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• - sti0�9o�4
<br /> (11•68)
<br /> It your principal place of buslness ie located in the City oi IPew York, 1Qew York, aqy
<br /> disburaement made to the Department of Housing ard Urbsn Development, Office of the
<br /> � Secretary, sh�Ll be mEWe by delivery of a treasurerTs, cashier�s or certified check to an
<br /> nuthorized representative of the Regional. Administrator, Faegion I, Department of Housing
<br /> and Urban Dev�elop�ent. Othex�rise, a treaeurer's, cashier'e or certitied check covering
<br /> dis'buraement to the De�partment of Aovaing and Urban Dev+elapment� Office of the 3ecretary,
<br /> ahall be mai�.ed to the Regional Admtttiatrator, L1ege�rLment of Housing nnd Urban Dpvelopment�
<br /> at the addreas ahovn at the bottom•hereoP, unless the Department of Housing aad Urban
<br /> Diev�elop�ent shall have elected to have ctiabursemeat ma8a in so�e otYser �snrier and you
<br /> shall hav�e received notice of such election prior to s�iling auch check. For the
<br /> purpose oY d;elivery oP the ftew Notes to the purchaeer thereof, prior confirmation of the
<br /> receipt of the reapective amounts to 'be disbursed to the designated pay�ees will not .be
<br /> required. However, your obligstions with reepect to disbureement of such flanda wi11 not
<br /> be satisfied until the reepective payees have received such f'unds.
<br /> has 'been made and the roceeda diaburBed b
<br /> 6. jd►en pe�ymeat Yor the New Notes p y you
<br /> in the above manner, you are authorized and directed to: (1) co�plete Paragraph 4 of
<br /> ,� �� n
<br /> F.khibit A b inserting the amounta oP Accruzd Znterest end 'Tata1`PurChase
<br /> said Y
<br /> Price" oY aaid New Notes; (2) aiga said f5chibit "A", in the space provided, to evidence
<br /> delivery and paysaent of the NeW Notea; (3) d�ate said bchibit 'A", in the Witnesaing
<br /> clause beloca Paragraph 5 thereof, as of the d.ate of euch delivery and paya�nt; (4) upon
<br /> instructions from the purchaser thereoP, sign the agreement to act as Paying, Agent
<br /> appearing upon each of the New 1Qotes; and (5) deliver the Ne�t Notes to the purchaser
<br /> thereof together with one fu]1y executed counterpart oY said FSchibit "A". The New Notes
<br /> shall thereupon be and become the property of eaid purchaser.
<br /> 7. Not later than tha stated date of maturity of the New Notea, funda will be made
<br /> avallable to you as Paying Agent for the purpase of paying the principnl of ahd interest
<br /> upon said New Notes to� thetr maturity. In the event that, as Paying Agent, you receive
<br /> funde more than three days prior to the maturity date of the New Notes, you sha11, unlesa
<br /> other specific inatructfons are received from the Undersigned, promptly invest and ra-
<br /> invest such funds at the best possible prices in direct obligatioas of the United Statee
<br /> of America having a maturity daCe which shall coincida as"nearly as practicable with, bu[
<br /> be not 2ater than, the maturSty date of the New Notes. In order to obtain the best �
<br /> poseible pr.ices, you are authorized, in your discretion, to purchase (or sall) such obli- �
<br /> gations d3rectly from (or to) yourself. You shall hold such obligations and collect and
<br /> use the proceeds therenf to pay (i) the principal of and interest to maturity on the New �
<br /> Notes and (ii) your charge for the aervices in connection with the investment of such �
<br /> �
<br /> funds at the rate of 10 cents per $1000 invested up to $1 million and 5 cents per $1000 �
<br /> invested in excess of $1 million, or a minimum of $25. Any such funds and proceedg not '
<br /> needed to make the aforesaid payment sha11 be transmitted to the Undersigned. In no event �
<br /> shall such fun(ls be invested unless the proceeds of the proposed fnveatment will be in �
<br /> excess of the funds invested plus your charge as specified above. �
<br /> 8. Immediately upon receipt by yau of flu�da for the payment of NeW Notes issued to
<br /> finance urba.n renewal activities, yrou will telegraph to the Regional Adiainistrator,
<br /> Departmept of Housing and Urban Develop�ent, at the sddreas shor►n st the bottom hereof� �
<br /> d�y letter, collect, as fo7loWs: I
<br /> "We have received funds sufficient to pay the principel of f
<br /> and interest to m�turity on Pro�ect Notes ( i
<br /> . 5eries ), in the principal amount of $ �
<br /> issued by i
<br /> �
<br /> HOUSIMG ASSTSTA2CF ying nt -
<br /> In the ev�nt that the NeW Ilotea r+ere isaued to finance �eo�,-rP-�„nt ha� i a �y�j;rities, the
<br /> aforementioned ���am sheLl be addxe�sed tg the Fi�ce o$ F+nRnraq,�,�Svs •e�no r�nd ��rvir�_„�
<br /> I�anfl A�}a,�„_Cfln��utions L a c L�i�,r� of Houa,�,a�t and Uxban Devel.apment.
<br /> �7p�_h.inuton. A. C. 204 Q .
<br /> 9, The Nerr Notes, rrhen paid� sha71 be marked "Paid and Cancelled an3 returned to
<br /> the Undersigned.
<br /> 10. � si�ed copiea of this letter arn enclosed. It this letter sets forth
<br /> your underatanding of your fu.nctions and duties a8 Pa�ring Agent, plesse indicate your
<br /> acceptance on nl.l. the copies in Lhe �].a.ce provided tJ►erefor� retuan one copy to the
<br /> U�ieraigned and mail or dellvc=s a copy to each Pirm of attorneye for the purchaser(s) of
<br /> the Herr Notes aa followa:
<br /> � -2-
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