Laserfiche WebLink
• , l <br /> I + i ' <br /> �GRE�MENT <br /> This Agreement by ar.d between the City of Decatur, Illinois, <br /> a municipal corporation, ( ��City" ) , DCDF, Inc . , an Illinois not- <br /> fcr-profit corporation, ( "DCDF" ) , and Magna Millikin BAnk of De,catur <br /> a National Bank , ( "Finar,cial Iastitution" ) . <br /> WXEREAS, thE City, DCDF, and the Financial. Institution wish <br /> �o spur redevelopment, preserve existing housing stock an� ir�- <br /> �rc•✓e the physical environment within inner citT,r Deca�ur b�- <br /> �r�viding mortgage money to assist low Lu middie inccme famiii�s <br /> in t!�e purchase of existing homes . <br /> WHEREAS, the City, DCDF, and the Financia? Institution hav� <br /> ag�eed to establish and administer funds for �he purpose of <br /> provi3inq mortgage loan money as above described, and have �ur- i <br /> ther agr�ed to work toqether on such mortga�e ?oan prog�am. <br /> NO',�, THEREFoRE, for and in co�sideratian of the m�atual <br /> �romises and obiigations made and assiimed herei.l, the City, DCDc <br /> and the Financial Instizution agree as foliows : <br /> I . The program estabiished by the provisions ot this <br /> ?�gre�menr shall be kiiown as t�E Home Mortgage Rev�l,ri^g L•oan <br /> �yp�,-,atTt ; 't?�0��3w'� ) . <br /> 2 . The City s?�al� accept and process applicati�na for <br /> ��ans under the Program, then �orward t�e same to tY:� �iz�ncial <br /> Znst��ution ior approval . The processing of such app:�i�at�ons <br /> shall include, �ut is r_ot ?imi ted to, ch�cn�.ng the cred.i� r.ist�r� <br /> e� �he appiicants , ir,s�aec�:ion �� the propert; es , onta�nin:� �p- <br /> praisals of the properties sought to be purchased, ar�d ver�=;ling <br /> such ctrer i:�formation as is cQr.tainad ir. suc'r� applicatio�s . <br />