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and Participation A~eement in connection with the use of such deleuation. The Issuer agrees to <br />make available to the City a portion of the proceeds of the Bonds ~br the origination o~f home <br />mortgages within the City's boundaries. <br /> <br /> Section 3. The participation of the City in the Single Family Mortgage Loan Pr%n-am. <br />and all undertakings, obligations, duties and rights of the City 'and the Issuer under this <br />Delegation and Participation Agreement, are contingent upon t~e 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 Sin,_'le <br />Family Mortgage Loan Pro.am, this Delegation and Participation A~eement. 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 Pro.am. the City a~ees to hold <br />the Issuer harmless for any costs or any other liabilities incurred by the Citv wiih r'-espect to the <br />adoption and approval of this Delegation and Participation A~eement, the Resolution of the City <br />adopted with respect to the Single Family Mortgage Loan Pro.am, 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 ./~rC~- .5". 2002. <br /> <br />City Clerk <br /> <br />CITY OF LOUISVILLE, COLORADO <br /> <br />Tom Davids~-n, Mayor <br /> <br />02-I10562.01 B-2 <br /> <br /> <br />