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<br />.
<br />
<br />.
<br />
<br />.
<br />
<br />E, The Borrower has requested that the Authority execute and deliver a
<br />financing agreement and a regulatory agreement and declaration of restrictive
<br />covenants in connection with the issuance and delivery of the Bonds; and
<br />
<br />F. The Authority hereby finds and declares that this resolution is being adopted
<br />pursuant to the powers granted by the Act; and
<br />
<br />G, All conditions, things and acts required to exist, to have happened and to
<br />have been performed precedent to and in the issuance of the Bonds and the
<br />implementation of the Program as contemplated by this resolution and the documents
<br />referred to herein exist, have happened and have been performed in due time, form
<br />and manner as required by the laws of the State of California, including the Act.
<br />
<br />Section 2. Pursuant to the Act and the Financing Agreement (defined below),
<br />revenue bonds of the Authority, designated as "Housing Authority of the City of Santa
<br />Ana Multifamily Housing Revenue Bonds (Minnie Street II Apartments) 2002 Series A"
<br />in an aggregate principal amount not to exceed $2,000,000 (the "Bonds"), are hereby
<br />authorized to be remarketed, The Bonds shall be executed by the manual or facsimile
<br />signature of the Chairperson, Vice Chairperson, Executive Director or Treasurer of the
<br />Authority, and attested by the manual or facsimile signature of the Secretary, in the
<br />form set forth in and otherwise in accordance with the Financing Agreement.
<br />
<br />Section 3. A Financing Agreement (the "Financing Agreement") among the
<br />Authority, the Borrower and Washington Mutual Bank, FA, as originator of the Mortgage
<br />Loan and owner of the Bonds, in the form presented at this meeting, is hereby
<br />approved, The Chairperson, Vice Chairperson, Executive Director and Treasurer of the
<br />Authority, or any authorized designee (the "Designated Officers") are, and each of them
<br />acting alone is, hereby authorized, for and in the name and on behalf of the Authority,
<br />to execute and deliver the Financing Agreement, and the Secretary or any authorized
<br />deputy thereof is hereby authorized, for and in the name and on behalf of the Authority,
<br />to attest the Designated Officer's signature on the Financing Agreement, in substantially
<br />said form, with such additions thereto or changes therein as are recommended or
<br />approved by the Executive Director upon consultation with bond counsel to the
<br />Authority, including such additions or changes as are necessary or advisable in
<br />accordance with Section 5 hereof, and which may be required in connection with
<br />providing alternate security for the payment of the principal of and interest on a portion
<br />of the Bonds, (provided that no additions or changes shall authorize an aggregate
<br />principal amount of Bonds in excess of $2,000,000, the approval of such additions or
<br />changes to be conclusively evidenced by the execution and delivery by the Authority of
<br />the Financing Agreement. The date, maturity dates, interest rate or rates, interest
<br />payment dates, denominations, form, registration provisions, manner of execution,
<br />place of payment, terms of redemption, and other terms of the Bonds shall be as
<br />provided in the Financing Agreement as finally executed,
<br />
<br />2
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