Res98 RD-98-09 - Laserfiche WebLink

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ESTOPPEL CERTIFICATE OF - REDEVELOPMENT AGENCY OF THE CITY OF REDWOOD CITY June a~°~, 1998 TO: TRANSAMERICA OCCIDENTAL LnrE INSURANCE COMPANY, a California corporation ("TA") RE: MEZES COURT ASSOCIATES, A CALIFORNIA LtMrr~O PARTNERSHIP (the "Partnership") A. Redevelopment Agency of the City of Redwood City (the "Lender") has made Mezes Court Associates, a Califomia Limited Partnership (the "Borrower"), that certain thirty (30) year loan in the approximate amount of $1,445,000 at a fixed interest rate of 3% per annum (the "RDA Loan"). B. TA is a limited partner in Borrower pursuant to that certain First Amended and Restated Limited Partnership Agreement of Mezes Court Associates, a California Limited Partnership dated as of March 31, 1997 (the "Partnership Agreement"). Pursuant to the Partnership Agreement, TA has agreed to make certain capital contributions to the Borrower and has delivered a Capital Note to the Partnership in the amount of its outstanding capital contribution obligations to Borrower. In connection with the funding of the first payment under the Capital Note and as a condition precedent thereto, TA is requiring the confi,mation of certain matters in accordance with the terms of the Partnership Agreement. NOW THEREFORE, in consideration of mutual covenants hereinafter set forth, and intending to be legally bound hereby and with the understanding that TA is relying hereon, Lender hereby represents, warrants and covenants for the benefit of TA as follows: 1. Lender certifies that it entered into the RDA Loan with the Borrower pursuant to the terms and conditions specified in the loan documents described in Exhibit A (the "Loan Documents"), and that the only loan documents evidencing or securing the Loan are those described on Exhibit A. There are no other documents, agreements or instruments evidencing or securing all or any portion of the RDA Loan and the Loan Documents have not been modified or amended. 2. As if the date of this Estoppel Certificate, Lender has fully funded the RDA Loan, and the outstanding principal balance of the RDA Loan is ~ I ~q'4,~6-tZO ~ t ,trcrc.~n kaa b,,,,,, paid t~z~ugh . 199_. ~ ' ' 3. As of the date of this Estoppel Certificate, Lender has not declared or given notice of a default under the Loan Documents and Lender has no actual knowledge of any event, occurrence or omission that would be a default or event of default with notice or passage of time or both. 21170605 March 11, 1998