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<br />.~.-,'. . <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />delivery of custody agreements relating to the sale of the Mortgage <br />Loans, the Participation certificates and the Lender Note, <br />obtainment of daylight loans to facilitate the defeasance of the <br />Bonds, sale of assets held under the Resolutions and termination or <br />transfer of servicing rights with respect to the Mortgage Loans and <br />the participation certificates), which they, or any of them, may <br />deem necessary or advisable in order to consummate the defeasance <br />or redemption of such of the Bonds, the sale of such of the <br />Mortgage Loans and the Participation Certificates and the sale of <br />such of the other assets (including the Lender Note) held under the <br />Resolutions at such time or times as such officers shall determine <br />to be in the best interest of the Agency, all in accordance with <br />this resolution. All actions heretofore taken by the officers and <br />agents of the Agency and by the officers of the City of Santa Ana <br />with respect to the defeasance or redemption of the Bonds and the <br />sale of the Mortgage Loans, the Participation certificates and the <br />Lender Note are hereby approved, confirmed and ratified. <br /> <br />section 2. The defeasance or redemption of Bonds and the sale <br />of the Mortgage Loans, the Participation Certificates and the <br />Lender Note shall not be consummated unless such defeasance or <br />redemption can be accomplished without any appropriation of funds <br />by the Agency other than funds presently held under the <br />Resolutions. <br /> <br />section 3. <br />its adoption. <br /> <br />The resolution shall take effect immediately upon <br /> <br />ADOPTED this <br />following vote: <br /> <br />17th day of <br /> <br />November <br /> <br />, 1992, by the <br /> <br />AYES: <br /> <br />Members <br /> <br />ACOSTA, NCGUIGAN, NORTON, RICHARDSON, YOUNG <br /> <br />NOES: <br /> <br />Members <br /> <br />ABSENT: <br /> <br />Members <br /> <br />PULIDO AND GRISET <br /> <br />ABSTENTION: <br /> <br />Members <br /> <br />ATTEST: <br /> <br />rfc.lbÃ, tl J~ <br />Cynt ia J. e son <br />Executive irector <br /> <br />~H{~ <br /> <br />Chairman . <br /> <br />APPROVED AS TO FORM: <br /> <br />~~ <br /> <br />Agency Legal Counsel <br /> <br />",'-"~""",""-,",,"' <br /> <br />2 <br />