AgdaPkt 2014-09-22 Closed and Joint with SA

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ATTY/RESO.3016/CC FIG TREE PACE PROGRAM REV: 9-12-14 PT Page 3 of 15 (1) Such proceedings are conducted pursuant to one or more Resolutions of Intention in substantially the form of the ROI; (2) The Participating Property Owners, who must be the legal owners of such property, voluntarily execute a contract pursuant to Chapter 29 and comply with other applicable provisions of California law in order to accomplish the valid levy of assessments; and (3) The City will not be responsible for the conduct of any assessment proceedings, the levy of assessments, any required remedial action in the case of delinquencies in such assessment payments, or the issuance, sale or administration of the Bonds in connection with Figtree PACE. SECTION 5. Program Report. The City Council hereby acknowledges that pursuant to the requirements of Chapter 29, CEDA has prepared and will update from time to time the "Program Report" for Figtree PACE (the "Program Report") and associated documents, and CEDA will undertake assessment proceedings and the financing of Improvements as set forth in the Program Report. SECTION 6. Foreclosure. The City Council hereby acknowledges that the Law permits foreclosure in the event that there is a default in the payment of assessments due on a property. The City Council hereby authorizes CEDA to proceed with collection and foreclosure of the liens on the defaulting properties within the District, including accelerated foreclosure pursuant to the Program Report. SECTION 7. Indemnification and Other Program Documents. The City Council acknowledges that Figtree Company, Inc. has provided the City with an indemnification agreement, as shown in Exhibit B, for any type of claim or action as a result of the acts or omissions of Figtree, its officers, employees, subcontractors and agents. The City Council hereby authorizes the City Manager and appropriate officials and staff of the City to execute and deliver the Indemnification Agreement to Figtree as well as any other documents necessary to allow implementation of this Program in conformance with this Resolution. SECTION 8. City Contact Designation. The appropriate officials and staff of the City are hereby authorized and directed to make applications for Figtree PACE available to all property owners who wish to finance Improvements. The following staff persons, together with any other staff designated by the City Manager from time to time, are hereby designated as the contact persons for CEDA in connection with Figtree PACE: Vicki Sherman, Environmental Initiatives, 650-780-5917, vsherman@redwoodcity.org. SECTION 9. City Execution of Documents. The appropriate officials and staff of the City are hereby authorized and directed to execute and deliver such closing certificates, requisitions, agreements and related documents as are reasonably required by CEDA in accordance with the Program Report to implement Figtree PACE for Participating Property Owners. 9.B. - Page 18