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<br />and Participation Agreement in connection with the use of such delegation. The Issuer agrees to <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 /> <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 award from the State of <br />Allocation for the Single Family Mortgage Loan Program. <br /> <br />Section 4. In the event that the State does not award Allocation for use in the Single <br />Family Mortgage Loan Program, this Delegation and Participation Agreement, and all duties, <br />obligations and rights of the Issuer and the City hereunder, shall terminate. If the State does not <br />award Allocation for use in the Single Family Mortgage Loan Program, the City agrees to hold <br />the Issuer harmless for any costs or any other liabilities incurred by the City with respect to the <br />adoption and approval of this Delegation and Participation Agreement, the Resolution of the City <br />adopted with respect to the Single Family Mortgage Loan Program, or any other City actions <br />related thereto. <br /> <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 1,2005. <br /> <br />[SEAL] <br /> <br />CITY OF LOUISVILLE, COLORADO <br /> <br />By <br /> <br />Charles L. Sisk, Mayor <br /> <br />Attest: <br /> <br />By <br />Nancy Varra, City Clerk <br /> <br />B-2 <br />