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-1- <br />INDENTURE OF TRUST <br /> <br />THIS INDENTURE OF TRUST (this “Indenture”) is made and entered into and dated as <br />of _________ 1, 2018, by and between the SUCCESSOR AGENCY TO THE REDEVELOPMENT <br />AGENCY OF THE CITY OF SAN LEANDRO, a public entity duly created and existing under the <br />laws of the State of California (the “Successor Agency”), and U.S. BANK NATIONAL <br />ASSOCIATION, a national banking association organized and existing under the laws of the <br />United States of America, as trustee (the “Trustee”); <br /> <br />W I T N E S S E T H: <br /> <br />WHEREAS, the Redevelopment Agency of the City of San Leandro (the “Former Agency”) <br />was a public body, corporate and politic, duly established and authorized to transact business <br />and exercise powers under and pursuant to the provisions of the Community Redevelopment Law <br />of the State of California, constituting Part 1 of Division 24 of the Health and Safety Code of the <br />State (the “Law”); <br /> <br />WHEREAS, a Redevelopment Plan (as defined herein) for the Alameda County - City of <br />San Leandro Redevelopment Project Area (the “Project Area”) in the City of San Leandro, <br />California was adopted in compliance with all requirements of the Law; <br /> <br />WHEREAS, pursuant to Section 34172(a) of the California Health and Safety Code <br />(unless otherwise noted, Section references hereinafter being to such Code), the Redevelopment <br />Agency of the City of San Leandro (the “Former Agency”) has been dissolved and no longer exists <br />as a public body, corporate and politic, and pursuant to Section 34173, and the Successor Agency <br />has become the successor entity to the Former Agency (the “Successor Agency”); <br /> <br />WHEREAS, prior to the dissolution of the Former Agency, the Former Agency issued its <br />Alameda County - City of San Leandro Redevelopment Project Tax Allocation Bonds, Series 2008 <br />(the “2008 Bonds”), to provide moneys to finance redevelopment activities for the Project Area; <br /> <br />WHEREAS, Section 34177.5(a)(1) of the California Health and Safety Code authorizes <br />the Successor Agency to undertake proceedings for the refunding of outstanding bonds and other <br />obligations of the Former Agency, subject to the conditions precedent contained in said Section <br />34177.5; <br /> <br />WHEREAS, Section 34177.5(a)(1) also authorizes the Successor Agency to issue bonds <br />pursuant to Article 11 (commencing with Section 53580) of Chapter 3 of Part 1 of Division 2 of <br />Title 5 of the Government Code (the “Refunding Law”) for the purpose of achieving debt service <br />savings within the parameters set forth in said Section 34177.5; <br /> <br />WHEREAS, by implementation of California Assembly Bill X1 26, which amended <br />provisions of the Law, and the California Supreme Court’s decision in California Redevelopment <br />Association v. Matosantos, the Former Agency was dissolved on February 1, 2012 in accordance <br />with California Assembly Bill X1 26 approved by the Governor of the State on June 28, 2011 (as <br />amended, the “Dissolution Act”), and on February 1, 2012, the Successor Agency, in accordance <br />with and pursuant to the Dissolution Act, assumed the duties and obligations of the Former <br />Agency as provided in the Dissolution Act, including, without limitation, the obligations of the <br />Former Agency under the 2008 Bonds; <br />WHEREAS, the Successor Agency has determined that it will achieve debt service <br />savings within such parameters by the issuance pursuant to the Law and the Refunding Law of <br />427