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• <br /> ZRCf(o <br /> Exhibit A <br /> REINSTATED LOAN AGREEMENT BETWEEN <br /> THE CITY OF SAN LEANDRO AND THE SUCCESSOR AGENCY <br /> TO THE REDEVELOPMENT AGENCY <br /> OF THE CITY OF SAN LEANDRO <br /> FOR THE PLAZA PROJECT LOAN <br /> This Loan Agreement (this "Agreement") is entered into as of January 27, 2016 <br /> (the "Effective date"), by and between the City of San Leandro, a California charter <br /> city ("City") and the Successor Agency to the Redevelopment Agency of the City of <br /> San Leandro, a public agency (the "Successor Agency"). The City and the Successor <br /> Agency are hereinafter collective referred to as the "Parties." <br /> RECITALS <br /> WHEREAS, the City Council of the City established the Redevelopment Agency <br /> of the City of San Leandro (the "Agency") and approved the Redevelopment Plan for <br /> the Agency pursuant to California Health and Safety Code Sections 33000 et seq. <br /> ("Redevelopment Law"); and <br /> WHEREAS, the City and the Agency entered into that certain note dated <br /> December 5, 2002 (the "Loan Agreement") pursuant to which the City agreed to loan the <br /> Agency Two Million Eight Hundred Eighty-Seven Thousand Six Hundred Seventeen and <br /> 44/100 Dollars ($2,887,617.44) from the general fund (the "Loan"), as permitted under the <br /> Redevelopment Law, to fund redevelopment activities; and <br /> WHEREAS, pursuant to the Loan Agreement, the Loan accrued interest at a rate of <br /> six percent(6%); and <br /> WHEREAS, the Loan was subsequently confirmed under Redevelopment Agency <br /> Resolution 2004-011 RDA at which time the remaining balance was $2,596,400; and <br /> WHEREAS, the Redevelopment Agency prepared a repayment schedule with <br /> payments scheduled to be completed in Fiscal Year 2020-21; and <br /> WHEREAS, the current principal balance due under the Loan Agreement is <br /> $2,299,315 ("Outstanding Balance"); and <br /> WHEREAS, on June 29, 2011 the legislature of the State of California (the <br /> "State") adopted Assembly Bill x1 26 ("AB 26"), which amended provisions of the <br /> Redevelopment Law and provided for the dissolution of redevelopment agencies; and <br /> WHEREAS, pursuant to AB 26 (together with AB 1484 and SB 107, the <br /> "Dissolution Law") and the California Supreme Court decision in California <br /> Redevelopment Association, et al. v. Ana Matosantos, et al., which upheld AB 26, the <br /> Agency was dissolved on February 1, 2012; and <br />