ARA1981-041RESOLUTION NO. ARA81 -41
A RESOLUTION OF THE ANAHEIM REDEVELOPMENT
AGENCY AGREEING AND CONSENTING TO SUBORDINA-
TION AND ASSIGNMENT OF OFFICE BUILDING LEASE.
WHEREAS, the Anaheim Redevelopment Agency is author-
ized to lease certain office premises from URO Investments, a
California partnership, pursuant to a certain Office Building
Lease between said URO Investments and the Agency, the form of
which is attached as Attachment No. 9 to the Disposition and
Development Agreement between the Agency and said URO Invest-
ments dated November 24, 1981, relating to the acquisition by
said URO Investments from the Agency of an office building; and
WHEREAS, included in said Office Building Lease is a
right of the Agency 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
Agency pursuant to a Project Agreement, inclusive of a
Construction Deed of Trust and Assignment of Rents, authorized
by resolution of the Agency adopted the same date as this
resolution, rights and remedies under which are to be assigned
by the Agency to the purchaser of notes of the 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 the Agency, as additional security for the
financing provided by Agency under the Project Agreement, for
assignment by 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
Redevelopment Agency that Agency agrees that its interest in the
Office Building Lease may be subordinated to the lien of said
Construction Deed of Trust and Assignment of Rents as provided
by the Office Building Lease, upon the proviso therein expressed,
and said Agency agrees to attorn as therein provided; further,
Agency 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 Agency, and to deliver any instruments or documents
evidencing the agreement and consent of the Agency to any such
subordination or assignment.
THE FOREGOING RESOLUTION is approved and adopted by
the Anaheim Redevelopment Agency this 29th j c/aY--,of December, 1981.
f ° C IRMAN
ANAHEIM REDEVELOPMENT AGENCY
ATTEST:
SECRETARV
ANAHEIM REDEVELOPMENT AGENCY
WMAM:GAL:FAL:jh
SM
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF ANAHEIM )
I, LINDA D. ROBERTS, Secretary of the Anaheim Redevelopment Agency, do
hereby certify that the foregoing Resolution No. ARA81 -41 was passed and
adopted at a regular meeting of the Anaheim Redevelopment Agency held on
the 29th day of December, 1981, by the following vote of the members thereof:
AYES: AGENCY MEMBERS: Overholt, Kaywood, Bay, Roth and Seymour
NOES: AGENCY MEMBERS: None
ABSENT: AGENCY MEMBERS: None
AND I FURTHER CERTIFY that the Chairman of the Anaheim Redevelopment
Agency 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.
SECRETARY OF THE ANAHEIM RED VELOPMENT AGENCY
(SEAL)