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. t . ~. . .' .- RESOLUTION NO. 94-04 A RESOLUTION OF THE HOUSING AUTHORITY OF THE CITY OF SANTA ANA APPROVING ASSUMPTION OF REMARKETING AGENT DUTIES AND AUTHORIZING AND DIRECTING THE EXECUTION AND DELIVERY OF DOCUMENTS AND ACTIONS TO BE TAKEN IN CONNECTION THEREWITH IN CONJUNCTION WITH THE SYCAMORE APARTMENTS PROJECT WHEREAS, the Housing Authority of the City of Santa Ana (the "Issuer") has issued its variable Rate Demand Multifamily Housing Revenue Bonds (Mercury Savings and Loan Association/Sycamore Apartments Project), 1987 Series A in the aggregate principal amount of $3,290,000 (the "Bonds") pursuant to an Indenture of Trust (the "Indenture"), dated as of September 1, 1987, by and between the Issuer and Seattle First National Bank, as Trustee (the "Trustee"); and WHEREAS, Sycamore Retirement Apartments, Ltd., A California Limited Partnership, the owner of the project financed with the proceeds of the Bonds (the IIDeveloper"), has requested that the Issuer approve the assumption of Remarketing Agent duties by Paine Webber, Incorporated pursuant to section 6 of that certain Remarketing Agreement, dated as of September 1, 1987, by and among Mercury Savings and Loan Association Prudential Bache Securities, Incorporated and the Developer (the "Remarketing Agent") . NOW THEREFORE, BE IT RESOLVED BY THE HOUSING AUTHORITY OF THE CITY OF SANTA ANA AS FOLLOWS: 1. The assumption by Paine Webber Incorporated of the duties of the Remarketing Agent set forth in the provisions of the Remarketing Agreement is hereby approved. The Executive Director of the Issuer is hereby authorized and directed, for and in the name and on behalf of the Issuer, to execute and deliver any and all documents, certificates or consents, and to take any and all actions and do any and all things as are necessary to effect the assumption of such Remarketing Agent by Paine Webber Incorporated.