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<br />F, The Authority hereby further finds and declares that this
<br />resolution is being adopted pursuant to the powers granted by the Act.
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<br />G, All conditions, things and acts required to exist, to have
<br />happened and to have been performed precedent to and in the issuance of the Bonds
<br />and the implementation of the Program as contemplated by this resolution and the
<br />documents referred to herein exist, have happened and have been performed in due
<br />time, form and manner as required by the laws of the State of California, including the
<br />Act.
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<br />Section 2, Pursuant to the Act, the Bonds are hereby authorized to be issued.
<br />The Bonds shall be executed by the manual or facsimile signature of the Executive
<br />Director and attested by the manual or facsimile signature of the Secretary of the
<br />Authority, in the form set forth in and otherwise in accordance with the Financing
<br />Agreement (as defined below), The date, maturity dates, interest rate or rates, interest
<br />payment dates, denominations, form registration privileges, manner of execution, place
<br />of payment, terms of redemption, and other terms of the Bonds shall be as provided in
<br />the Financing Agreements as finally executed.
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<br />Section 3, Financing Agreement (the "Financing Agreement") among
<br />Washington Mutual Bank, FA, as loan originator and Bond purchaser, the Authority and
<br />the Borrower, in the form presented to this meeting, is hereby approved. The
<br />Chairman, Executive Director, Treasurer or Secretary of the Authority (the "Designated
<br />Officers.) are, and each of them acting alone is, hereby authorized and directed, for
<br />and in the name and on behalf of the Authority, to execute and deliver the Financing
<br />Agreement in said form, with such additions thereto or changes therein as are
<br />recommended or approved by such officers upon consultation with Jones Hall, A
<br />Professional Law Corporation, bond counsel to the Authority ("Bond Counsel"),
<br />including such additions or changes as are necessary or advisable in accordance with
<br />Section 5 hereof, the approval of such additions or changes to be conclusively
<br />evidenced by the execution and delivery by the Authority of the Financing Agreement.
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<br />Section 4. The Regulatory Agreement and Declaration of Restrictive Covenants
<br />with respect to the Project (the "Regulatory Agreement") between the Authority and the
<br />Borrower, as presented to this meeting, is hereby approved. The Designated Officers
<br />of the Authority are, and each of them acting alone is, hereby authorized and directed
<br />for and in the name of and on behalf of the Authority, to execute and deliver the
<br />Regulatory Agreement in said form, with such additions thereto or changes therein as
<br />are recommended or approved by such officers upon consultation with Bond Counsel
<br />to the Authority including such additions or changes as are necessary or advisable in
<br />accordance with Section 5 hereof, the approval of such changes to be conclusively
<br />evidenced by the execution and delivery by the Authority of the Regulatory Agreement.
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<br />Section 5.. All actions heretofore taken by the officers and agents of the
<br />Authority with respect to the establishment of the Program and the sale and issuance of
<br />the Bonds are hereby approved, confirmed and ratified, and the proper officers of the
<br />Authority, including the Designated Officers, are hereby authorized and directed, for
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