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,,. 29114-1 S JH:SMadw 12 / 27/ 02 01/16/03 01/24/03 01/27/03 CITY OF SAN LEANDRO RESOLUTION NO. 2003-019 (2962) A RESOLUTION OF THE CITY OF SAN LEANDRO APPROVING AMENDMENTS TO CERTAIN BOND DOCUMENTS AND AUTHORIZING AND DIRECTING THE EXECUTION AND DELIVERY OF DOCUMENTS AND ACTIONS TAKEN IN CONNECTION THEREWITH, ALL WITH RE5PECT TO CARLTON PLAZA OF SAN LEANDRO WHEREAS, the City of San Leandro (the "City") has heretofore issued its Variable Rate Demand Multifamily Housing Revenue Bonds (Carlton Plaza of San Leandro Project) Series 1997A in the original aggregate principal amount of $11,220,000 (the "Bonds") pursuant to a Trust Indenture (the "Indenture"), dated as of October 1, 1997, by and between the Issuer and First Trust of California, National Association, as succeeded by merger by U.S. Bank Trust National Association, as succeeded by U.S. Bank National Association, as trustee (the "Trustee"); WHEREAS, Carlton Plaza of San Leandro LLC, a California limited liability company (the "Borrower"), the owner of that certain multifamily housing residential facility commonly known as Carlton Plaza of San Leandro located in the City (the "Project") financed with the proceeds of the Bonds and with the proceeds of the City's Variable Rate Demand Multifamily Housing Revenue Taxable Bonds (Carlton Plaza of San Leandro Project) Series 1997A-T (the "Series 1997A Bonds")(none of which Series 1997A Bonds remain outstanding), desires to deliver a substitute Letter of Credit (as defined in the Indenture) to secure the payment of the principal of and interest on the Bonds; WHEREAS, the Indenture and the Loan Agreement executed in connection with the issuance of the Bonds (the "Loan Agreement") are required to be amended to include specific provisions with respect to and in connection with such substitute Letter of Credit; and WHEREAS, the Indenture and the Loan Agreement may be amended and/or restated pursuant to the provisions of the Indenture and the Loan Agreement, respectively, upon compliance with certain provisions thereof, which provisions shall be complied with prior to execution and delivery of such amendments; and WHEREAS, all conditions, things and acts required to exist, to have happened and to have been performed precedent to and in the amendment and/or restatement of the documents executed and delivered in connection with the issuance and delivery of the Bonds as contemplated by this resolution and the documents referred to herein exist, have happened and have been performed in due time, form and manner as required by the laws of the State of California, including the Act. NOW, THEREFORE, it is hereby ORDERED and DETERMINED, as follows: correct. The City Council hereby finds and declares that the above recitals are true and 2. The following documents (the "Amendment Documents") in the form presented to this meeting, are hereby approved: