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<br />,ORIGINAL <br />-.., . <br /> <br />fEB 2 3 1987 <br /> <br />RESOLUTION NO. 1 0 43 6 <br />A RESOLUTION AUTHORIZING THE EXECUTION OF <br />AMENDMENTS TO LOAN AGREEMENT, <br />INTERCREDITOR AGREEMENT AND INDENTURE OF TRUST <br /> <br />$28,000,000 <br />CITY OF REDWOOD 'CITY <br />MULTIFAMILY HOUSING REVENUE BONDS <br />(Redwood Shores Apartments Project) <br />SERIES 1985B <br /> <br />RESOLVED, by the Council of the City of Redwood City, that, <br /> <br />WHEREAS, pursuant to Resolution No. 10047, A Resolution <br />Authorizing the Issuance of Multifamily Housing Revenue Bonds, <br />Establishing Their Terms and Providing for Their Security, and <br />Providing Covenants for Their Protection, Authorizing Their Sale <br />at Private Sale, Authorizing the Execution of a Bond Purchase <br />Agreement, Regulatory Agreement, Loan Agreement, Intercreditor <br />Agreement and Indenture of Trust and Appointing a Trustee <br />Thereunder, Authorizing Approval of a Form of an Official <br />Statement and Authorizing its Execution, and Authorizing the <br />Financing of the Project and Other Matters in Connection <br />Therewith, adopted by the council of the City on October 28, <br />1985, this Council authorized the execution of a Loan Agreement <br />(the "Loan Agreement") between the City and Redwood Shores <br />Apartment Associates, Ltd., a California limited partnership (the <br />"Developer"), an Intercreditor Agreement (the "Intercreditor <br />Agreement") among the City, Continental Casual ty Company (the <br />"Surety") and Security Pacific National Bank, a national banking <br />association (The "Trustee"), and an Indenture of Trust (the <br />"Indenture") between the Ci ty and the Trustee~ <br /> <br />WHEREAS, said documents each were executed by persons <br />identified as the parties to each such document; <br /> <br />WHEREAS, upon review, since execution, possible ambiguities <br />in each such document have been discovered which each of the <br />parties are agreed it is desirable to clarify; <br /> <br />WHEREAS, forms of an Amendment No. 1 to Loan Agreement (the <br />"Amendment to Loan Agreement") between the City and the <br />Developer, with forms of consents by the Surety, the Trustee and <br />M Bank Dallas, National Association (the "Bank"), an Amendment <br />No. 1 to Intercreditor Agreement (the "Amendment to Intercreditor <br />Agreement") among the City, the Trustee and the Surety, with <br />forms of consents by the Deve loper and the Bank, and an Amendmen t <br />No. 1 to Indenture of Trust (the "Amendment to Indenture") <br /> <br />gen0121.A2 <br /> <br />1 0 43 6 <br /> <br />'. <br />