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<br />( <br /> <br />( <br /> <br />WHEREAS, pursuant to the Consortium Agreement, the Consortium Review Board has <br />approved the Program and determined that an amount not to exceed the Committed Amount of <br />HOME Funds be allocated for use in the Program upon the terms and conditions set forth in the <br />Homebuyer Agreement and, in connection therewith, the Consortium and the City have entered <br />into a HOME Program Agency Agreement, dated as of March 1, 1995 to provide for the <br />administration of the Program as between the City and the Lead Entity; and <br /> <br />WHEREAS, the Participating Bank, having a branch office within the City, desires to <br />assist the Consortium and the City with the implementation of the Program; and <br /> <br />WHEREAS, in connection with the Program the Participating Bank is willing to make <br />available Participating Bank Funds, as hereinafter defmed, to Eligible Borrowers in the form of <br />purchase money fIrst mortgage loans (the "First Mortgage Loans"); and <br /> <br />WHEREAS, in connection with the Program the Consortium is willing to make available <br />the Committed Amount of HOME Funds to Eligible Borrowers in the form of second mortgage <br />loans in accordance with the terms and conditions set forth in the Homebuyer Agreement (the <br />"Consortium HOME Loans" and collectively with the First Mortgage Loans, the "Loans") for <br />the purposes of the Program; and <br /> <br />WHEREAS, the Consortium, the City and the Participating Bank desire to enter into this <br />Agreement to set forth the rights and duties of each in connection with the implementation of <br />the Program; <br /> <br />NOW THEREFORE, in consideration of the mutual representations, warranties, <br />covenants, terms and conditions contained herein, the parties hereto hereby agree as follows: <br /> <br />SECTION 1. DEFINITIONS. <br /> <br />A) In addition to the words and terms defmed elsewhere in this Agreement <br />or by reference to another document, the words and terms used as defmed words and terms in <br />this Agreement (including the recitals and exhibits hereto) shall have the meanings set forth in <br />Exhibit B attached hereto and made a part hereof, unless the context or use clearly indicates <br />another meaning or intent. <br /> <br />B) Unless the context clearly indicates otherwise, or may otherwise require, <br />in this Agreement (i) the defInitions set forth in this Section 1 shall include both the singular and <br />the plural, (ii) the terms "herein", "hereunder", "hereby", "hereto", "hereof" and any similar <br />terms refer to this Agreement as a whole and not to any particular section or subdivision hereof, <br />and (iii) references to specifIc provisions of the HOME Program or any other public law, statute <br />or regulation are to such provisions as they may be amended from time to time. <br /> <br />2 <br />