10A Action 2008 0602 Attach - Indenture of Trust

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irrevocable standby or direct-pay letter of credit, insurance policy, or surety bond is at least "AA" from S&P or "Aa" from Moody's and, in the case of an insurance company, the claims paying ability of such insurance company irrevocable standby or direct-pay letter of credit, insurance policy, or surety bond is "AAA" from S&P, or "Aaa" from Moody's or, if rated by A.M. Best & Company, is rated in the highest rating category by A.M. Best & Company; (b) such letter of credit or surety bond has a term of at least 12 months; (c) such letter of credit or surety bond has a stated amount at least equal to the portion of the Reserve Requirement with respect to which funds are proposed to be released; and (d) the Trustee is authorized pursuant to the terms of such letter of credit or surety bond to draw thereunder an amount equal to any deficiencies which may exist from time to time in the Interest Account or the Principal Account for the purpose of making payments required pursuant to Sections 4.03(a) or 4.03(b) of this Indenture. "Record Date" means, with respect to any Interest Payment Date, the close of business on the fifteenth (15th) calendar day of the month preceding such Interest Payment Date, whether or not such fifteenth (15th) calendar day is a Business Day. "Redemption Account" means the account by that name established and held by the Trustee pursuant to Section 4.03(d). "Redevelopment Fund" means the fund by that name established and held by the Agency pursuant to Section 3.04. "Redevelopment Plan" means the redevelopment plan for the Alameda County -City of San Leandro Redevelopment Project of the Agency in San Leandro, California, titled "Redevelopment Plan for the Alameda County -City of San Leandro Redevelopment Project" adopted and approved as the Redevelopment Plan for the Redevelopment Project by Ordinance No. 93-12, adopted by the Council of the City of San Leandro, California on July 8, 1993, as heretofore amended and together with all amendments thereto hereafter made in accordance with the Law. "Redevelopment Project" means the Alameda County - City of San Leandro Redevelopment Project as described in the Redevelopment Plan. "Registration Books" means the records maintained by the Trustee pursuant to Section 2.08 for the registration and transfer of ownership of the Bonds. "Report" means a document in writing signed by an Independent Redevelopment Consultant and including: (a) a statement that the person or firm making or giving such Report has read the pertinent provisions of this Indenture to which such Report relates; (b) a brief statement as to the nature and scope of the examination or investigation upon which the Report is based; and (c) a statement that, in the opinion of such person or firm, sufficient examination or investigation was made as is necessary to enable said consultant to express an informed opinion with respect to the subject matter referred to in the Report. 12