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JAH:dft 5/12/92 (009/30) <br /> <br /> WHEREAS, Buyers have represented through their attorney that <br />they will agree to assume and be bound by all of the terms and <br />conditions of the Participation Agreement provided that Agency <br />acknowledges Redwood Plaza Investor's transfer of the Property <br />and Project to Buyers and Buyers' assumption of the Participation <br />Agreement; <br /> <br /> NOW, THEREFORE, The Redevelopment Agency of the City of <br />Redwood City does resolve as follows: <br /> <br /> The Agency hereby approves the agreement entitled "Agreement <br />to Assume Owner Participation Agreement (Ostertag)", a copy of <br />which is on file in the office of the Secretary for reference to <br />the full particulars thereof, and the Executive Director is <br />authorized and directed to execute the same on behalf of this <br />Agency. <br /> <br /> <br />