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. � • � <br /> �� <br /> RGREEMENT <br /> This Agreement by and bezween �he City of Decatur, Illin�is , <br /> a municipal corporation, ( ��City" ) , DCDF, Inc . , an Illinois not- <br /> for-prcfit corporation, ( "DCDF" ) , and ; ; . nG Na ion 1 Bank of, Decatur <br /> a , { "Financial Institution" ) . <br /> WHEREAS, the City, DCDF, and the Financial Institution wish <br /> to spur redevelopment, pr�serve existing housinq steck and im- <br /> prove t�e physical environment within inner city Decatur by <br /> prov�ding mortgage money to assist low to middle income fami�ies <br /> � in the purchase of existing homes . <br /> WHEREAS , the City, DCDF, and the Financial. Instituti�n have <br /> aqreed to establish anc� administer funds for the �urpose of <br /> provi3ing mortgage loan money as above d�scribed, anc have fur- II <br /> ther agreed to work together on such mortgage loan program. <br /> NOW, THEREFOR�, for and in consideration cf �hz :,�utual <br /> promises and obligations madz and assumed hereia, �he Cit�r; DCDF <br /> and the �inanci�l Institution agree as follows : <br /> = . T?:e pr�gram established by ths _r,rcvisions o� tnis <br /> AgreEment shall �e ;cnQwn as �he Hone Kor�gage r'cevol.ving LO�_^. <br /> ?rogram � "program�� j . <br /> 2 . The Cit•,� shall accept and process applications ,".or <br /> loans under the Program, then forward the same to the Financial <br /> Institution for approval . The processing of such appli�ations <br /> sllall include, but is not limiLed to, chQcking the c=edit :iistory <br /> cf the applicants, ir_spection of the pr�pert�es , ebtainiag ap- <br /> praisais af the properties sought to be purch�sed, and verify�ng <br /> such other information as is contained iz suc�� appli�a��ons . <br />