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File Number: 15-563 <br />WHEREAS, pursuant to Section 34176 of the Dissolution Law, the City elected to <br />retain the housing assets and functions previously performed by the Former Agency, and <br />provided a housing asset transfer report to the State Department of Finance, as required <br />under Section 34176(a)(2); and <br />WHEREAS, in completing the housing asset transfer report, the Successor Agency <br />inadvertently left the Housing Loan off of the report; and <br />WHEREAS, the Housing Loan is evidenced by a promissory note (the “Note”), and is <br />secured by that certain deed of trust (the “Deed of Trust”) recorded as Document Number <br />2011092526 in the official records of Alameda County. The Housing Loan is further subject to <br />the requirements of that certain regulatory restriction agreement (the “Regulatory <br />Agreement”) recorded as Document Number 2011092526 in the official records of Alameda <br />County; and <br />WHEREAS, Assignee desires to assume all rights and obligations of Successor <br />Agency under the Housing Loan, the Note, the Deed of Trust and the Regulatory Agreement <br />(collectively hereinafter the “Agreements”) and Successor Agency desires to assign all rights <br />and obligations of Agency under the Agreements to Assignee, pursuant to the terms of an <br />Assignment Agreement presented to this board, substantially in the form attached as Exhibit <br />A. <br />NOW, THEREFORE, the City Council of the City of San Leandro does RESOLVE as <br />follows: <br />Section 1.Approve the Assignment Agreement, substantially in the form attached as <br />Exhibit A. <br />Section 2.Authorizes the Executive Director to the Successor Agency to execute the <br />Assignment Agreement and to take all actions and execute such other documents as may be <br />necessary to carry out the intent of this resolution. <br />Page 2 City of San Leandro Printed on 9/29/2015