1981-141 CRA - Laserfiche WebLink

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. . . I. . . " limitation all Loan payments and prepayments thereof and other amount received from the respective Participating Parties pursuant to the Agreements and the Promissory Notes, all amounts and properties derived from the enforcement of the Agency's ri ghts and privileges under the Deeds of Trust, assignments of lessor's interest in leases executed by Participating Parties and security agreements executed by Participating Parties, any guarantees of Promissory Notes, all proceeds derived from the insurance policies maintained pursuant to the Agreements, all funds and accounts created pursuant to thi s Reso 1uti on, and all investment earnings on said funds and accounts. (t) Sites. "Sites" means premises upon which Project SA is located, as more particularly described. in the Agreement pertaining to Project SA; and the premises upon which Project 5B is located as more particularly described in the Agreement pertaining to Project 5B. (u) Supplemental Resolution: "Supplemental Resolution" means any resolution then in 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 quorum was present and acted thereon, amendatory of or supplemental to this Res.o1ution; 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 Noteho1der by reason of an Official Determinati.on. Section 1.02. Equal Security. In consideration 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 t.o be and shall constitute a contract between the Agency and the Holder fr.om time to time of the Note, and the covenants and agreements herein set forth t.o be performed on behalf of the Agency shall be for the benefit, security and pr.otection of all H.o1ders of the Note without 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 finds that the Loans 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 Projects is economically feasible. Section 1.04. No Limitation. The provisions of this Resolution are not intended to limit the provisions of the Purchase Agreement, the Pledge Agreement (as referenced in the Purchase Agreement and referred to herein as the "Pledge Agreement"), the Agreements or the Collateral Assignment (as referenced in the Agreements and referenced to herein as the "Collateral Assignment"), each of which documents is this day being approved by the Agency. 5