2005-79 AUTHORIZING THE ISSUANCE OF BONDS AND AGREEMENTS

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Now, THEREFORE, in consideration of the above premises and of the mutual covenants hereinafter contained and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Issuers hereby agree, as follows: Section 1. Bonds/Approval. IFA and Decatur hereby agree to jointly issue the Bonds � in one or more series, as provided in the trust indenture or indentures pursuant to which the Bonds will be issued, for the purpose of purchasing Mortgage Loans for single family residences ', for low and moderate income persons within the program area and purchasing GNMA Securities , to finance Mortgage Loans for single family residences for low and moderate income persons '� within the program area. The Bonds shall be issued in such aggregate principal amounts, shall be issued in such series and classes, shall have such stated maturity or maturities, shall beaz interest at such rate or rates,payable on such date or dates, shall be subject to redemption prior to maturity, shall be payable at such date or dates and at such place or places, and shall have such other terms, all as shall be agreed upon by each Issuer and approved by resolution or ordinance of the respective governing body of the Issuer. The proceeds of the Bonds shall be applied to such public purposes as shall be approved thereby. Section 2. Reservation for Decatur Lenders. The origination and servicing agreement or agreements and the trust indenture or indentures relating to the issuance of the Bonds shall provide, that from the date of issuance of the Bonds through a date _days after the date of issuance of such Bonds or such other term as shall be approved by the Issuers (the "Reservation Period"), a portion of the proceeds of the Bonds in an amount equal to the private activity bond volume cap then contributed by Decatur to the Bonds (the "Decatur Set-Aside") shall be made available to specified Lenders responsible for making Mortgage Loans in the City of Decatur, subject to the requirements of Section 143 of the Code. The Decatur Set-Aside may not be reallocated during the Reservation Period; provided, that, after the Reservation Period, the servicer with respect to the Bonds may reallocate the Decatur Set-Aside in the manner set forth in the origination and servicing agreement or agreements or the trust indenture or indentures relating to the Bonds. Section 3. Pledge of Collateral. IFA and Decatur hereby agree to assign and pledge to the trustee with respect to the Bonds all of the Mortgage Loans purchased with the proceeds of all of the GNMA Securities purchased with the proceeds of such Bonds or the Bonds refunded by such Bonds. The Issuers hereby further agree to assign and pledge to such trustee all other such documents, instruments, securities and moneys as shall be approved by ordinances of the respective governing body of each Issuer. Section 4. Documents and Instruments. IFA and Decatur hereby agree to enter into all such documents and instruments as shall be necessary or appropriate in connection with the issuance of the Bonds, including without limitation origination and servicing agreements, t�ust indentures, bond purchase contracts or agreements, official statements, continuing disclosure undertakings and closing certificates. T'he Issuers hereby further agree to enter into all such other documents and instruments as shall be necessary or appropriate in connection with the issuance of the Bonds, including without limitation closing certificates. -2-