Section 250.304  Prepayment

The Authority may, at its option, apply any Prepayment it receives as follows:

a)         to the purchase of additional Mortgage Loans in accordance with the requirements of the Program;

b)         to the purchase from potential Lenders of Mortgage Loans previously made by such Lenders, on such terms and conditions as the Authority shall consider necessary, including requirements as to the making of additional Mortgage Loans with the proceeds of such purchase;

c)         to the purchase or redemption of Bonds, subject in each case to the requirements of the Authority's resolutions relating to the issuance of its Bonds; or

d)         for other corporate purposes of the Authority.