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. . . . ~. RESOIlJTIŒ 90-1 RESOIlJTIŒ OF 'mE HOOSING AUIH:JRITY OF 'mE CITY OF SANI'A ANA APPROVING, AtJI'HORIZING, AND DIRECl'ING 'mE EXECUl'IŒ AND DELIVERY OF A FIRST SUPPUMENTAL TRUST INDEN'lURE, AND AMENIMENT 'IO A IQAN ORIGINATION AND SERVICING AGREEMENT, A REMARKEl'ING AGREEMENT, AND DIRECl'ING RElATED ACI'IONS IN OONNECl'ION 'IHEREWI'lH, IN a:NJUNCl'IŒ WI'lH 'mE HARJÐR :roINTE APARIMENTS PROJECT WHEREAS, the HousinJ Authority of the city of Santa Ana (the "Authority") has issued its Variable Rate Den1arñ M.1ltifamily HousinJ Revenue Bolx:ls (Mercury Sav~ and !Dan Associati01'1,/HartX)r Points Apartments Project), 1985 Series C in the Q':I'::.L"":lð.te principal anrIlU1t of $6,100,000 (the "Bolx:ls") pursuant to an In:ienture of Trust, dated as of December 1, 1985, from the HousinJ Authority to Seattle-First National Bank, as Trustee (the "Trustee"): and I WHEREAS, the developer of the project financed with the proceeds of the Bolx:ls, Harbor Points Apartments, a California general partnership (the "Developer") has notified Bankers Trust Carpany ("Bankers Trust") that pursuant to the RemarketinJ Agreement, dated as of December 1, 1985, by and am:m;J the Authority, Mercury Sav~ and !Dan Association (the "Association"), Bankers Trust and the Developer, the Developer intems to replace Bankers Trust as remarketinJ agent and has requested that the Authority amerxi the In:ienture and the !Dan Origination and ServicinJ Agreement, dated as of December 1, 1985, am:m;J the Authority, the Trustee, the Association and the Developer (the "Loan Origination Agreement") to pIUVide a revised method of deten1\inin;J the interest rate on the Bolx:ls and enter into a new remarketinJ agreement in =nnection with the remarketinJ of the Bolx:ls: and WHEREAS, section 1002 of the In:ienture provides that the Indenture may be amen:ied by the execution of a SUWlemental iIx:ienture approved and consented to by the OWners of all of the Bolx:ls then outstan:i.in3" for the purpose of reducinJ the interest rate on the Bolx:ls; WHEREAS, the Authority anticipates that the OWners of all of the Bolx:ls 0ùtstarxtirx:J will consent to and approve the execution of a supplemental in:ienture (the "First Supplemental Trust In::1enture") as provided in the In::1enture; and WHEREAS, Section 10.6 of the !Dan Origination Agreement provides for the amerduent of such 1\J,.L....."elt't upon the written consent of all of the parties thereto: and WHEREAS, the Developer, the Association, and the Trustee have consented to the execution and delivery of the First Supplemental Trust In:ienture and the Developer, the Association and the Trustee have consented to the execution and delivery of an amen:!ment to the !Dan Origination Agreement (the "First Amerx:lment"); and