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For the Bank's services for each deferred loan, City <br />shall pay to Bank a loan origination fee not to <br />exceed $25.00 plus out-of-pocket expenses. <br /> <br />12. HUD Regulations <br /> <br /> The terms and conditions of this agreement are subject to the <br />regulations of the U. S. Department of Housing and Urban Development, <br />including specifically the regulations governing lump sum drawdowns <br />for property rehabilitation, 24 CFR 570.513. <br /> <br />13. Termination <br /> <br /> The term of this agreement shall be ongoing. from the date of <br />execution by the Locality and Bank. This agreement may be amended <br />so long as such amendment is in writing and agreed upon by both <br />Locality and Bank. Termination of this agreement may be made by <br />either Locality or Bank so long as written notice of intent to <br />terminate is given by the other party at least sixty (60) days <br />prior to the termination date. Any termination of this agreement <br />shall include both Interest Subsidy and Deferred Loan Programs but <br />shall not affect the operation thereof as it relates' to loans <br />outstanding at the time of said termination. <br /> <br />, 1980 By <br /> Title <br /> <br />, 1980 By <br /> Title <br /> <br />Approved by: <br />City Council , 1980 By <br /> <br /> SECURITY PACIFIC NATIONAL <br /> BANK , 1980 By <br /> <br />.-7- <br /> <br /> <br />