1981-143 CRA - Laserfiche WebLink

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. . , . . the Agency's rights and privileges under the Deed of Trust, assignments of lessor's interest in leases executed by Participating Party and security agreements executed by Participating Party, any guarantees of Promissory Note, all proceeds derived from the insurance policies maintained pursuant to the Agreement, all funds and accounts created pursuant t.o this Resolution, and all investment earnings on said funds and accounts. (t) Sites. "Site" means premises upon which the Project is located, as more particularly described in the Agreement. (u) Supplemental Resolution. "Supplemental Resolution" means any resolution then ln full force and effect which has been duly adopted by the Agency at a meeting of the thereof duly convened and held, at which a qu.orum was present and acted thereon, amendatory of or supplemental to this Resolution; but only if and to the extent that such Supplemental Resolution is specifically authorized hereunder. (v) Taxable Date. "Taxable Date" means the date as of which interest payable on the Note is includable in the gross income of a Noteholder by reason of an Official Determination. Section 1.02. Equal Security. In c.onsideration .of the acceptance of the Note by the Bank and by all who shall hold the same from time to time, this Resolution shall be deemed to be and shall constitute a contract between the Agency and the Holder from time to time of the Note, and the covenants and agreements herein set forth t.o be perf.ormed on behalf of the Agency shall be for the benefit, security and protection of all Holders of the N.ote with.out preference, priority or distinction, for any cause whatsoever, except as expressly provided therein or herein. ' Section 1.03. Findings. Pursuant to Health and Safety Code Section 37629, the Agency hereby fi nds that the Loan to be made from the proceeds .of the Notes are to be used for historical rehabilitation as defined in the Act, and the financing of the rehabilitation of the Project is economically feasible. Section 1.04. No Limitation. The provisions of this Resolution are not intended to limit the provisl.ons of the Purchase Agreement, the Pledge Agreement ,( as referenced in the Purchase Agreement and referred to herein as the "Pledge Agreement"), the Agreement or the C.oll atera 1 Assignment (as referenced in the Agreement and referenced to herein as the "Collateral Assignment"), each of which documents is th'is day being approved by the Agency. 5