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RECORDING REQUESTED BY STEWART1TITLE s JHHw:BDQ:kla Recorded in the County of Orange, California TO BE RECORDED AND WHEN RECORDED Gary L. Granvilie, Clerk/Recoder RETURN TO: IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII No Fee Jones Hall Hill&White, 19960387007 08:00AM 07/30/96 A Professional Law Corporation Four Embarcadero Center, 19th Floor 005 285360 12 50 STE San Francisco,California 94111 M11 17 7.00 48.00 0.00 0.00 0.00 0.00 Attention: Brian D. Quint, Esq. THIS TRANSACTION IS EXEMPT FROM CALIFORNIA DOCUMENTARY TRANSFER TAX PURSUANT TO SECTION 11922 OF THE CALIFORNIA REVENUE AND TAXATION CODE. THIS DOCUMENT IS EXEMPT FROM RECORDING FEES PURSUANT TO SECTION 6103 OF THE CALIFORNIA GOVERNMENT CODE. MEMORANDUM OF ASSIGNMENT • 043 THIS MEMORANDUM OF ASSIGNMENT (this "Memorandum"), made and entered 7.i into as of July 1, 1996, is by and between the COUNTYWIDE PUBLIC FINANCING IA AUTHORITY, a joint exercise of powers authority organized and existing under and by virtue (^ of the laws of the State of California, as lessor (the "Authority"), and U.S. TRUST COMPANY OF CALIFORNIA, N.A., a national banking association organized and existing under the laws flof the United States of America, as trustee (the "Trustee"); WITNESSETH: In the joint and mutual exercise of their powers, in consideration of the mutual covenants herein contained, and for other valuable consideration, the parties hereto recite and agree as follows: Section 1. Recitals. (a) The Authority and each of the Cities of Brea, Buena Park, Fullerton, Garden Grove, Orange, Santa Ana,Seal Beach, Stanton and Tustin (collectively, the "Cities") have entered into those certain Lease Agreements, each dated as of July 1, 1996 (the Lease Agreements"), each of which is recorded concurrently herewith, under which the Authority has leased to the Cities certain land,buildings and facilities, including the land which is described more fully in Exhibit A attached hereto and by this reference incorporated herein (the "Leased Premises"). (b) Under the Lease Agreements, the Authority has agreed to lease the Leased Premises to the Cities in the manner and on the terms set forth therein, which terms include, without limitation, the obligation of the Cities to pay Lease Payments (as defined in the Lease Agreements) to the Authority,as the rental for the lease of the Leased Premises. (c) Under the Lease Agreements and under an Indenture of Trust, dated as of July 1, 1996,by and between the Authority and the Trustee (the "Indenture"), the Authority is required to cause to be deposited certain sums of money to be credited,held and applied in accordance therewith.