1981-040 CRA - Laserfiche WebLink

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(1) is in fact independent and n.ot under d.omination of the Agency; 'and (2) is not connected with the Agency as an officer or employee of the Agency, but wh.o may be regularly retained to make reports to the Agency. Interest Fund means the Fund by that name establ ished and created by Secti.on 501. Interest Payment Date means each date .on which interest .on any Bond is required t.o be paid by this Res.olution. Interest Requirement means, as .of any particular date .of ca1culati.on, the sum of: (i) any unpaid interest then due, plus (ii) the interest to bec.ome due on the Bonds on the next succeeding Interest Payment Date. Issuance Expense Account means the Account by that name which is establ ished and created by Section 501. Issue Date means the date of the Bearer Bonds specified and determined in accordance with Article II. Law means the Conmunity Redevelopment Law (Part I, c.onmencing with Section 33000, of Division 24 of the Health and Safety Code .of the State), amended as of the date of adopti.on of this Resolution. Lender or Mortgage Lender or Qual ified Mortgage Lender means Citizens Savings and L.oan Association or any state or national bank or trust company, savings and loan association, or mortgage banker which: (i) is authorized to acquire, hold and deal in mortgages; (ii) is approved by the Federal Housing Administration as a mortgagee of mortgages insured or guaranteed by the Federal Housing Administration or the Veterans Administration; (iii) is approved by the FNMA .or FHLMC as a sellerlservicer of lÍI.ortgages; (iv) has a principal .office and place of business in the State; (v) is auth.orized to do business in the State; and (vi) is authorized by the Agency to do business with the Agency and to aid in Financing pursuant to the Act on behalf of the Agency. Loan means a loan made by the Agency to a Lender under and pursuant to the Loan Agreement. Loan Agreement means the agreement so designated by and among the Agency, the Trustee and the Lender pursuant to which the Agency makes a Loan t.o the Lender. L.oan Repayment means, with respect to a Loan to Lender, the amount payable with respect to the Loan to Lender pursuant t.o the Loan Agreement. 7 . . . . .