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<br />. <br />. <br /> <br />. <br /> <br />8 <br /> <br />. <br /> <br />ESCROW AGREEMENT <br /> <br />THIS ESCROW AGREEMENT, dated as of May 1, 1986, which <br /> <br />constitutes an escrow agreement pursuant to Resolution <br /> <br />No. ------ of the City of Santa Ana Community Redevelopment <br /> <br />Agency (the "Agency") adopted on <br /> <br />, 1986 <br /> <br />(the <br /> <br />"Resolution") by and between the Agency and Security Pacific <br /> <br />National Bank (the "Escrow Bank"), a national banking <br /> <br />association having and exercising full and complete trust <br /> <br />powers duly organized and existing under the laws of the United <br /> <br />States of America, being a member of the Federal Deposit <br /> <br />Insurance Corporation, and having an office in the City of Los <br /> <br />Angeles, California, <br /> <br />WIT N E SSE T H: <br /> <br />WHEREAS, under and pursuant to Resolution No, 84-20 (the <br />"1984 Resolution") the Agency issued its $19,000,000 "City of <br /> <br />Santa Ana Community Redevelopment Agency, South Main Street <br /> <br />Redevelopment Project, Tax Allocation Bonds, 1984 dated as of <br /> <br />December 1, 1984, and maturing on the dates and in the amounts <br /> <br />set forth in the 1984 Resolution (the "Refunded Bonds"); and <br /> <br />WHEREAS, for the purpose, among others, of refunding the <br /> <br />outstanding balance of the Refunded Bonds by paying and <br /> <br />retiring the same at the first available redemption date, the <br />