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• <br /> NOW,THEREFORE,the parties hereto,based upon the mutual covenants and warranties <br /> contained herein,do hereby agree as follows: <br /> 1. Amount of Qualified Mortgage Bonds to be Allotted. The total amount of <br /> authority for the issuance of Qualified Mortgage Bonds (hereinafter referred to as the "QMB <br /> Authority") available to be allotted, and to actually be allotted, pursuant to this Allotment <br /> Agreement is Forty-Seven Million Five Hundred Fifty-Six Thousand and No/100 Dollars <br /> ($47,556,000.00). <br /> 2. Applications. Each Recipient has submitted (i) an application to the MHFA for an <br /> allotment of Qualified Mortgage Bonds which meets the requirements specified in Minn. Stat. <br /> §474A.061 subd.2a(1992),along with any amendments thereto which have been,or the parties <br /> hereto believe may be,made by the 1993 Minnesota State Legislature. <br /> 3. Allotment. The QMB Authority is allotted to the Recipients in the amounts specified <br /> and delineated in Exhibit B attached hereto and incorporated herein by reference, and such <br /> amount is allocated in accordance with the provisions contained in Minn. Stat.§474A.061 subd. <br /> 2a(1992),along with any amendments thereto which have been,or the parties hereto believe may <br /> be,made by the 1993 Minnesota State Legislature. <br /> 4. Application Deposit and Application Fee. Upon Federal Congress amending <br /> IRC §143(a)(1)(B) to authorize and allow for the issuance of Qualified Mortgage Bonds, the <br /> MI3FA shall transmit to each individual Recipient written notice of the amount of application <br /> deposit and application fee which state law requires such Recipient submit to the MHFA,and each <br /> such Recipient shall submit such application deposit and application fee in accordance with the <br /> instructions contained in such written notice. <br /> 5. Forward to Commissioner. The MHFA shall, in accordance with the provisions <br /> contained in Minn.Stat.§474.061 Subd.2a(b)(1992),along with any amendments thereto which <br /> have been,or the parties hereto believe may be,made by the 1993 Minnesota State Legislature, <br /> forward this Agreement to the Commissioner of Finance, and upon receipt of the applicable <br /> application deposit shall also forward such deposit to the Commissioner of Finance. <br /> (THE REMAINING PORTION OF THIS PAGE IS INTENTIONALLY LEFT BLANK) <br /> MHFA Qualified Mortgage Bonds 2 (Ver-5/11/93) <br /> Allotment Agreement <br />