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Borrower, the Successor Agency is acknowledging the repayment of the General <br /> Portion of the Loan (including all accrued and unpaid interest thereon) and terminating <br /> its right, title and interest in the Loan Documents and Covenant, and acknowledging <br /> that the Housing Successor Agency is the holder and assignee of all of the former <br /> RDA's remaining right, title and interest in the Loan and each of the Loan Documents <br /> and Covenant; and <br /> WHEREAS, the Housing Successor Agency held a public meeting on November <br /> 9, 2015 on the proposed Loan Modification following the notice required by law. <br /> NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF REDWOOD CITY <br /> AS HOUSING SUCCESSOR AGENCY TO THE REDWOOD CITY REDEVELOPMENT <br /> AGENCY DOES HEREBY RESOLVE AS FOLLOWS: <br /> Section 1. The recitals set forth above are true and correct and incorporated <br /> herein. <br /> Section 2. The City Council as Housing Successor Agency hereby approves the <br /> Omnibus Amendment to Loan Documents attached hereto as Exhibit A, and, contingent <br /> upon (a) the review and approval, or deemed approval, by the Department of Finance <br /> and (b) approval by the Successor Agency Board, hereby authorizes the City Manager <br /> to execute the Loan Documents on behalf of the City as Housing Successor Agency, <br /> subject to any minor, technical or clarifying changes that may be approved by the City <br /> Attorney, and further authorizes the City Manager to execute any further documents <br /> necessary to effectuate the Omnibu� Amendment to Loan Documents. <br /> Section 3. This resolution takes effect upon adoption. <br /> * � * <br /> ATTY/RES0.3151/CC RESO AUTHORIZING LOAN MODIFICATION FOR MCA <br /> REV:10-29-15 VR <br /> Page 3 of 4 <br />