AHA-1981-015RESOLUTION NO. AHA81 -15
A RESOLUTION OF THE ANAHEIM HOUSING
AUTHORITY AGREEING AND CONSENTING TO
SUBORDINATION AND ASSIGNMENT OF OFFICE
BUILDING LEASE.
WHEREAS, the Anaheim Housing Authority is authorized
to lease certain office premises from URO Investments, a
California partnership, pursuant to a certain Office Building
Lease between said URO Investments and this Authority, the
form of which is attached as Attachment No. 10 to the Dispos-
ition and Development Agreement between the Anaheim Redevelop-
ment Agency and said URO Investments dated November 24, 1981
relating to the acquisition by said URO Investments from said
Agency of an office building; and
WHEREAS, included in said Office Building Lease is a
right of this Authority to use certain automobile parking
facilities, and the office premises to be leased are located in
the office building to be acquired by URO Investments pursuant
to said Disposition and Development Agreement; and
WHEREAS, the said office building is to be rehabili-
tated by said URO Investments by means of financing provided
by said Agency pursuant to a Project Agreement, inclusive of a
Construction Deed of Trust and Assignment of Rents, authorized
by resolution of said Agency adopted the same date as this
resolution, rights and remedies under which are to be assigned
by said Agency to the purchaser of notes of said Agency issued
pursuant to a Bank Loan Agreement also authorized by said
resolution, the proceeds of which notes are to be used to
finance said rehabilitation; and
WHEREAS, said Project Agreement contemplates that the
interest of URO Investments in said Office Building Lease will
be assigned to said Agency as additional security for the
financing provided by said Agency under the Project Agreement,
for assignment by said Agency to the purchaser of said notes;
and
WHEREAS, said Office Building Lease contemplates that
the interest of URO Investments thereunder may be mortgaged and
assigned,
NOW, THEREFORE,BE 'IT RESOLVED by the Anaheim Housing
Authority that it agrees that its interest in the Office
Building Lease may be subordinated to the lien of said Construc-
tion Deed of Trust and Assignment of Rents as provided by the
Office Building Lease, upon the proviso therein expressed, and
Authority agrees to attorn as therein provided; further,
Authority consents to said assignment.
BE IT FURTHER RESOLVED that the Chairman is
authorized to execute and the Secretary to attest thereto and
affix the seal of the Authority, and to deliver any instruments
or documents evidencing the agreement and consent of the
Authority to any such subordination or assignment.
THE FOREGOING RESOLUTION is approved and adopted by
the Anaheim Housing Authority this 29th day of December, 1981.
ATTEST:
SECRETARY
ANAHEIM HOUSING AUTHORITY
WMAM:GAL:FAL:jh
-2-
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF ANAHEIM )
I, LINDA D. ROBERTS, Secretary of the Anaheim, Housing Authority, do
hereby certify that the foregoing Resolution No. AHA81 -15 was passed and
adopted at a regular meeting of the Anaheim Housing Authority held on
the 29th day of December, 1981, by the following vote of the members
thereof:
AYES: AUTHORITY MEMBERS: Overholt, Kaywood, Bay and Roth and Seymour
NOES: AUTHORITY MEMBERS: None
ABSENT: AUTHORITY MEMBERS: None
AND I FURTHER CERTIFY that the Chairman of the Anaheim Authority
signed said Resolution on the 29th day of December, 1981.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 29th day of
December, 1981.
SECRETARV OF THE AN EIM HOMING, AUTHORITY
(SEAL)