Laserfiche WebLink
<br />means of private or commercial financing is reasonably available to finance the Project at <br />such affordability and income levels. <br /> <br />3. Approves the OP A, and authorizes the Executive Director or his or her designee <br />to execute the OP A substantially in the form on file with the City Clerk. <br /> <br />4. Approves the provision of the Agency Loan pursuant to the terms and conditions <br />set forth in the OP A and the Agency Loan Agreement. <br /> <br />5. Approves the Agency Loan Agreement, the Agency Note, the Agency Deed of <br />Trust and the Regulatory Agreement, and authorizes the Executive Director or his or her <br />designee to execute and deliver each such document to which the Agency is a party <br />substantially in the form on file with the City Clerk. <br /> <br />6. Approves the subordination of the Regulatory Agreement and the Agency Deed <br />of Trust pursuant to the Senior Lender subordination agreements in the form presented to <br />the Agency Board, and authorizes the Executive Director or his or her designee to <br />execute and deliver such subordination agreements. <br /> <br />7. Authorizes the Chairperson and the Executive Director to execute and deliver <br />such other instruments and to take such other actions as necessary to carry out the intent <br />of this Resolution. <br /> <br />Introduced by Member Grant and passed and adopted this 151 day of May, 2006 by <br />the following called vote: <br /> <br />Members of the Agency: <br /> <br />AYES: Members Badger, Grant, Santos, Starosciak, Stephens; Chair Young (6) <br /> <br />NOES: None (0) <br /> <br />ABSENT: Member Nardine (1) <br /> <br />ATTEST: <br /> <br />Vvwu~ ~ <br /> <br />Marian Handa, Agency Secretary <br /> <br />818865-1 <br />RESOLUTION NO. 2006-001 RDA <br /> <br />3 <br />