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<br />, <br />. <br /> <br />, <br /> <br />. <br /> <br />(8 <br /> <br />RESOLUTION NO. 86-48 <br /> <br />A RESOLUTION OF THE COMMUNITY REDEVELOPMENT <br />AGENCY OF THE CITY OF SANTA ANA CONSENTING <br />TO THE ASSIGNMENT, FOR SECURITY PURPOSES, <br />OF AN OWNER PARTICIPATION AGREEMENT FROM <br />RIVERVIEW COMMUNITY PARTNERSHIP TO CALIFORNIA <br />FIRST BANK <br /> <br />WHEREAS, the Community Redevelopment Agency of the <br />City of Santa Ana (the "Agency") entered into an "Owner <br />Participation Agreement" with Riverview Community Partnership <br />on February 18, 1986, for the redevelopment of a site located <br />generally on the west side of the Santa Ana River between First <br />and Fifth Streets in the city of Santa Ana; and <br /> <br />WHEREAS, Riverview Community Partnership now needs <br />to assign its rights under the said Owner Participation <br />Agreement to California First Bank as security for a <br />construction loan to finance the redevelopment of the site; <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA that the <br />abovesaid assignment for security purposes is hereby approved <br />in substantially the form set forth in Exhibit A, attached <br />hereto and incorporated herein, and the Chairman of the Agency <br />is authorized to evidence the Agency's consent as such document. <br /> <br />ADOPTED this 15th day of <br /> <br />July <br /> <br />, 1986, <br /> <br />AYES: <br />NOES: <br /> <br />MEMBERS: Acosta,Griset,Hart,Johnson <br />Luxembourger, McGuigan & Young <br />MEMBERS: None <br /> <br />ABSENT: <br /> <br />MEMBERS: None <br /> <br />~ <br /> <br />Daniel E. Griset <br />Chairman <br /> <br /> <br />APPROVED AS TO FORM: <br /> <br /> <br />oper <br />Counsel <br />