SEC Contract Filing

Filing Date: 2017-03-24

Document Content:
<DOCUMENT>
<TYPE>EX-10.8.1
<SEQUENCE>4
<FILENAME>ex1081amendedfhlbpifunding.htm
<DESCRIPTION>AMENDED AND RESTATED P&I FUNDING AND CONTINGENCY PLAN AGREEMENT
<TEXT>
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 <title>Exhibit</title>
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<div><a name="sf73c61c3a2d84c2091fbe164042d8502"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Amended and Restated</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Federal Home Loan Banks P&amp;I Funding and Contingency Plan Agreement</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">This Amended and Restated Federal Home Loan Banks P&amp;I Funding and Contingency Plan Agreement (&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221;) is entered into as of this 1st day of January, 2017 (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Effective Date</font><font style="font-family:inherit;font-size:11pt;">&#8221;) by and among the Office of Finance (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">OF</font><font style="font-family:inherit;font-size:11pt;">&#8221;) and each of the Federal Home Loan Banks (&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Banks</font><font style="font-family:inherit;font-size:11pt;">&#8221;) and supersedes the Federal Home Loan Banks P&amp;I Funding and Contingency Plan Agreement, effective as of July 20, 2006, by and among the OF and Banks. The OF and the Banks are sometimes referred to herein individually as a &#8220;party&#8221; and collectively as the &#8220;parties.&#8221; All references in this Agreement to any of the parties to this Agreement include such party or any successor entity.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">WHEREAS,</font><font style="font-family:inherit;font-size:11pt;">&#32;the Banks are jointly and severally liable for the payment of consolidated obligations issued pursuant to Section 11 of the Federal Home Loan Bank Act, as amended (12 U.S.C. &#167;1431) (&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">COs</font><font style="font-family:inherit;font-size:11pt;">&#8221;); and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:11pt;">, the OF has the authority under 12 CFR &#167; 1273.6(a),</font><font style="font-family:inherit;font-size:12pt;">&#32;or any successor provision adopted by the Federal Housing Finance Agency (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Finance Agency</font><font style="font-family:inherit;font-size:12pt;">&#8221;),</font><font style="font-family:inherit;font-size:11pt;">&#32;to issue and service (including making timely payments on principal and interest due) consolidated obligations issued on behalf of the Banks pursuant to, and in accordance with, the policies and procedures established by the OF Board of Directors; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:11pt;">, the OF and the Banks have developed P&amp;I Funding and Contingency Plan Procedures (as the same may be amended, modified, or supplemented, the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Procedures</font><font style="font-family:inherit;font-size:11pt;">&#8221;) to deal with the possibility that a Bank may not make a payment of debt service on COs to the OF on a timely basis; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:11pt;">, the OF Board of Directors has approved the Procedures and determined that the OF should obtain the written agreement of the Banks on several matters relating to the Procedures, which matters are included in this Agreement; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:11pt;">, the Federal Housing Finance Board (&#8220;Finance Board,&#8221; predecessor to the Finance Agency), supported the initial adoption of the OF&#8217;s and the Bank&#8217;s Procedures to deal with the possibility that a Bank may not make a payment of debt service on COs to the OF on a timely basis by issuing the waiver attached hereto as </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Exhibit A</font><font style="font-family:inherit;font-size