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RES 81325
City of Pleasanton
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1980-1989
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1981
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RES 81325
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2/4/2013 11:34:33 AM
Creation date
3/7/2000 5:19:22 PM
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CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
9/29/1981
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(B) The Lending Institution shall be approved by <br />the Federal National Mortgage Association or the Federal Home <br />Loan Mortgage Corporation to sell and service the type of <br />Home Mortgages purchased under the Program. <br /> <br /> (C) The Lending Institution shall have a minimum <br />net worth of $250,000. <br /> <br /> Lending Institution shall be one which <br /> in the County (other than in connection <br /> <br /> (D) The <br />transacts business <br />with the Program). <br /> <br /> (E) The <br /> <br /> Lending Institution shall be willingto <br />execute the Agreement in the form presented by the City. <br /> <br /> (F) The Lending Institution shall be willing to <br />service the Home Mortgages it originates. <br /> <br /> (G) The Lending Institution shall be.willing to <br />maintain such policies of insurance, fidelity and performance <br />bonds, letters of credit and other similar assurances of <br />performance and financial solvency as may be required by the <br />Agreement. <br /> <br /> (H) The Lending Institution shall submit an <br />application to participate in the Program, in all respects in <br />accordance with the City's invitation to Lending Institutions <br />to participate in the Program (or any amendment or supplement <br />to such invitation), accompanied by such lender application <br />fee as may be required in such invitation (or amendment or <br />supplement thereto), whether required to be in the form of <br /> <br /> 5 <br />40006~0002-077-0252a <br /> <br /> <br />
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