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EXHIBIT A <br /> . PROCEDURAL MANUAL <br /> FOR <br /> • MUNICIPAL PARTICIPATION HOME MORTGAGE LOAM PROGRAM <br /> The Municipal Participation Home Mortgage Loan Program (herein- <br /> after "Program") -is a program under the MHFA 19 85 Single Family Mort- <br /> gage Loan .Program (hereinafter ­1985 SFMLP") . Therefore, the Proce- <br /> dural Manual for the 1985 SFMLP with appropriate changes to implement <br /> the conditions specified herein, will be used as a procedural manual <br /> for the Program. <br /> The following are the conditions which exist for the Program, <br /> and which are to be incorporated into the SFMLP Procedural Manual. <br /> The Sellers and Servicers for the Program shall make all changes to <br /> the SFMLP Procedural Manual necessary to incorporate the following <br /> into such Procedural Manual: <br /> I. Participation Fee <br /> There is no participation fee charged to. a mortgage lender for <br /> `• its participation in the Program. Therefore, all reference to <br /> participation fees must be deleted from the 1985 SFMLP Proce- <br /> dural Manual and all documents relating thereto. However, there <br /> is a Commitment Fee , required which is specified in the body of <br /> the Seller Application-Commitment Agreement. <br /> II. Multiple Commitments for Lender . <br /> The Seller Commitment Agreement for the Program is a separate <br /> commitment which is in addition to .any other Application-Commit- <br /> ment Agreement which may have been executed by a Seller/Origi- <br /> nating Lender. Therefore, all references precluding multiple <br /> commitments. to a Seller/Originating Lender must be deleted from <br /> the 19 85 SFMLP Procedural Manual and all documents relating <br /> thereto. <br /> III. Participation Procedure <br /> The Seller Commitment Agreement for the Program is a commitment <br /> for a specific dollar amount 'of monies, and not merely an .appli- <br /> cation to participate in the. Program. Therefore, sections 2.1, <br /> 2.4, 2.5, 2.6, 2.7, 2.8, 2.9, 2.10 and 2.11 must be deleted in <br /> their entirety from the SFMLP Procedural Manual and all <br /> documents relating thereto. In addition, any reference to the <br /> procedures described in such sections must be deleted from the <br /> 1985 SFMLP Procedural Manual. and all documents relating <br /> thereto. <br /> IV. Interest Rate <br /> The interest rate for all Mortgages shall be at a fixed rate <br /> of nine and ninety-five one hundreths of one percent (9.95%) <br /> V. Homeownership Assistance Fund (HAF) Loans <br /> Loans under the Program are not eligible for Homeownership <br /> Assistance Fund (HAF) downpayment and/or monthly assistance for <br /> payment of principal and interest. Therefore, any reference to <br /> HAF second mortgage loans and assistance must be deleted from <br /> the SFMLP Procedural Manual and all documents relating thereto. <br /> All questions regarding the conditions specified herein, or the inter- <br /> pretatio�. thereof, should be directed to the Director of Mortgage Loan <br /> Programs for the Minnesota Housing Finance Agency. <br /> -5- W/P ID 1664F <br /> 7/3/85 <br />