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2005-79 AUTHORIZING THE ISSUANCE OF BONDS AND AGREEMENTS
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2005-79 AUTHORIZING THE ISSUANCE OF BONDS AND AGREEMENTS
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12/4/2015 11:39:39 AM
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12/4/2015 11:39:33 AM
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Resolution/Ordinance
Res Ord Num
2005-79
Res Ord Title
AUTHORIZING THE ISSUANCE OF NOT TO EXCEED 75,000,000 ILLINOIS FINANCE AUTHORITY AND CITY OF DECATUR FIRST HOME: ILLINOIS FIXED RATE SINGLE FAMILY MORTGAGE REVENUE BONDS
Approved Date
8/29/2005
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Section S. Fees. Each Issuer may charge an upfront fee in an amount to be agreed <br /> upon in connection with the Bonds. IFA, but not Decatur, may charge an ongoing fee in <br /> connection with the Bonds in an amount not to exceed .20% of the then outstanding principal <br /> amount of the Bonds. <br /> Section 6. Absolute and Irrevocable Conditions; Amendment. All terms and <br /> conditions contained herein are intended to be absolute and irrevocable conditions hereof and are <br /> agreed to by the Issuers. Except as otherwise provided herein, this Cooperation Agreement may <br /> not be effectively amended, changed, modified, altered or terminated without the written consent <br /> of each Issuer. <br /> Section 7. Issuers' Obligations Unconditional. The Issuers shall have no right to 'I <br /> terminate, cancel or rescind this Cooperation Agreement, it being the intent hereof that the <br /> Issuers shall be absolutely and unconditionally obligated to perform all covenants contained in <br /> this Cooperation Agreement. <br /> Section 8. Notices. All notices, certificates or other communications hereunder shall <br /> be sufficiently given and shall be deemed given when delivered or mailed by registered or <br /> certified mail, postage prepaid, addressed to the appropriate address set forth in Exhibit A <br /> attached to and made a part of this Cooperation Agreement. A duplicate copy of each notice, <br /> certificate or other communication given hereunder to any Issuer shall also be given to the <br /> others. Any Issuer, by notice given hereunder, may designate a different or further address to <br />� which subsequent notices, certificates or other communications will be sent. <br /> Section 9. Binding Ef�j`'ect. This Cooperation Agreement shall inure to the benefit of <br /> and shall be binding upon the Issuers and their respective successors and assigns. <br /> Section 10. Severabiliry. In the event any provision of this Cooperation Agreement <br /> shall be held invalid or unenforceable by a court of competent jurisdiction, such holding shall not <br /> invalidate or render unenforceable any other provision of this Cooperation Agreement. <br /> Section 11. Further Assurances and Corrective Instruments. The Issuers agree that <br /> they will, from time to time, execute, acknowledge and deliver, or cause to be executed, <br /> acknowledged and delivered, such supplements hereto and such further instruments as may <br /> reasonably be required for carrying out the expressed intention of this Cooperation Agreement. <br /> Section 12. Execution in Counterparts. This Cooperation Agreement may be executed <br /> simultaneously in any number of counterparts, each of which counterparts shall be original and <br /> all of which counterparts shall constitute but one and the same instrument. <br /> Section 13. Applicable Law. This Cooperation Agreement shall be governed by and <br /> construed in accordance with the laws of the State of Illinois. <br /> Section 14. Effective Date; Term. This Cooperation Agreement sha.11 be in full force <br /> and effect on September , 2005, or on the date when it is executed by all Issuers, whichever <br /> -3- <br />
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