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<br />make available to the City a portion of the proceeds of the Bonds for the origination of home <br />mortgages within the City's boundaries. <br />Section 3. The participation of the City in the Single Family Mortgage Loan Program, <br />and all undertakings, obligations, duties and rights of the City and the Issuer under this <br />Delegation and Participation Agreement, are contingent upon the issuance of the Bonds for the <br />Single Family Mortgage Loan Program. <br />Section 4. In the event that the Bonds are not issued for use in the Single Family <br />Mortgage Loan Program, this Delegation and Participation Agreement, and all duties, obligations <br />and rights of the Issuer and the City hereunder, shall terminate. If the Bonds are not issued for <br />use in the Single Family Mortgage Loan Program, the City agrees to hold the Issuer harmless for <br />any costs or any other liabilities incurred by the City with respect to the adoption and approval of <br />this Delegation and Participation Agreement, the Resolution of the City adopted with respect to <br />the Single Family Mortgage Loan Program, or any other City actions related thereto. <br />IN WITNESS WHEREOF, the City and the Issuer have caused this Delegation and <br />Participation Agreement to be executed to be effective as of February 20,2007. <br />[SEAL] CITY OF LOUISVILLE, COLORADO <br /> By <br /> Mayor <br />Attest: <br />By <br />City Clerk <br />4824-0075-4689.1 B-2 <br />