Common use of Existence; Power; Authority Clause in Contracts

Existence; Power; Authority. The Issuer is a duly organized and existing public and official agency of the State of Texas (the “State”) organized pursuant to and in accordance with the provisions of Chapter 2306, Texas Government Code, as amended (together with other laws of the State of Texas applicable to the Issuer, including Chapter 1207, Texas Government Code, the “Act”), and has full legal right, power and authority to enter into this Purchase Agreement and upon receipt of the approving legal opinion and opinion of the Attorney General of the State of Texas, will have at the Closing full legal right, power and authority to: (i) enter into the Supplemental Indenture, the 2020 Supplement to Depository Agreement (and together with the Amended and Restated Depository Agreement (as defined in the 2020 Supplement to Depository Agreement), the “Depository Agreement”) and the Continuing Disclosure Agreement; (ii) adopt the Resolution; (iii) issue, sell and deliver the Bonds to the Underwriter pursuant to the Trust Indenture, as provided herein; (iv) purchase, pledge and assign and thereby convey a beneficial interest in the Trust Estate (as defined in the Trust Indenture), all in the manner described in the Resolution, the Trust Indenture and the Official Statement; (v) use the amounts made available by the issuance of the Bonds for the purpose of providing funds to (A) refund the Issuer’s Series 2018 Issuer Notes, (B) make and acquire second lien mortgage loans to qualifying borrowers in the Issuer’s single family mortgage purchase program in order to provide down payment and closing cost assistance to such borrowers and (C) pay a portion of the costs of issuance of the Bonds; and (vi) carry out, give effect to and consummate all the other transactions on its part contemplated by this Purchase Agreement, the Depository Agreement, the Continuing Disclosure Agreement, the Resolution and the Trust Indenture (collectively hereinafter referred to as the “Issuer Documents”) and the Official Statement;

Existence; Power; Authority. The Issuer is a duly organized and existing public and official agency of the State of Texas (the “State”) organized pursuant to and in accordance with the provisions of Chapter 2306, Texas Government Code, as amended (together with other laws of the State of Texas applicable to the Issuer, including Chapter 1207, Texas Government Code, the “Act”), and has full legal right, power and authority to enter into this Purchase Agreement and upon receipt of the approving legal opinion and opinion of the Attorney General of the State of Texas, will have at the Closing full legal right, power and authority to: (i) enter into the Supplemental Indenture, the 2020 Fourteenth Supplement to Amended and Restated Depository Agreement (and together with the Amended and Restated Depository Agreement (as defined in the 2020 Fourteenth Supplement to Amended and Restated Depository Agreement), the “Depository Agreement”) and the Continuing Disclosure Agreement; (ii) adopt the Resolution; (iii) issue, sell and deliver the Bonds to the Underwriter Underwriters pursuant to the Trust Indenture, as provided herein; (iv) purchase, pledge and assign and thereby convey a beneficial interest in the Trust Estate (as defined in the Trust Indenture), all in the manner described in the Resolution, the Trust Indenture and the Official Statement; (v) use the amounts made available by the issuance of the Bonds for the purpose of providing funds to (A) refund make and acquire qualifying mortgage loans (including payment of lender compensation with respect to the Issuer’s Series 2018 Issuer Notesrelated mortgage loans) through the purchase of mortgage-backed securities (the “Mortgage Certificates”) issued and guaranteed by the Government National Mortgage Association, (B) make and acquire second lien mortgage loans to qualifying borrowers in the Issuer’s single family mortgage purchase program in order to provide down payment and closing cost assistance to such borrowers and (C) pay a portion of the costs of issuance of the Bonds; and (vi) carry out, give effect to and consummate all the other transactions on its part contemplated by this Purchase Agreement, the Depository Agreement, the Continuing Disclosure Agreement, the Resolution and the Trust Indenture (collectively hereinafter referred to as the “Issuer Documents”) and the Official Statement;

Existence; Power; Authority. The Issuer is a duly organized and existing public and official agency of the State of Texas (the “State”) organized pursuant to and in accordance with the provisions of Chapter 2306, Texas Government Code, as amended (together with other laws of the State of Texas applicable to the Issuer, including Chapter 1207, Texas Government Code, the “Act”), and has full legal right, power and authority to enter into this Purchase Agreement and upon receipt of the approving legal opinion and opinion of the Attorney General of the State of Texas, will have at the Closing full legal right, power and authority to: (i) enter into the Supplemental Indenture, the 2020 Supplement to Depository Agreement (and together with the Amended and Restated Depository Agreement (as defined in the 2020 Supplement to Depository Agreement), the “Depository Agreement”) and the Continuing Disclosure Agreement; (ii) adopt the Resolution; (iii) issue, sell and deliver the Bonds to the Underwriter Underwriters pursuant to the Trust Indenture, as provided herein; (iv) purchase, pledge and assign and thereby convey a beneficial interest in the Trust Estate (as defined in the Trust Indenture), all in the manner described in the Resolution, the Trust Indenture and the Official Statement; (v) use the amounts made available by the issuance of the Bonds for the purpose of providing funds to (A) refund make and acquire qualifying mortgage loans (including reimbursement of a portion of servicing release premiums paid with respect to the Issuer’s Series 2018 Issuer Notesrelated mortgage loans) through the purchase of mortgage-backed securities (the “Mortgage Certificates”) issued and guaranteed by the [Government National Mortgage Association, the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation], (B) make and acquire second lien mortgage loans to qualifying borrowers in the Issuer’s single family mortgage purchase program in order to provide down payment and closing cost assistance to such borrowers and (C) pay a portion of the costs of issuance of the BondsBonds [and to fund capitalized interest]; and (vi) carry out, give effect to and consummate all the other transactions on its part contemplated by this Purchase Agreement, the Depository Agreement, the Continuing Disclosure Agreement, the Resolution and the Trust Indenture (collectively hereinafter referred to as the “Issuer Documents”) and the Official Statement;and

Existence; Power; Authority. The Issuer is a duly organized and existing public and official agency of the State of Texas (the “State”) organized pursuant to and in accordance with the provisions of Chapter 2306, Texas Government Code, as amended (together with other laws of the State of Texas applicable to the Issuer, including Chapter 1207, Texas Government Code, the “Act”), and has full legal right, power and authority to enter into this Purchase Agreement and upon receipt of the approving legal opinion and opinion of the Attorney General of the State of Texas, will have at the Closing full legal right, power and authority to: (i) enter into the Supplemental Indenture, the 2020 2022 B Supplement to Depository Agreement (and together with the Amended and Restated Depository Agreement (as defined in the 2020 2022 B Supplement to Depository Agreement), the “Depository Agreement”) and the Continuing Disclosure Agreement; (ii) adopt the Resolution; (iii) issue, sell and deliver the Bonds to the Underwriter Underwriters pursuant to the Trust Indenture, as provided herein; (iv) purchase, pledge and assign and thereby convey a beneficial interest in the Trust Estate (as defined in the Trust Indenture), all in the manner described in the Resolution, the Trust Indenture and the Official Statement; (v) use the amounts made available by the issuance of the Bonds for the purpose of providing funds to (A) refund make and acquire qualifying mortgage loans (including payment of lender compensation with respect to the Issuer’s Series 2018 Issuer Notesrelated mortgage loans) through the purchase of mortgage-backed securities (the “Mortgage Certificates”) issued and guaranteed by the Government National Mortgage Association, (B) make and acquire second lien mortgage loans to qualifying borrowers in the Issuer’s single family mortgage purchase program in order to provide down payment and closing cost assistance to such borrowers and (C) pay a portion of the costs of issuance of the Bonds; and (vi) carry out, give effect to and consummate all the other transactions on its part contemplated by this Purchase Agreement, the Depository Agreement, the Continuing Disclosure Agreement, the Resolution and the Trust Indenture (collectively hereinafter referred to as the “Issuer Documents”) and the Official Statement;

Existence; Power; Authority. The Issuer is a duly organized and existing public and official agency of the State of Texas (the “State”) organized pursuant to and in accordance with the provisions of Chapter 2306, Texas Government Code, as amended (together with other laws of the State of Texas applicable to the Issuer, including Chapter 1207, Texas Government Code, the “Act”), and has full legal right, power and authority to enter into this Purchase Agreement and upon receipt of the approving legal opinion and opinion of the Attorney General of the State of Texas, will have at the Closing full legal right, power and authority to: (i) enter into the Supplemental Indenture, the 2020 2022 A Supplement to Depository Agreement (and together with the Amended and Restated Depository Agreement (as defined in the 2020 2022 A Supplement to Depository Agreement), the “Depository Agreement”) and the Continuing Disclosure Agreement; (ii) adopt the Resolution; (iii) issue, sell and deliver the Bonds to the Underwriter Underwriters pursuant to the Trust Indenture, as provided herein; (iv) purchase, pledge and assign and thereby convey a beneficial interest in the Trust Estate (as defined in the Trust Indenture), all in the manner described in the Resolution, the Trust Indenture and the Official Statement; (v) use the amounts made available by the issuance of the Bonds for the purpose of providing funds to (A) refund make and acquire qualifying mortgage loans (including payment of lender compensation with respect to the Issuer’s Series 2018 Issuer Notesrelated mortgage loans) through the purchase of mortgage-backed securities (the “Mortgage Certificates”) issued and guaranteed by the Government National Mortgage Association, (B) make and acquire second lien mortgage loans to qualifying borrowers in the Issuer’s single family mortgage purchase program in order to provide down payment and closing cost assistance to such borrowers and (C) pay a portion of the costs of issuance of the Bonds; and (vi) carry out, give effect to and consummate all the other transactions on its part contemplated by this Purchase Agreement, the Depository Agreement, the Continuing Disclosure Agreement, the Resolution and the Trust Indenture (collectively hereinafter referred to as the “Issuer Documents”) and the Official Statement;

Existence; Power; Authority. The Issuer is a duly organized and existing public and official agency of the State of Texas (the “State”) organized pursuant to and in accordance with the provisions of Chapter 2306, Texas Government Code, as amended (together with other laws of the State of Texas applicable to the Issuer, including Chapter 1207, Texas Government Code, the “Act”), and has full legal right, power and authority to enter into this Purchase Agreement and upon receipt of the approving legal opinion and opinion of the Attorney General of the State of Texas, will have at the Closing full legal right, power and authority to: (i) enter into the Supplemental Indenture, the 2020 Thirteenth Supplement to Amended and Restated Depository Agreement (and together with the Amended and Restated Depository Agreement (as defined in the 2020 Thirteenth Supplement to Amended and Restated Depository Agreement), the “Depository Agreement”) and the Continuing Disclosure Agreement; (ii) adopt the Resolution; (iii) issue, sell and deliver the Bonds to the Underwriter Underwriters pursuant to the Trust Indenture, as provided herein; (iv) purchase, pledge and assign and thereby convey a beneficial interest in the Trust Estate (as defined in the Trust Indenture), all in the manner described in the Resolution, the Trust Indenture and the Official Statement; (v) use the amounts made available by the issuance of the Bonds for the purpose of providing funds to (A) refund make and acquire qualifying mortgage loans (including payment of lender compensation with respect to the Issuer’s Series 2018 Issuer Notesrelated mortgage loans) through the purchase of mortgage-backed securities (the “Mortgage Certificates”) issued and guaranteed by the Government National Mortgage Association, (B) make and acquire second lien mortgage loans to qualifying borrowers in the Issuer’s single family mortgage purchase program in order to provide down payment and closing cost assistance to such borrowers and (C) pay a portion of the costs of issuance of the Bonds; and (vi) carry out, give effect to and consummate all the other transactions on its part contemplated by this Purchase Agreement, the Depository Agreement, the Continuing Disclosure Agreement, the Resolution and the Trust Indenture (collectively hereinafter referred to as the “Issuer Documents”) and the Official Statement;