5811 AUTHORIZING THE SALE, ISSUANCE AND DELIVERY OF PROJECT NOTES AND THE EXECUTION OF REQUISITION AGREEMENTS

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. . N _900 • �11-68� . 3. That it will evldence its promise to pay or cause to be paid the principal of and in[erest on each of th9 New Project Notes by a Payment Agreement endorsed on each of the New Project Notes and executed on behalf of the United States by the facsimile signature of the Secretary of Housing and Urban Development holding offi�e on the date of sale of the New Yrojeet Notes by the Local Iseuing Agency, which Payment Agreement shali be in ' subetantially the follawing form: PAYME7VT AGREF?SENT ` Pursuant to Section 102(c) of the Housing Act of 1949, ae amended (42 U.S.C. 1452(c)), the United States hereby unconditionally agrees that on the Maturity Date of the within Project Note it will pay or cause to be paid to the bearer ' thereof the principal of and interest thereon, upon the presentation and surrender of such Note 'to the Paying Agent designated thereir�, and the full faitn and credit of the United States is pledged to such payment. Under Section 102(c) of the Act, this Agreement shall be construed separate and apart fsom the loan contract referred to in the within Note and shall be incontestable in the hands of a bearer. IN WITNESS WHEAEOF,this Agreement has been executed on behalf of the United States by the duly authorized facsimile signature of the Secretary of Housing and Urban Development, as of the Date of Issue.of the within Note. UNITED STATES OF AMERICA By (Facsimile signature) Secretary of Housing and Urban Development B. The Government hereby certifies with respect to Low-rent housing projects as � follows: ( 1. That the Contract is in full force and effect and has not been amended or rescinded, and that none of the provisions thereof have been waived except es set forth in Section 1(A) hereof and otherwise as may be provided under the terms of this Agreement. 2. ThaC the minimum interest rates as prescribed in the Contract are not less than the "going Fe�eral rate" of interest, as defined in Section 2(LO) of � the United States Housing Act of 1937. 3. That the Government has not entered into contracts for annual contributions j ' in excess of the amounts prescribed by Section 10(e) of the aforesaid Act. i , 4. That the New Project Notes, upon which the designated Paying Agent shall � � ' have execute�l the agreement to act as Paying Agent, are secured by a pledge of a loan under this Agreement and the Local Issuing Agency is authorized to imprint or reproduce upon each such Note over the facsimile signature of the Secretary of Housing and Urban Development, the following: The Secretary of Housing and Urban Development hereby , certifies that if the designated Paying Agent has executed the agreement hereon to act as Paying Agent, this Note is • se�ured by a pledge of a loan under the Requisition Agreement between the Local Authority and the lJnited States of America, � as described therein. Section 22(c) of the United States Housing Act of 1937, provides that upon such certification said Note shall be incontestable in the hands of a bearer, and the • full faith and credit of the United States is pledged to the payment of said loan. - 4 -