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6. Security for the Loan. The Loan constitutes an obligation and <br />indebtedness of the Agency, secured by a pledge of the Tax Revenues. Payment of <br />the Loan from Tax Revenues is subordinate to the payment of the principal of and <br />interest on any other notes, bonds or other indebtedness of the Agency, or which is <br />otherwise expressly issued on a senior lien basis to the Loan. <br /> <br /> 7. Maintenance of Tax Revenues. Agency shall comply with all <br />requirements of the Redevelopment Law to insure the allocation and payment to it of <br />the Tax Revenues, including without limitation, the timely filing of any necessary <br />statements of indebtedness with appropriate officials of the County of San Mateo and <br />(in the case of supplemental revenues and other amounts payable by the State of <br />California) appropriate officials of the State of California. The Agency shall not amend <br />the Redevelopment Plan, or enter into any agreement with the County or any other <br />governmental or private entity, which would have the effect of reducing the amount of <br />Tax Revenues otherwise available to the Agency for payment of the Loan. <br /> <br /> 8. Further Assurances. Along with the attached Promissory Note, the <br />Agency will adopt, make, execute and deliver any and all such further resolutions, <br />instruments and assurances as may be reasonably necessary or proper to carry out the <br />intention or to facilitate the performance of this Loan Agreement and for the better <br />assuring and confirming unto the City of the rights and benefits provided in this Loan <br />Agreement. <br /> <br /> 9. Entire Aqreement. This Agreement, together with any other written <br />document referred to or contemplated by it, embody the entire Agreement and <br />understanding between the parties relating to the subject matter of it. Neither this <br />Agreement nor any of its provisions may be amended, modified, waived or discharged <br />except in a writing signed by both parties. The City Manager and Executive Director are <br />authorized to approve, on behalf of their respective Party, non-material written <br />amendments to this Agreement or any of its Exhibits. <br /> <br />/// <br />/// <br />/// <br />/// <br />/// <br /> <br />/// <br /> <br />/// <br /> <br />/// <br /> <br />/// <br />F:Atty/Agr/Agr.088 <br />010703 3 <br /> <br /> <br />