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RESOLUTION NO. 95-001-SAFA <br /> <br />RESOLUTION OF THE SANTA ANA FINANCING <br />AUTHORITY APPROVING THE FORMS OF AND <br />AUTHORIZING THE EXECUTION AND DELIVERY BY THE <br />AUTHORITY OF A MODIFICATION OF GROUND LEASE <br />AND A MODIFICATION OF LEASE; MAKING CERTAIN <br />DETERMINATIONS RELATING THERETO; AND <br />AUTHORIZING CERTAIN OTHER ACTION IN <br />CONNECTION THEREWITH <br /> <br /> WHEREAS, the Santa Aha Financing Authority (the <br />"Authority") is a joint powers authority duly created, <br />established and authorized to transact business and exercise its <br />powers, all under and pursuant to Articles 1, 2 and 4 of Chapter <br />5 of Title 1 of the Government Code of the State of California <br />(the "Law"); and <br /> <br /> WHEREAS, the Authority and the City of Santa kna (the <br />"city"), a municipal corporation duly organized and existing <br />under the Constitution and laws of the State of California, have <br />entered into a Ground Lease Agreement, dated as of March 1, 1994 <br />(the "1994 Ground Lease"), recorded on March 22, 1994 in the <br />Office of the County Recorder of Orange in the Official Records <br />of the County; and <br /> <br /> WHEREAS, the Authority and the City have entered into a <br />Lease Agreement, dated as of March 1, 1994 (the "1994 Lease") <br />recorded on March 22, 1994 in the Office of the County Recorder <br />of Orange in the Official Records of the County; and <br /> <br /> WHEREAS, the Authority and the city inadvertently <br />included certain real property (the "Real Property") as part of <br />the real property subject to the 1994 Ground Lease as described <br />in Exhibit A--Description of the Parcels" of the 1994 Ground <br />Lease and as part of the real property subject to the 1994 Lease <br />as described in "Exhibit A--Description of Leased Property? of <br />the 1994 Lease; and <br /> <br /> WHEREAS, the Authority and the City find it desirable <br />to release the Real Property from the 1994 Ground Lease and the <br />1994 Lease; and <br /> <br /> WHEREAS, there has been presented at this meeting forms <br />of a Modification of Ground Lease Agreement (as hereinafter <br />defined), and a Modification of Lease Agreement (as hereinafter <br />defined), pursuant to which the Authority and the city will <br />release the Real Property from the 1994 Ground Lease and 1994 <br />Lease; and <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Santa Ana <br />Financing Authority, as follows: <br /> <br /> <br />