Sample Form Resolution printable pdf download

PLEASE NOTE THS TEMPLATE RESOLUTION IS FOR GENERAL REFERENCE PURPOSES ONLY. IT MAY BE

REVISED, REPLACED OR OTHERWISE MODIFIED IN WHOLE OR IN PART BY IHDA IN ITS SOLE DISCRETION.

CIRCULATION OF THIS TEMPLATE SHALL NOT BE CONSTRUED AS A COMMITMENT OF ANY KIND BY IHDA TO

PROCEED WITH A TRANSACTION.

SAMPLE FORM RESOLUTION

ENTITY NAME

RESOLUTIONS

(Sample language for corporate

entity)

I, the undersigned, in my capacity as corporate Secretary of [“Entity Name”], a(n) [name of State where entity is

registered and type of entity] (the “Lender”) do hereby certify that at a meeting of the Board of Directors duly held on

the __________ day of _______________, 2017, at which meeting a quorum of the Board of Directors was present and

acting throughout, the following resolutions were duly and unanimously adopted:

(Sample language for LLC entity, list all LLC’s that are managing

members)

The undersigned, being the managing member of [“Entity Name”], LLC, a(n) [name of State where entity is

registered) limited liability company, managing member of __________________ , a(n) [name of State where entity is

registered] limited liability company (CONTINUE HERE AND LIST ALL MANAGING MEMBER LLC’S) (the “Lender”) [in lieu

of holding a formal meeting, do hereby consent to the adoption of, and adopt the following resolutions] or [duly

organized and existing under the laws of the State of _________, which resolution was duly adopted at a legally

convened meeting of the members of said Company do hereby consent to the adoption of, and adopt the following

resolution]

WHEREAS, the Lender desires to sell Mortgage Loans, to the Illinois Housing Development Authority (the

“Authority) from time to time in connection with the Authority’s Single Family Mortgage Purchase Program (the

“Program”) in accordance with the Authority’s Program Directives and Seller’s Guide, as amended from time to time (the

“Guide”); and

WHEREAS, in order to participate in the Program, the Lender is required to apply to be a participating lender and

to execute and deliver a Mortgage Purchase Agreement and various other documents.

NOW, THEREFORE, BE IT RESOLVED by the Board of Directors/Members of [Entity name] as follows:

1. (Entity name) is authorized to apply to the Authority for approval, to become a participating lender in order to

sell single family Mortgage Loans to the Authority upon the terms and conditions established by the Authority in

the Program Directives and the Guide and other program documents.

(Entity name) is authorized to enter into a Mortgage Purchase Agreement with the Authority which established

the rights and responsibilities in connection with the sale of said Mortgage Loans.

3. The following officer is authorized to execute any and all documents necessary to enter into a binding contract

with the Authority for the sale of Mortgage Loans:

Name/Title

Signature

______________, ______________

__________________________________________

Sample Form Resolution