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WHEREAS, the Project and related improvements will be partially financed with the <br /> proceeds of a Transit Oriented Development grant ( "TOD Grant ") and an Infill Infrastructure <br /> Grant ( "IIG Grant ") provided by the California Department of Housing and Community <br /> Development ( "HCD "); and <br /> WHEREAS, in connection with the TOD Grant and the 110 Grant, HCD will require the <br /> City, Developer and/or BRIDGE Housing Corporation, a California nonprofit public benefit <br /> corporation affiliated with Developer ( "BRIDGE ") to execute one or more Standard Agreements, <br /> Disbursement Agreements, and related documents (collectively, the "HCD Documents "). <br /> NOW, THEREFORE, the City Council of the City of San Leandro does RESOLVE as <br /> follows: <br /> 1. Acknowledges, ratifies, and accepts the assumption of the Agency's rights and <br /> obligations under the Original OPA, transferred from the Agency to the City by operation of law, <br /> effective as of February 1, 2012. <br /> 2. Approves the Restated OPA, and authorizes the City Manager to execute the <br /> Restated OPA substantially in the form provided to the City Council with such modifications as <br /> may be approved by the City Manager in consultation with the City Attorney. <br /> 3. Authorizes the City Manager to execute, deliver, and record, as applicable, the <br /> documents appended to the Restated OPA as exhibits, substantially in the forms provided to the <br /> City Council, with such modifications as may be approved by the City Manager in consultation <br /> with the City Attorney. <br /> 4. Directs the City Manager to negotiate a Memorandum of Understanding <br /> ( "Memorandum ") that will describe the respective rights and responsibilities of City, BRIDGE <br /> and Developer pursuant to the HCD Documents, and authorizes the City Manager to execute <br /> such Memorandum in form approved by the City Manager in consultation with the City <br /> Attorney. <br /> 5. Directs the City Manager to negotiate an Indemnity Agreement pursuant to which <br /> BRIDGE will indemnify the City against liability arising in connection with any default by <br /> BRIDGE or Developer in connection with the Memorandum or the HCD Documents, and <br /> authorizes the City Manager to execute such Indemnity Agreement in form approved by the City <br /> Manager in consultation with the City Attorney. <br /> 6. Authorizes the City Manager to execute and deliver such other documents and to <br /> take such other actions as necessary to carry out the intent of this Resolution. <br /> RESOLUTION NO. 2012-073 2 <br />