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AHA-2025-001RESOLUTION NO. AHA— 2 0 2 5— 0 01 A RESOLUTION OF THE GOVERNING BOARD OF THE ANAHEIM HOUSING AUTHORITY AUTHORIZING THE EXECUTION AND DELIVERY OF ITS MULTIFAMILY HOUSING REVENUE NOTE IN ONE OR MORE SERIES IN A CUMULATIVE AND AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $13,105,723 FOR THE PURPOSE OF FINANCING THE ACQUISITION AND REHABILITATION OF THE TAMPICO MOTEL CONVERSION MULTIFAMILY RENTAL HOUSING PROJECT; APPROVING AND AUTHORIZING THE EXECUTION AND DELIVERY OF ANY AND ALL DOCUMENTS NECESSARY TO EXECUTE AND DELIVER THE NOTE, SUBSTANTIALLY IN THE FORM APPROVED HEREBY, COMPLETE THE TRANSACTION AND IMPLEMENT THIS RESOLUTION, AND RATIFYING AND APPROVING ANY ACTION HERETOFORE TAKEN IN CONNECTION WITH THE NOTE WHEREAS, pursuant to the Housing Authorities Law, Chapter 1 of Part 2 of Division 24 of the California Health and Safety Code ("Housing Authorities Law"), the Anaheim Housing Authority, a public body corporate and politic organized, existing and operating pursuant to the Housing Authorities Law, ("Authority") is empowered to issue revenue bonds or notes for the purpose of financing the acquisition, construction, rehabilitation, refinancing, development, and operation of multifamily rental housing; and WHEREAS, Center Housing Partners LP, a California limited partnership (the "Borrower"), intends to acquire, rehabilitate and equip a multifamily rental project into a 31-unit plus one manager's unit multifamily residential project on that certain real property located at 151 South Cenpla Way (formerly 120 S. State College Boulevard) in the City of Anaheim, California (together, "Project"); and WHEREAS, pursuant to the proposed form of Funding Loan Agreement (the "Funding Loan Agreement"), by and among the Authority, CN Financing, Inc., a wholly owned subsidiary of City National Bank, as funding lender (the "Funding Lender") and Wilmington Trust, National Association (the "Fiscal Agent"), the Borrower has requested the Authority execute and deliver a series of tax- exempt multifamily housing revenue note in an aggregate principal amount not to exceed $13,105,723 (the "Note") and to loan the proceeds of the Note to the Borrower pursuant to a proposed form of Borrower Loan Agreement, by and between the Authority and the Borrower (the "Borrower Loan Agreement") to finance the acquisition, rehabilitation and equipping through completion of the Project, and WHEREAS, Authority, by action of its Governing Board ("Governing Board"), desires to assist the Borrower and to increase the supply of affordable housing by making a portion of the units in the Project available for low and very low income persons or families, and in order to accomplish such purposes it is desirable for Authority to provide for the execution and delivery of the Note and financing of the Project; and WHEREAS, Government Code Section 8869.85 requires a local agency to file an application with the California Debt Limit Allocation Committee ("Committee") prior to the execution and delivery of tax-exempt multifamily housing revenue notes and the Authority has filed such an application; and WHEREAS, the Committee has allocated to the Project $13,105,723 of the State of California 2024 State ceiling for private activity bonds or notes under Section 146 of the Internal Revenue Code of 1986; NOW, THEREFORE, THE ANAHEIM HOUSING AUTHORITY DOES HEREBY RESOLVE AS FOLLOWS: 1. Authorization of Note. In accordance with the Act and pursuant to the Funding Loan Agreement and the Borrower Loan Agreement, Authority authorizes the execution and delivery of the Note designated as "Anaheim Housing Authority Multifamily Housing Revenue Note (Tampico Motel Conversion), Series 2025A" in an aggregate principal amount not to exceed $13,105,723, with an interest rate or rates, a maturity date and other terms as provided in Funding Loan Agreement; provided, however, that the maximum interest rate on the Note shall not exceed 12 percent per annum and the final maturity of the Note shall not exceed 40 years from the date of execution and delivery. The outstanding principal amount of the Note shall be in the amounts advanced by the Funding Lender from time to time to fund the Funding Loan, not to exceed the aggregate principal amount of $13,105,723. The Note shall be in the form set forth in and otherwise in accordance with the Funding Loan Agreement, and shall be executed on behalf of Authority by the manual or facsimile signature of the Chairperson of the Authority ("Chairperson") or the Executive Director of the Authority ("Executive Director," and, together with the Chairperson, the "Authorized Officers"), and shall be attested by the manual or facsimile signature of the Secretary of the Authority ("Secretary"). Notwithstanding the above, the Note may be issued in one or more series, including a taxable series (the "Taxable Series"), with the same parameters as set forth above; provided that the tax exempt series of Notes shall not exceed $13,105,723 in an aggregate principal amount. The Taxable Series shall be outstanding only during construction of the Project and the aggregate principal amount of the Taxable Series shall not exceed $3,000,000. 2. Approval of Transaction Documents. The proposed form of each of the Funding Loan Agreement, the Borrower Loan Agreement and the Regulatory Agreement and Declaration of Restrictive Covenants, by and between the Authority and the Borrower (the "Regulatory Agreement," and, together with the Funding Loan Agreement and the Borrower Loan Agreement, the "Transaction Documents") presented at this meeting is hereby approved, and any Authorized Officer is authorized to execute, and the Secretary is authorized to attest, the Transaction Documents in substantially said form, with such additions thereto and changes therein as such Authorized Officer may approve or recommend in accordance with Section 3 hereof. 3. Approval of Changes to Documents. Any Authorized Officer executing a document approved herein, in consultation with General Counsel and Special Counsel, is authorized to approve and make such modifications, changes or additions to the Transaction Documents or other documents as may be necessary or advisable, and the approval of any modification, change or addition to any of the aforementioned agreements shall be evidenced conclusively by the execution and delivery thereof by such Authorized Officer and approval as to form by General Counsel and Special Counsel. Further, any Authorized Officer, acting alone, is authorized to execute any assignment agreement related to any mortgage note, mortgage, deed of trust or other document related to Borrower Loan made to the OA Borrower from the proceeds of the Note. Additionally, without limiting the generality of the foregoing, the forms of the Transaction Documents hereby approved may be amended to provide for the Taxable Series. 4. Selection of Fiscal Agent. Wilmington Trust, National Association is hereby approved to serve as Fiscal Agent under the Funding Loan Agreement. 5. Actions Ratified and Authorized. All actions heretofore taken by the officers, employees and agents of Authority with respect to the execution and delivery of the Note are approved, confirmed and ratified, and the officers, employees and agents of Authority are authorized and directed, for and in the name and on behalf of Authority, to do any and all things and take any and all actions and execute and deliver any and all certificates, agreements and other documents, including, but not limited to, those documents described in the Transaction Documents and the other documents herein approved, which they, or any of them, may deem necessary or advisable in order to consummate the lawful execution and delivery of the Note and to effectuate the purposes thereof and of the documents herein approved in accordance with this resolution and resolutions heretofore adopted by the Governing Board. In the event that the Secretary is unavailable to sign any document related to the Note, any Deputy Secretary of the Authority may sign on behalf of the Secretary. 6. Further Consents, Approvals and Other Actions. All consents, approvals, notices, orders, requests and other actions permitted or required by any of the documents authorized by this Resolution or otherwise appropriate in the administration of the Note and the lending program financed thereby, including without limitation any of the foregoing that may be necessary or desirable in connection with any amendment of such documents, any transfer of the Project, any substitution of security for the Note, or any prepayment of the Note may be taken or given by the Chairperson or the Executive Director, and the Chairperson or the Executive Director are hereby authorized and directed to give any such consent, approval, notice, order or request and to take any such action which such officer may deem necessary or desirable to further the purposes of this Resolution. 7. Conflicting Resolutions Repealed. As to the Note, all prior resolutions or parts thereof, if any, in conflict herewith are, to the extent of such conflict, repealed. 8. Severabilirv. If any section, paragraph or provision of this Resolution shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph or provision shall not affect any remaining sections, paragraphs or provisions of this Resolution. 9. Effectiveness of Resolution and Date Thereof. This Resolution shall take effect upon its adoption. 10. Certification. The Secretary shall certify to the passage and adoption of this Resolution. THE FOREGOING RESOLUTION IS PASSED, APPROVED AND ADOPTED BY THE GOVERNING BOARD OF THE ANAHEIM HOUSING AUTHORITY THIS 22ND DAY OF APRIL, 2025, BY THE FOLLOWING ROLL CALL VOTE: AYES: Vice Chairperson Meeks and Authority Members Balius, Leon, Rubalcava, Kurtz and Maahs NOES: None ABSTAIN: None ABSENT: Chairperson Aitken AUT . ITY SECRETARY APPROVED AS TO FORM: OFFICE Of1THH CITY ATTORNEY 41 bioev-wi APPROVED AS TO FORM: STRADLING YOCCA CARLSON & RAUTH Bradley R. al, Esq. 4 C IRPERSON ICE SECRETARY'S CERTIFICATE STATE OF CALIFORNIA ) COUNTY OF ORANGE ) ss. CITY OF ANAHEIM ) I, THERESA BASS, Secretary of the Anaheim Housing Authority, do hereby certify that the foregoing is the original Resolution No. AHA-2025-001 adopted at a regular meeting provided by law, of the Anaheim Housing Authority held on the 22"dday of April,_2025, by the following vote of the members thereof: AYES: Vice Chairperson Meeks and Authority Members Balius, Leon, Rubalcava, Kurtz and Maahs NOES: None ABSTAIN: None ABSENT: Chairperson Aitken IN WITNESS WHEREOF, I have hereunto set my hand this 231 day of April. 2025. ARY OF THE ANAHEIM HOUSING AUTHORITY (SEAL)