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. . . RESOLUTION NO. 97-04 A RESOLUTION OF THE HOUSING AUTHORITY OF THE CITY OF SANTA ANA APPROVING A SUPPLEMENTAL INDENTURE OF TRUST, AND AUTHORIZING THE EXECUTION AND DELIVERY THEREOF, AND AUTHORIZING AND DIRECTING THE EXECUTION AND DELIVERY OF DOCUMENTS AND ACTIONS TAKEN IN CONNECTION THEREWITH, IN CONJUNCTION WITH 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, dated as of September 1, 1987, by and between the Issuer and First Trust National Bank, as successor trustee to Seattle-First National Bank (the "Trustee"), as supplemented (the "Indenture); and WHEREAS, the proceeds of the Bonds were used by the Issuer to finance the construction and development of a multifamily rental housing development owned by Sycamore Retirement Apartments, Ltd., a California limited partnership (the "Borrower"); and WHEREAS, the Bonds are secured by a letter of credit (the "Letter of Credit") issued by Mercury Savings and Loan Association, the rights and obligations of which have been succeeded to and assumed by TEJV-1, L,P. a Delaware limited partnership (the "Bank"); and WHEREAS, the Borrower and the Bank have requested certain amendments be made to the Indenture; and WHEREAS, the Indenture provides that the Indenture may be amended by the execution of a supplemental indenture, to modify, amend or supplement the Indenture in any manner, and to add any such other terms, conditions and provisions, which shall not materially adversely affect the holders of the Bonds; and WHEREAS, the amendment of the Indenture pursuant to the provisions of a Supplemental Indenture of Trust, dated as of August 1, 1997, by and between the Issuer and the Trustee will not materially adversely affect the holders of the Bonds; and WHEREAS, the Borrower, the Bank and the Trustee will consented to the execution and delivery of a Supplemental of Trust prior to or on the effective dates thereof. have Indenture WHEREAS, the Issuer has determined, pursuant to section 34292 of the Health and Safety Code of the State of California (the "Housing Authorities Law") that the amendment of the Indenture pursuant to the Supplemental Indenture and the amendment of related documents, and the adoption of this resolution is an "emergency matter" within the meaning of the Housing Authorities Law without benefit of the review by or recommendations of the Redevelopment and Housing Commission.