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' ', <br /> AGREEMENT <br /> This Agreement by and between the City of Decatur, Illinois, <br /> a municipal corporation, ("City" ) , DCDF, Inc . , an Illinois not- <br /> for-prof it corporation, ("DCDF") , and Magna Bank of Central Illinois, N.A. <br /> a Corporation , ("Financial Institution" ) . <br /> WHEREAS, the City, DCDF, and the Financial Institution wish <br /> to spur redevelopment, preserve existing housing stock and im- <br /> prove the physical environment within inner city Decatur by <br /> Ny�;�l�?zr� mnY���,(7p mor_ey to assist low to middle income families <br /> in the purchase of existing homes . <br /> WHEREAS, the City, DCDF, and the Financial Institution have <br /> agreed to establish and administer funds for the purpose of <br /> providing mortgage loan money as above described, and have fur- <br /> ther agreed to work together on such mortgage loan program. <br /> NOW, THEREFORE, for and in consideration of the mutual <br /> promises and obligations made and assumed herein, the City, DCDF <br /> and the Financial Institution agree as follows : <br /> l . The program established by the provisions of this <br /> . <br /> Agreement shall be known as the Home Mortgage Revolving Loan <br /> Program ("Program" ) . <br /> 2 . The City shall accept and process applications for <br /> loans under the Program, then forward the same to the Financial <br /> Institution for approval . The processing of such applications <br /> shall include, but is not limited to, checking the credit history <br /> of the applicants, inspection of the properties, obtaining ap- <br /> praisals of the properties sought to be purchased, and verifying <br /> such other information as is contained in such applications. <br /> 3 . Upon receipt of an application from the City, the <br /> Financial Institution shall decide whether such applicant shall <br /> be given a home mortgage loan under the Program. <br />