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<br />. <br /> <br />. <br /> <br />, <br /> <br />. <br /> <br />. <br /> <br />proceeds derived from the insurance p.o1icies maintained pursuant to the <br />Agreement, all funds and accounts created pursuant to this Resolution, and all <br />investment earnings on said funds and accounts. <br /> <br />(t) Site. "Site" means premises upon which the Project is <br />located, as more particularly described in the Agreement. <br /> <br />(u) Supplemental Resolution. "Supplemental Resolution" means any <br />resolution then in full force and effect which has been duly adopted by the <br />Agency at a meeting of the thereof duly convened and held, at which a quorum <br />was present and acted thereon, amendatory of .or súpp 1ementa 1 to th i s <br />Resolution; but only if and to the extent that such Supplemental Reso1uti.on is <br />specifically auth.orized hereunder. <br /> <br />(v) Taxable Date. "Taxable Date" means the date as of which <br />interest payable on the Note is includable in the gross income of a Noteholder <br />by reason of an Official Determination. <br /> <br />Section 1.02. Equal Security. In consideration of the acceptance of <br />the Note by the Bank and by all who shall hold the smae from time to time, <br />this Resolution shall be deemed to be and shall constitute a contract between <br />the Agency and the Holder from time to time of the Note, and the covenants and <br />agreements herein set forth to be performed on behalf of the Agency shall be <br />for the benefit, security and protection of all Holders of the Note without <br />preference, pri.ority or distinction, for any cause whatsoever, except as <br />expressly provided therein or herein. <br /> <br />Section 1.03. Findings. Pursuant to Health and Safety Code Secti.on <br />37629, the Agency hereby fi nds that the Loan to be made from the proceeds of <br />the Notes are to be used for historical rehabilitation as defined in the Act, <br />and the financing of the rehabilitation of the Project is economically <br />feasible. <br /> <br />Section 1.04. No Limitation. The provisions of this Resolution are not <br />intended to limit the pr.ovisions of the Purchase Agreement, the Pledge <br />Agreement (as referenced in the Purchase Agreement and referred to herein as <br />the "Pledge Agreement"), the Agreement or the Collateral Agreement (as <br />referenced in the Agreement and referenced to herein as the "Collateral <br />Agreement"), each of which documents is this day being approved by the Agency. <br /> <br />5 <br />