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<br />. <br /> <br />... <br /> <br />. <br /> <br />RESOLUTION NO. 82-27 <br />PAGE TWO <br /> <br />(3) The said note shall be secured by a deed of <br />trust on the property located at 217 North Main Street, the <br />lien of which shall be subordinate to the deeds of trust or <br />other security instruments securing the repayment of loans <br />financing the acquisition and/or rehabilitation of the said <br />property by Barrister Building Ltd. <br /> <br />(4) Liens on the said property imposed by deeds <br />of trust or other security instruments which are senior to <br />the lien created by the said deed of trust shall not exceed <br />in the aggregate the amount of $2,750,000.00 at the time the <br />loan is funded. <br /> <br />(5) The loan shall be funded and the note <br />executed on the date the loan proceeds are turned over to <br />Barristers' Building Ltd., which shall be subsequent to <br />actual completion of the project and upon written notice <br />from the Barrister' Building Ltd. <br /> <br />ADOPTED this <br />by the following vote: <br /> <br />, 1982, <br /> <br />day of <br /> <br />3rd <br /> <br />May <br /> <br />AYES: MEMBERS: Acosta, Bricken, Luxembourger, <br /> McGuigan, Serrato <br />NOES: MEMBERS: None <br />ABSENT: MEMBERS: Griset, Markel <br /> <br />ATTEST: <br /> <br />~~~ <br /> <br />Chairman <br /> <br />R.'~ <br /> <br />Executive Director/ <br />Recording Secretary <br /> <br />APPROVED AS TO FORM: <br /> <br />~~ <br /> <br /> <br />&i <br /> <br />Edward J. Co <br />Agency Legal <br /> <br />t <br /> <br />lA <br />