obtained for any Bond Year after the c.omputation is made by totaling the following for each such Bond Year: (1) The Principál Installment or Sinking Fund Installment payable in such Bond Year; and (2) The Interest Requirement accruing 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 computati.on were to mature or be redeemed in accordance with the schedule of maturities for Outstanding Bonds. Debt Service Reserve Fund means the Fund by that name which is established and created by Section 501. Debt Service Reserve Requirement means an amount equal to the greater of $1,858,500 .or 100% of the Maximum Annual Debt Service (r.ounded to the next highest integral multiple .of $5,000) scheduled to be paid on the Bonds (excluding Debt Service payable in the Bond Year ending May 1, 1984). Depositary means any bank or trust company selected by the Agency and approved by the Trustee as a depositary of moneys and securities held under the provisions of this Resolution, and may include the Trustee. Event of Default means any of the events so declared in Secti.on 1202. Fair Market Value means, with respect to a Residence, the lower of (i) the value of the Residence as determined by a qualified appraiser acceptable to the Lender, or (ii) the sale price of the Residence. Federal Agency means the United States of America or any agency, department or instrumentality thereof including, but not limited to, the Federal Housing Administration of the the Department of Housing and Urban Development or the Veterans Administration. Federal Securities means United States Treasury notes, bonds, bills or certificates of indebtedness or those for which the full faith and credit .of the United States are pledged for the payment .of principal and interest, including United States Treasury (bo.ok entry) certificates, notes and bonds, state and local government series. 5 . . . . .