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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />hereby approved as the Rules and Regulations of the City <br />pursuant to the Act with respect to the City's program of <br />purchasing loans pursuant to the Act and the Resolution of <br />Issuance with the proceeds of the Bonds. <br />Section 4. Mortgage Sale and Service Agreements. <br />The form of the Mortgage Sale and Service Agreement presented <br />to this meeting is hereby approved and the Mayor or the Mayor <br />Pro Tem and the City Clerk are hereby authorized and directed, <br />for and in the name of the City, to execute a Mortgage Sale <br />and Service Agreement with the lending institutions named in <br />Exhibit "A" attached hereto and incorporated herein by refer- <br />ence, as lending institutions, and with Verex Mortgage Corpo- <br />ration, as the compliance officer and program administrator, <br />and with Security Pacific National Bank as Trustee, in sub- <br />stantially the form hereby approved, with such changes therein <br />as the officers executing the same may approve, such approval <br />to be conclusively evidenced by the execution and delivery <br />thereof. <br />Section 5. Developer Agreement. The form of the <br />Developer Agreement presented to this meeting is hereby <br />approved and the Mayor or the Mayor Pro Tem and the City <br />Clerk are hereby authorized and directed, for and in the name <br />of the City, to enter into and execute Developer Agreements <br />with the developers named in Exhibit "B" attached hereto and <br />incorporated herein by reference, as participating developers, <br />in substantially the form hereby approved, with such changes <br />therein as the officers executing the same may approve, such <br />approval to be conclusively evidenced by the execution and <br />-4- <br />