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Home My WebLink AboutRESO 6840I I I ·---·----' -----·--------------------·--· ..... ---··--_..._ __ ,.. ____ ..... _, -------.,. ____ ----. --- ... ...._. __ -........ -----·-,·--~-----......... ,~ ------------·--.... -----·---· __ .. ~------· ---~ __ ..... -_.,..,,...._ ____ -... 684!) A RESCltfnON ~ROV:t!U·ZG FO~ TH~ ISSu!..NC~ Of crrv OF PA.LO Af..'TO t!M2~RSITV A'fEN\JE AREA OFF·.a.STREJ.;!' P~RFr~~q ~!tS~S'SME.WY 0'$'J'~tC--r' 1fi89 REFUND~HG A~itJ ~k;PHOVf.ME~T St'J~t'JS (LOT J. REFUNDiNG ANO~ Ut4!VE~Srrv J..VENUE ACOl.J~SrrK»:} ·' --------.·----~-~--·----------~-------------·-·-·-----~--· ··------------ -..-....__.,, .... _______ , .... __ .... ..._ _____ ... _. __ ._ . ...-... ......... _ .. ~--~...,,,.-......... ---------_,.----------·--_____ ... ,,.. __ ,. I I I I I ' OEFidrTIC'~·lS; ,!.lJT~0P!Z.i\T:O~ .-'\NC: P•JRP8S[ CJ!= BONDS; E\JiJAl SE.CUR!!·..- Gt:CTl0~4 1 .M. SECT!ON 1.U2. SE~TIC:\! 1 .03. SECTION ~ .04. Daflnltli.)n~ ......... ., ...... ., •..... ,, ....................................................................... ~ Rule:> ot Cor.strtJctlon . ., ............................................................ _ ................ 8 Eq113! &lc;.nlty .......................................................................................... , 3 Flnciing." ilnc D-3turr:1!cuat?.r;~::. ................................................................... 9 APTiCU:: 11 ~;;v 1 ,,,_,.~-. ~.v •.. ...-v~ 1uii:> ,..,._...,._, ...... , .. .-.'\OI'~ ........... _ ....... ~-· .............. · , ............................ '••••1 .............. ~······· ........ •••· ... · SF.C1lON 2.02. tssua:".:OO ct St~s ................................................................................... 10 SECrlON 2.~3. t~rm. Ml!lb~r!:~ ·:.-: 80;-,.1:;. ........................ ., ................. _. ....... ., ............... rn SE(;'T~ON 2.04. 'n~er&s~ on 6on~s ....................................................................................... ~O Sf:CTIQN 2.05. fi.ooe!llp!iC>!~ of B<lr1~ ...... , .................................. ., ................................... ~ ~ SiCTiCN 2.00. ;;u-:'jt: t.'.Jr 6'-'nd-3 ......................... .,._ ...................................... ,. ................ ,. .... 1~- SCC.Ti("".tf'~ 2. G7. E:titcu~ion c-f Soo{f! ........................... """ ................................................ ,.. ) :..1 S£-.."';1IDN 2.1118. Tnsri:i!ar ~f &;r!d8 ............ " ............. ., .•. " ................................................ 14 St:C"f!ON 2.CJ9. Exctllin~ -of f.!o;;dS ....................... ,. ................... ,. ............................. "' ...... 14 St=CffiN ~.1;;. T~::i-o•a;-y 3';nd~ ·--~"'· ......... -.............................. -...................................... 14 ~IC<t.i 2:~·:. Soti·J ~iq~a1r3ti.:>n ~i;-;r.A~ ..... _ .............................. -................................. ., •... 14 Sf;C-1~1,),".J 2. n .. BO!"l~ M~tll;S-.l\~G. L03i, De&11°0jo"Gd O! 3to!afl ·~·····""' •. ,., ....................... -~~ SECTiOS ~A01. ~rl'\..or~.-.. n '\ ,.,,.. ~~"''4'' ~l;,#f-.; t[';.'"" ... ..,c;. .. SEC!WM 2.A..03. ~;.:.,_.1 !"'"JN= :.: ........ :.;q. secrio~~ 2 ...... rs5. Bt;GTiON 2 h3}£. Sa!!1 o! 8':.:n~ .... ., ..... ~ ............ ··-··· ...................................................................................... 15 .-v.c:-i .. 1 C!•-.~ ... ~.u 1S ~llfil''J'""t"Pl ·-...:.-1.Ql';;;;i.ll'I;;.;: •.:. ... ··~• , ...... , ...... e1o1-.. "•••·• ... +••111• .. ••••••t'<•1'••-;o••••.-•••••---.·-···-· · ·4 -------=----=-= ~~row rtf:tµt~:Jt1 :inti 7r~i Agroonlant ........................ uuu•••H-~•••nu ........ •H .. ·j 7 ··~r1:r~; ;::."-~! ...... ,r:i.:;r: ........ ~ ......... ,, ...... ~ ......... ·~ ............. ~ ............. , ..... -· .L ....... _ ...... ,, ............... _ ......... • • !>flil"J2i)' (Jf OOfids .... ······ ....................................... ,. ................................. , 1 ~; Tran3t:i'1~ ................ _ ..................... " ......... ,.., ..................... . ii I I I I /! I I I Jl.RPCl.E !ii $i:CT!ON :S.D'i. Apf;lil.:..a\icn o~ Proceeds -;,~ S:ll-~ <'>1 80ridS ........................................ ,. ... 16 SECTION 3.C?.. MOHKi runcr ............................................. ., .......................................... 13 3f::C°f!ON 3.03. c~crow i1Jnd ........................... ,. .................. ,. .................... "··-......... ,. ..... 19 SECTiON 3.~. Co3t of :ssuance r:unduh ...... uu•>1 ........................... , ...... _ ....... h ........ .,, .... ~~·~~ ......... 19 DEBT SERV?(.;E FUND AND ANNUAL BENEFIT ASSE~SMENTS Sl:C'liON 4.01. Dett Servk;e Fund ......... ,. ... -.......................... , ... , ...................................... 20 SECr·o~~ 4.02. R6demption Accour.t ................................................................................ 20 ~EC-f!ON 4.03. -A6.mlnls'..rafu111 and Disbi.•rsemen~ rrom ~puon Acc-cc."'rt ....................................................................... ., .................. " 20 SECTION 4.04i. fnvestm.ent Of Funas ............................................ -...................................... 21 SECTION 4.oa. .v.d-1ancas from Avoi!rtbk.. Surpll!S Funds ................................................. 22 S;:'.CTI~N IE-.07. Covenant to-fc:rec.'lcss .............................................................................. 22 ARTICLE V COVENANTS Of THE ClTY; SPECIAL l AX COVENANTS $£-Cftt...'1tJ 5.0 i. f'!tnciual Payment; ~>~~nee wmi Dov~ ................................... 23 ~11(.)N 5 .02. Mo Fri<irU:·; #(ff Ad-diticr~I ObUgatk;ns ....................................................... 23 secric~ So(l:S. ~ A.ii);'Ua~ ··~·C••····•• .. •·•· .................................. ,. ........ ,. .......................... -............. 4 ................. 23 SEC?"10~ 5.o.\. 8Mt4ite of E~'l ifWOStn°llJnt E&rnli":~ t>:> U~!ed Statti .................... , .. 23 SECTiafi 5.05. !nfcrmstier. F'.t')~M ..................... "' ........ ,. .. _,. .............................................. 24 S~t'~JN S.00. Prlvat~ 5v34~ Uoo Umtur.tfcn .......... , ___ , •... ., ............................... ,. ....... 24 SECTI~ 5.0'!. :'lni;a1'J Loan ~Jmitation ........................ ,_,_ ................................................. ~4 S~TION ~.i.,8. F~al Guart;'n~M P:>'t'hi~ltlor.: , ............ " .................................................. , .. 2' SECnON S.~. '~:rte!! ~~ &emptt?r1 From Bank NoodOOuctlbiiliy RAS'tr~ci!"Gn ········~-....................... ~··· ....... , ........................ , ............... ~ .... ~· ..................... , ... 2~ .S:EC.-T!~N 5-~f"j_ ~~1rtt-~ A~wren--~ .................... , .•• ~ ........ ~ ............................... ~ ........... & ............................ , ..... ~ Hf(;TK.'l--! 11.0i-. e=und& 3n-:i Axoun~s: ................................ .,,. .................. ,, ....................... i6 S1?.:::roi'1 f;.O~. Paf1lrs: 111vaHo!iy ........ H ............................ -.......... _. ,., ........... ., ........... ., ......... :2£ ~£G1~~ e.0.1. Dek~ ... ~~r:~ ......... _ .................................. ,. ......... _ ......... -...... -----................. is St:C._,.::f>N 0.G4. Rep&<::I ~1' ''°'~,,S~3ten~ Raaoh!tluNS ........................................ .,,_ ............ 26 Si:G'fiON 8.05. Hioc.frl(s L.•atf> IJi ·ine R6.solutton ........................................... -........ ., ...... ::!5 -!t- I I I I I e e ,., ~*-~UTION ~Vm·:f.te fvR THE ISSUANC~ OF cnv 0, P-.M.O AL TO ~.J~i.-&;:~"V A'ifl!illtJE AAt.V. O~f ~,311t£ET Pl.Rr~:~a A.$SESSMENi Oj~TRICT ~ 9iii ~>;:f-UNOU«J ~h~ ~MFRO'VEMt;tJT BONDS (i,.~'f J c;F..fU~O:~~ ANfJ ~ U~iilVE~'TY AVEf-'UE ACQ!.JfSITlONj ~lF.S(;t\.JEO, ~'Y ~h~ Co•Jridl (!h~ TCoun::!(} of 1he Cit;.· of Palo Al-to (1h!? ·c1cy .. }, S~n13 G(Rr~ Corn.ty. C:tHtcrr.i~. thet WHeRf.AS, th~ Couni;;! hat. prov:ded in pmceedings ci:;rKi1icte<:! undttt a:id ptJr-.,j\l":;irt tr: its Resoh ... 1!'..'n No, t,;257. A ~!:Jtio:1 of PrP-:lminary Dete,mirn3tl:":"n a;ic ~! !nt~nticn, 1dopi:.ad M:ay 21, ioo4. as m~.ocl. t11at ~ones wooid oo !ssued pun:>-:~ar:t to <htl provi-sions of Sretitm 13.16.160 o~ t'"?ti.;pter i:;us ot nt1e 13 ufth~ P~!o Aito M~mrci~'f!l C~-de (i301id P;Qr; G), secured by &nnua~ ~~rt us~;sl'!Wl:Ci) wrdc~; <ire at.it!"lt.i~jz.!Sd to be '6vi~ or; q~,e taxs.~e real prop.my within thG Urk.·sr&ity AwM~:.•~ Lot J riar:...1019 G1:1rag6 Assessment District. v:pportJonEK1 0,mc.'Y.j !he ~s er..:! psrco:,~ the'."~!n in ~c-i:x.~l:";m;lx. ~t; ti1<:1 1r.Amuia tria·-eio get "'0t"ih. ~oo the Ccwu,;iJ 1ta5 ileretoiore protiderj ior too ~Hoo --4 ... -~ ... _.._ •r -1~.l"b·~ ------"---'-....:-..-.. --..-... ~ -• ....__....._...._ -t ......... : . ..J.., ~~ l"':::-1"~ .. ~..,,""'"'fl'.,,... Ml'llV ~Mo V'1I ~·1·•"-,..,.•-~-'1'.' ,...~.......,,~·~ ~· .. ~r ........... ~··,~· ......... ..,,.. -~-s•-.... 'I" ............ , _. ... ..,..__.~----- now 0tAsttmdt!'lg, tc ~!.ind ma {;:~~ of ott.-st:~1 i:o.a!i<Jng acq~Jis(t"!ons arid ~mprovift'Y .;ltjrti; Hs~ein ducf.~: W"riE~AS, ~n:1 C~.1;yr;cii l:<".1$ Et.~ prov~ed. in pr~in~ ~ondt•r:tad ~ ~nd purw..ar.t to l!:s ~~ttf-.:;n ~i~. :~78B, A fiea.ofut1::m o" Pre:tmi:\~.!Y Oet~:nabon nod ot lmemi..''.}t'i, ~ao.~sa Aµ;U 10. H .. i89, a:'l illOG~icc.t tt\at t~rn1& w;s1 ~ !sa':.led ~urscam tn AAid Bond Pi@!n G, secured b'-! Zinl '!Jal L">5nef\t assessi-nen~,; !:,;i•.iied tn accord.tuic~ wit:·, tna ~rr1i?t f~:.i~ as Pl°i)\~ ~n ~Ki 1:.-~utk.m No" ~57, ~(' n:\" ::! :ne ~~ of t.t~JirinQ a~ltior~t o{~~·~~ p5~klr;g im!:'ro..,·ar~rft$ w?f.hin the ;.:'5(" U1w1orsify i.l.\"f~ue P~rkkt~ PHJJet"i P.~e1-~nl: Oislr!~; snd ·~;;;~{J.~:;J-,.5~ ~6 (~uncii thera~Ot"~ prcpOS~ to f'l~.;tJ'}{Atte the ~flC<(:! O! Hi~~tt: (~} a m-gt~; it--.."'>t=~ of ot:'lr.d~ fvr Mc.'1 i;."lf t~!c ;::;8'f;'.oses or \2; r;. ~le carnb{n~ct k-~~ <::·~ t~::><·ds tat tw-J~h e said ~u,~. I I -_.:...·--·.:'"".: -. -··~ -_,._. ·- .. --- oummorJS; AIIrnC~••nOf¢ ~NO ~J~9CBE !JF ~ONCG; t!OOA.i;. SlECU~iiTY -~TICU 1.01. CMi~EtiMS-u~leas tha ront~xt Otfl&l~iS& requires, t:"ie !arms def:(~ Ir. th<.'; ~ion ~w.ii, f ui aH p1.1r~ ct (i"is Resoh~t.ion and of any SqJp~sntsi Reso:u~i:::"'i :i11d of ths Bor:c.~ ~nc o~ any certmca~c. ~·pfriiof1. ~-~~t or ott10" doc.:!mier<it !i~~u :Tianc!e~. n.;::;vo t~ rr·eantr:gs ~n ~if~.i. "Anoua~ Baoefit ~tt~-r.t ~ means tha ~rmua! t-a~;efE aseo~·tW':r,~ bv~j c;~mst ~iii t~..xal:>ie tMI prOf.X-irlY ·wt-.h!fi too -~rn:lariss of th~· D;;:;t~ct pu~arn '1:~ Ht+! i3cm1 Lllw v-t! ;!.;.."? a.~ ~Jbject to SC<iSeSi!m~ P'Jf&-!Snt to H!e R€S,/k1tion r,.-:1 lm-c;nti.'}t!, TO<' rh~ p;rpoge oi l>ayfr;g ~r!nc~ipal c~ E;nd'm ;nt~~ on t!le Bonus. 'Adf;o~ed •I!\'EC"'t,··r"~ents" ma;3ns a~ ~;.·;;;;ti~ (olh>?~ tr;~~ t~;C$3 '.d&."ltif::-1.~d i~, parag~·s.phs-<~?-~nd (ci) 6r:-;.:K.-tiu.-1 5360: of .-!!~ Ge_ ... 'ff~:i'if:~ -:.:,.19 o: ~rn:; State} !11 v;;h:~t'i the Cif'1 rna,i f~)~1liy !nv~t fl,i"ki!: ~o!e<;t ti) Its coi't 1.;:;L r-ursi.JLt:'it 1:~1 A.~icie 1. rontm~r;cing with Sec!:t-in ·:.3-f.¥£1. c:~· Oa::ipt-e-r-4 or Piirt i vt ''>vi134r-_,,, k of T!-::it 5 c,f ~he Goverrw1\·mt J"'"\.. -"--_ .... ~ "',,-;.,,,._,._. --............. ~ -~---!-.. ...... ---~ ..... -,,.,.__ ... __ .,.( __ ...,..1 '""'.._...~."" "'-" .. <;;•"~~··-Ju· .. -•• -... .... ...., .... ~ .,,,........_~ ... h•"' c.,....,. ~-~., .... _,._. "A<:J~*n Sti~t:~ Ftmds"' ,~;4,:-:m; aw ~r:A:...~ J"!'\(1(~ he!d b;,.' ~nt> Grrv a~ 1~~ ~d 01 eaoo T:iC:.~(vuaf"!n elf.ca-:..s ~f' lft~ "'mcu~~ r~ut1ed to ;;a~· i~Wi-a! munh.;i~~1 ~t.'°"5 h\..~Jrred =~!hat ;:tsci:; 'f~r. "f.~Y.~ uw· fr.oo.r.s -3':1~ti·:>~ ~~.16.160 rcmr.d Pft~n G/ a1.c ~a 13.1S:rro rsr.d i3. i6. Hif:"'4--~@~~-1·$. 16 cf Tii~:-;, ~3 :'.\i tt:a C<x.~c and Artk'.fe Q (~~1n-a w!tt< Section e$...~ a110. Artf.~ 'i'i 1~111:;·iW::•r:g ~ ~:on 5-~ c1 Ct..,ipk'.f :S 01 P~1t 1 of l)?v~n 2 t~f nt~ f. o~ ~ C~l/vs rime'. i1 C~ of the Statt;, gi! ~ m ~ffm.i ·~f>!", ~t~ ar>"~i.r~ta ~irsg ~~- i:Eood~~.~~10.f!!" mc~r.-: d"!o e.g'~!~~ ap-pt!c..11t~ to tt·.e portion ot Thi! fJ.o'1ds ~,y &i~ ~t .,.,~~'f'n thii r t)' ~n~ !M vng;N''!l Purer~'"! "Nflerot.y t!>c-t Ct'ty 8i:r&:S ~'-' ~j ~rtt'! tr~ Of~n~i P. •. m.~~&set a~r~ to buy al! er a t.~wtr?d ~c--!liz-n of !~.e ~:~ "~~j f~t-:_!,.~Nt~>t+ ~'~~" '1"A2~ tt.~ I)(:(\~~ r::.1i_,1··-~-~~ ti~: t?i~ P-~\,mp ~t""~ r.n,~,rfo s..;:.;l~:;-;-! · ;:· _ ·;110;. tiie-:e~~!~11c~1 &r,,1 ~rs3t~~sN -:/ '.}'•tMemni~~ ~~ tha &mt~. ..., . ~-· ~ ~r.f!!x:::S'' er ·f~rn:2S ~aj..!t~~e~ mt-..t;(.f. !?iifo~r (; ;r,s G!ti ui ~\l~0 ,~.:~~ u..,:,,_i'1lsft1 Av~:..ee A!r.rJ Otf.,b't7€-'M ?;-;--rl<l~g k.;S4!-l3n~~ ~»:;-ui~ H;f~1 fiet1,.;,•(~ir-g '"~c !m:;...""'t:~arn~ 8ct'fl3 {w. J p.:(!T,Jm:iin9 e..nd ~00 Unlv-:_~rty i}:-1Gf!1.::u ~c..:.f.l~h:-.n). t.~ ti.,~ G;t7 ()t r-J.iC ""'° Univ@of3.Tf Awwua ~ C~-s1.-·:9~ Pafkmq At;~":·if:),1-;t ;)fi::i..-;.-::.~ i~)J0 ?~f,.1;";ci!1?~ 6~ (Le,, J ?.e.•urdtr~} {:J\e "R~func';~'0 Bo'id!f"; .. or :;;; t~~-t~1 t11 ?~~~ '"'-.b~ •_::~:1,·,;,~:y A~~ Am3 Oi'i~t.~r_:!im r·~rn~ .-'\.~~-~r-; i)r~~ri{;-t: ~ r..;~ ~n;,1-rh·~te!~ ~!~ ':':"50 Un~v~y A!i~:.W Aoqut~tlon). {fie 't·1:p.rev~-rr.h1t &m~ ..... :. ~-.:ced Si"id &l? l;ift}.1 time ::~L·-t~ta~~d:~. "~n.@..~$f~i~~ ti::n:y~", @nd ~~r1 i;im~at ttttrn. rnaGM any ?era.L'f1 wr.~, ~..6!~ bf> th~ ~giste!'?.'-...i ~~~ d ~r~y o..~~i:r.~I~ Sood, -2- I I I ·s011d Y•~er" lii&.m~ !11~ t·h'·:?:'=~ -r:~[,,-,~:~ 1~r~c b..:~:;v.lr-::::i ~';1 ih·.! ~1r~:v;;:~?'~v cf -rt.~ Cl~)S~i':Q -6~~.? ;r,· .~:e_<.~ >'"~:· 1Jr.~ ~nd1n9 \Ji' thB :JE:y !2·r!01 r~:> ,::~ <?·~~!; ._:~:~c~~" c~~~ o? tt•~ r!t~h~g 0~i:r:c i!"l t~ fQi!:"v:in..; ~'ic;;;:· ~>·r:-~:r~t lf!;:.l ;'.) frs ~~!~t P.~;r~~~ '~'<Js~ B-h~:i begin c;n the ;';bsn~ ~;~1~fi. r::~..;; iii} th., ii!~ 6c'1"0d "':'P.ar !"!'~fl)' e-.:-i.:~ ::i:r; ~ ~"::··~ ;~;!:''.·;-·,~.-1p';;-;<1 o.:at1. ·'r..._ .... ,,~ ... ~-:. ~ ~-: ~i.<.~ i"', ... .,, .. -.:;.t,.~-_,..,...~)' -• ,_,.. i··w .• ~,..,,.,r·-~· •.; ~,,..,. ,-i.\.r '1)r""~-~· ~~~~ t}_~,.l...~!,,""~· .. -~_(._ ... !.1,,,"'-_,..".,..J'_ ~1. ' ~....:"E!'.':.~:::_'·-~~-~.:,.·_f __ ~·,;£),..'"~ r !l=:~-~~.!...::.!.!:.-.. ~.l!.;-... " _.__':!~~.!, ~!~te _C':!tf~'" ~~·~(? ··· ~~::.h!i:~i!:f~Ji ... , ~-li ~~;~~?. .. ~_t;:~'· rt-~~ .. n, ~'!'~t,M;tT\:P.iy, ~ ~-1,: ,tcr, c.~-\~1tc::.1f3. statem~ni, f~a~t~ Ordt"'S C'.' r~u;Hifi1_~r.1 ~~:}n·;:;~ i·~~· ~~r-: :~:~'!j~ "1sr~.~~:~~·J· ?.~~ D·~e,~;i~,1 r)1 ~ir.~~c~ ~'r r~~t?J1~ ~_:_.:~!y !\~~~::~g2!'. ~)~-~):/ L~:·:· 1::;-~"'~e: ,~~?~cAt c:~ t;i~ .. ~ ~--:;~~:'" t~uiy ~i.;~hod~~~ .,;, ?!)e C:;u:icH fer th.c.'t t"~tr;<.:~.r..::. "1...;nv'" J'1'C:'ant ~~~z i_;1r., oi Pa;u ri'Kr. a ~tf.:i~~~~ di.., ~~~u 1: •u•i;c!pa~ '.;o.-pu1~i'iv,-, argm1i:.~~·8u~ a;,:;~t;r-._~ unj!j, •1~ ch:ar\er \)D..1 ~!'!;.) C.11··~*f~1.;ti::"!'l sn~ !!:lws of ti'tt3 Stat~, Ci~ dftY si.;r;e.e:::;;&.')i" ~;:~~('\~:.. "City f:~~~·k." rrrer..i~ic ttw C!ti!y 0.!e.<;!~i. Que:fiflffl1 ~nd !.l.:;!i··•g City Ci.ask ot lh~ Gil)• u~ Paeo P.sto. -- ''Ci~nA ~iQ.-~nii tiw d1:1~e L~P""1'1 ....,,r~h~n tricra 6 mi ~::~.r...,.f.tn9~ 01 t.•1Y ~1 ti°";r ~ ... r~n ~''" ti"""' , •. ,.~......,,,......,.. ,.,,..,..,,..~..,._-,s:.th"'I i"O">A ,.,,.,,~~.,_.,. n~<"~ ,.,f ~.L..., ... ~~.~.r•r/1;< ~ ... tho r)on!r;<:..~ "C~c r:if !~.!.....,.~'-m~ari$ oJ! ~».~ 1f:(.i.•rr~..: !n ~t~ctl'Jr~ wltl'\ th,;;, cu1h<~.2.~~~... 1'3S<.~9n~"9. w•-"'.' sm:t oeilv~ N ~ &:ooo~. !1i~~-·d~!1£? nut r.o~. limited t•J '.:omper~~. f~ ~!''..C ~~ <Jf !~~.n c-:;~:.· 1111d t'ia Pa·ti'1·;; .~~t and tne!r re9(JK--tfv~ ~. ~~thx~ to ~ 1in&r.cial r .. mvi';.altan~s ~ma ui~a&wnt.:.:rs. iega! feei ~n~ a~~ ii? .. "ig and •~19 (X)$$, rating $lyrertC-f 1e-:'2-;",CS!~ of ?f'~l!~iv~ ! snd r~~~1 o~ doc~•r..1~ts, ~~ of comp;!&~!~ wttn Tf\...'(_ ~~~11tlons r&tatw~ ~c retst;.i b ~h~ Ut~iS.-d St~~~ ~nder SGcEon 5.~ Rr~ COS!& (#~ p~,.=~~ . .. f-&it S~_yi~.£&.:(!.>~"' means tr-.e fun:j 0-f tt".bi: r.ru~ $!rJ~b~1fid and held by t~e f.•!r~.~or -:;f F!na:v.~ ~urw~nt !() S~~ 1.(t'l .h~. ··Ql.-e;;t~r ~;f nruin~"' m~r:t. ~~ c~~· sw~.a-d. ~t;.."';°!l!f.~ !:!~~id <3(°tlriQ Dt!'{•.:tc: :1t i~;~'!tn,...,"9-c:rtne A;;8i'ti;r-:t"6ir~;.'1.o:-ot Finfln~ ~f -&~Qt)=. ·''Distr!~'!." -:'ti.rt~ii~ t~iG.t pcrtlo!"l ~f the C;ty c;~~ ~1 b\:;tll Resolt..'tlt)l' No. r.25'1 snd Roooiutit.n f.if;. S/::18 Qnd denom;~~-: rn~ "Unl~~ry Av~;;;_.,,, Lu' J ;:>rlrklng Gam';:~ Asses&mt.1n~ O;sirk-!"" tit Res:~k:~inn No. ts<,5'1, ·and "2150 Ur-.r.ti:~~Y .A.·-t~i"lve P~r'id!1g Pm~ect ~'ri~~t O:e;tdd, :r. '."'~~~:.::lut!ot, No. S7&1 and h\M~n jon:J!Y~!iiet-e;.·; ~r-c "Ur.i..,~H"sity A'<IM\k~ ~-m;.;. C·U-$t!~t PB:fk:~-;,) A$ll•.:ssrr1~nt District:. i: "'f~f.' •• H"~~1·~~.~CE:m~~-1nooro th~t 00;1:1;!, 1-'~if!'.~~ff!f;~t ~e.t~\1 a~ of ~he c;os!riQ Date by anc betwe,,.c:.n ~n<e Cir; .;~g.J ill& Ei:C.~1w Hold~r, wt:o3retiy t~-<) Escro!f:f F1Jr.!.1 !s <.t.Stab!~ha'l and ~jrr,.;n~!~ffid. ~ ~: · [i:-ef•.Y,~ _,_::_~ ~~~~.. i':":Ef":ti?~ S:.s;;i<em Tri.i~-t (\Jr•it.:H~~Y o~ Ca!i1o;!'\;~ N~~.!cr~ai ~so,;:~·-~1~-r::.~-1 S:(J;r.;;; ~·t-:. r-.:~~~;·,.w ~:ik!&· :J~~-jer !":,e t=~·•·.;rO'i\7 O(jpv--r:~ or,:: ·r~~~-k~';""::-6{;~,u~\. ti} ~":c: a~~r~qa~c ~;riotm~ ~l'.'-~:'"!~\.i tiom !t:<-: ~i()~!~<J Da-:.~; ~:,~-; .1H N•01npi.;r:YJr~ j)till·J.s..ti·J•:s ,,., w~:1ch C-:0:-c..~s P! r..."~f)t;d~ ~rf> in·.-~Jtea ~ci.!'iar triafl am!l~nta 1:1•_tnb1.rtat,;~ to Gf• ~xca.~ d~l'i~.>e<J i'l tr,;. ..... CfF'i·;r~;::.!i (a}), over (!!} th-e ~rncur1t whk=lot woiJ;d ~:sve been sarr~ fT ~he Yleh.1 c11 such ~~·-::-nr:u~oose Ob!1gr.\:1or.$ (crtt.~ '"~r. tiff;o~:-:-~...;., nud~·utan;e ;o ~J1 ex~ descri~., ii'' t~is paragr :.:pr; \a}) rrnli ~ e<~l..;=1i t0· t;--:·~ 'i ;e~:; :::ii !he Son-:\s. pin;; "f.~:~~r.:~? __ $__~~i~L&'i' m~r.£; 8:i)' ct 1t1i.? 1~ro'lll·ing w~1;Ch el: the time of in1t~.;;'(rr~;~t a.rie l~al i!wooarn-sr~~ ender u·~ law~ f!f i'1e St.:;; f! ;e:!' me •rtGn~y~ ~•1:t:>0;~i tr) ,t;g lr.>1~e.r:t 2he~r'1; {a~ oim~ jlenera• oblegatiol'!S oi rtte U~ltoo f>~at.1?'5 o! Americf.i C:-1-C!t:;dlr~ otlig~ti!'..l:rs ~i-ed o~ held 1~: t~oo-.. en-t..-y f ... -,.m o~! U-..e ~ki ot th~ D~~.rt:n~~ of tt-M Tr~;~..;:')· ')f tt,::i U~~&:":i S1atf18 of Ama."ica·;; ();,-;d \c\ obii~·i~ <'Ji ~n.f '--i.J9M:moot .. ~&~"' ~ inst;-urr,~ta;~:1 ".\! H10?. Un~~t S~~1~ o~' Ame-Mc.a tt'.r~ ~-1ri.et)· p3;t~'f'~lt ~t p:-;i·'ci99-l ut ftf"!~ inr-&<"?:S~ 0!1 v;;!;f:ih ':lr.::i: um:x,."'J{i;~UJ.t-ta.;i:; ~rn1 fl*r-9'.;•~t!lili*.:i b,· t~ 0,-~.t.c.d 5~~~ ci: f..r.~e-i~.s ~&!!l°!~~Lli?J~~Lu;~· .. me.~r::S llh,·: v~~L §st~:!..;.k~'lf:al, ~l:.f--B~· i: ~:!'".!. r:.: e~y ~!·,~3r ntrtt~apet or ;r;~·r:;~? or;-:~~~;j ~~~ ~n~·~ f~r~;t~i8-h t~~·•-c·~i!if)e 7~-hrcr. r;.~~bil~-~ f~n:-rt~~sJ iie~s a-::-rl ~~ ci:~12~~ ki Ban Fr1,wcr..;t;o, Ci?tl•btr-J~. a:.":ci S.i fJ .. ,~~: '!of~, n~·~., Y~;~,. an;J sa!~&~f b}• :i,iJ ?~lying Ai)f<f;t ·,;1t'ie.~ fie<.;.:.:,i;::;r, t~~s:; ~!i n;v:.: ;:.!",..j ;:;~·_;,r;\;~1..·f'!·,'~ .Q'~:-... ~~~ ·1'c~~_..i ~,.~~ .. :;-_.; ~t:i: ~~t..;c,j r.-'.i~!".:·n ... ;~·~:~.:; .... ~~ t~nn~md~ ~r'\ U~a :"1el('i. WX£·t~if,g J:JnB 0::;. {.3} t;;;;;;;k:!:! ~r-:~Ct)?.C:S. naff·'-~:y, t.ru>r ~,~~~:;. re-1T;";.ir\:"'~ from ths t..Si,~ o7 tfi& S~.::--~ r:n~.:-r.e;1'!"!e:-rt t•f ~~ Cov~s .:it ~i-z:~;~r1~. ini:;i!.i~iny se<..'r..<t-J :~t-srf.~:~ ~ e;::(-:!ud1:~;? unda,.-:•~-;~ 't t!i'ld cnnirra1 ~s!\!!E) 'Ji~.;nt, ar"'1 a.1>~~!'~i1 ~!.' SN/ Gi.t~il " _..... • . • • . ... A.-. (--'.,,.;. • ! • • •• ~;-:>::::~<e~,~~ w •• i.:;:l U'1.".-:c;;.'1"i{~ ~rar.-s!:1f,-oo i'' ~c&..~;,; ,:;_l>..;;-~effi1!r1eo ,r.: &.G~:O•'l)!J..,t;a ~:tn .;~~p·\;;f:t:i::i -;·s ... t-~ ~l'.l~ul?!t-:;ns) i::f :.;t~ig;at~.)t~' !~t.:od to ~f~.nd rhf! S'Jnt.13 i;1 wr:r/?. m l!; pa;i; I I iii "' ~ I I I I \b} ::-:-,•~t:->"'~n~ c~0c~cs. r.amely, amount$ r~lCeiv#){] l'll. st:y timE; fr~m ;n~ i1ves!·-:-,;::~ c~ ~!Ti =:Q~'E:"".!'.~C:: ~~"":·~ri(\ed ir: tt\9 Diecedln~ ciRu~s (aj, or from Uio in-1estff Jnt of flTnO!,JntS Qi.!S!")nb·.X! lr. th!S C:~.a: 1,::;;s {h), m !'lO:!purpQt)& O~~gatiOOS, incr~asoo by thf=l amount Cf ~r.y profits and dscrea~ce ~_;; :·;ec8Silal~, i:>el<: ,·;· zero) oy ~r::-amv:.Hit of .~;-;~· !~~ v:1 ::;u:::f. ;.-1...:.:>:.-t:iiciiits. exie:!;.;dir:g such amour.ts wh~h becomt:! :.:f-'"IG~~~··~j i'..'• •.:..-ce&"....0.:> {d9tt>frrdned 1·~ 3cccrd8.11ce wit!l applicable TQ)C ?e9i.;!c.tkJfl$} Qf Cti!!gst!·'.)nS l'JS~.&1 t:) f~tund i.he 8onds ir whole or in part; ~c} ~:ansfc-rred prcic,~s. name!'('. o.;gi1:;I ;.;rcceeds ot the P!'ior Bonds, a!"ld int~rsst e.am;!~gs and prof!tS less iosses r~11ltin~ i ~om investr""ent of such original prtJct';i'ds in Nonpu:r;;)~ Obligations, whk~i1 are-deemed to become procee~ ~f ~he 8on'Js ra-h.Jbl:f e~ 0!'!~!;-,3~ p;~t-ef tn.e t:.onas (and intarest ~mmgs a~d p:-nf!ti! f~t.m.ing fro:n lnvastr:iei!i ()f ;:;u~r. origindi proc~ in Non?crp:r~ Obilgstior:s} disch&~ge the ou3i.,,oftning p! iticipa~ ar.d int~rest of too P~r conds: (ct/ '>ln'<ing fund pr0<.~&~. :12m~1y. af°iK1~.mt~. ot~er •i1cm ~m0u:'t~ c:~~;~1 in th~ pr$.~ing cJau~ {3) end (b~. whic:~1 c:r~· ;~!d :r. tha D~bt Sar\:•\~~ F.Jfl") ~rid ~;1;: oth~ Fc~n ·:.i .Aet;r1u~ wt'i!et-, is r-:.~~JMibt'/ expectsd tc b~ u!je-'J to p.:y (;;ant ?.iarv k:.~ ~~~ ttla Bonda: ~.'d.J ~n•C"~.iH~ .. ~ Frv._,;;:~ir ... ..-iL~~\:f~··~ a0t "Jr:J\. .. -.~,,~, ;vi }.;'~!",,;C'·:~-,,·~~ .J; ~~~ .. ~-.,,.;~~ ;;~ t~~ R-tH"td& oy &.a Ctty: (~ ,'i!::n!Y~~t rt:'JOOived -.~:!!'.~; ms: . .1t:.°'Ct -::c h1e•1s m~,~~ ;~!),,, a:-~OC~.;S :!c~.cr:c% !n !he f~~~~ da1~ ~~!. fi1"'lt'rtC!~ !es3~ &~'i~:~j 1fitO ~or ~.lflS."ty 3cqi.:~f~ wtth sooil pt·c~ and mhN ~Ul\J&ri~n~ at~1~:e..i tn Cll.!r+J Oi.i~ ~Mi ~1vernm"dm.~i ~jrv~ of itdt t~-.00: (g) ~11y 2mo-i.«1ts, ~ than :arnw~ ~~bet..~ 9feewt1&l~ ir. this. ®f'f;\ti(>n, ~ ~o pay· deb~ t!li"Vt("'" Oli) the Boi'!ds; ~oo 6l} amoorit~ :·e-~oo as ii resurt o~ ttw in'lootmer.,t m amount~ aescrlbad ir. the precadlng ~8~ ~a~ !hrpugh (g}. 'Tcrqy~Hrm §!!"fr~" r~ri$ Hnanciw i11f~rrn~t;vr.. 1ric. ~ jfDai!y Cailer:i Bond S~v~::t .. , ~D r .. i0nt~oi1t01-r Su%!. !Otn rtOOt. JerJSY City, N'liW .Y'-h-=:::-0.1-;y 0~~..2. ,..U!..~tion: C~it•Y; \:;,J!<:'H1~ lr~Tt'<H'n~~~ori !~!(>..M-' ~cg~eo :8-1'~~ :'.'rf.ri vr.:s." es b?O~.(hf(Gy, i6tt. Root, Ne··~ Yo~. Ne!J,; Vo;~ ·wri::;s: ~ . .l~;;J~y't;; h1<t~~~ ~:i~s "Murb!p.a: ~r:d Govw-:m,~tt . ., OS Chl.lrC;tl SH:i:i:~t. '3th f'k;-Of, New ''r':)t-:.-;. il-ley Yot~ ~G.'007, Att~tkJ;ri. ~ .. 1(~n~~f,.:3, Nfl~ ~rt3; Yor~;. NeN"l Yt)~ '\~-4; <'.if'lC\\ i~ 2:...11~•-U~ri~ wiH·· tM.~ C:Jrr-Of!1 g<.:id~fa;es ~~ ·1"1~ ~:'lmi~!;i ~na F..>t-;:'.!ls.r-g~ C:omm~a~. $UC~. oi:l"!::!r 6~Gr~ snat~x t:.t!t~fl :.:.Hi(..Y ss:•vias provii.11!1\l !r1fon11a\k'n ffit~ !$$~;t to Cc(l;t'!d i.'lnr1d~ ad Vt~ Cit';' ;nsy dss~~r:is'ia i11 o Ae'~~ast e;f the C~t/ dt~h:a~ ~<)too ?aying Ag~m. ·!~!!"nffl,'t ?toEQ;"!Y" rt1oans f!.ny ~my (6S ssid !en'!'! ie · d$~m&J ~' :ssctior ~00{\J}(;;,:)\A.; v; (_6} o~ t~~~ T~l~. C('da), ob1i~t5or•, a~J~l.i!ty or h1vestmd~~: -1y~-e ~~'t) • .a;.:;·~1_1;1!~.g. r.oWEINP,J:'. t)bclig.;ttb:-:tll the hrturnst or. w!1!ch is axorr)pt ~rem ~:icoma tmr U'1{l~ sectiVn 103 o! '~;:a Ta.A G~e. -5- I I • I I I I I I I ":s-~ 03!£~ m~a;.~ t"~' d~t~ cf t: ;t: :3i:-nd'3 ~s s~t ~ort1~ ir. tt•e ap;::;!it:.iibla Sond ?ui'~h::!se .t,~}·c.ei--;•E'!"!t "f"s~ ~:·r?.£e.:ed;."', •Nh.:in u .. ..;t.:~5 -r1i1h ''?.i~~gn.::":J? t-n ~h~ !'J.o:'ld~, :-'"'~81~~-: thti l~~~e 'amcum of the Boilds-, p!'Jt" cit;Cn.!ed inh~ms~ 7.tnd ~~o/.niuni. !: any. i%s :.~.-ii)ln:;i ~;J€ u!soo;.mt, ;: anv. "~Qr:!Q.l!IQOS~ Q.t;;~~~i<.:·~" mea.~ ~riv \rw~msnt. Prope~y wn!ch iS acuuirea w11!' the GiCf:S Prr:G~9 011d is n~t ~v;qu:rect 1ri ~;::'i2~ re cgny a~Jt tt°'f.-.;;over:imenta! purpooe ot thE: 3onds. "C:r;niEr;! Pii!~l-~~~:r" f!'-e~n~ :'~.to;;.-, ,"., ~/~rnnqi·;;:~rr:t which •~ hN5ty S00!_<~(·~~::1 as unci~A";iiei f N the-Born::l'5. ~ou:stio.ntjl_\_:9_'·, k'.·pJi\ m~oo all Bori~ ~9~l1~.; Rfr.wautiott t:xcs;1'.'. - ~~£:°:'! 1.;~, ~1 ~J~~ ~-:;!:~·;.:;\Jf3r ~jn1~ '~:!!h · r.ec~n:sct lss~.::::,_i -::!1j >.foii .,.eriH.1 CJ;• 1ef~d-1n."'~ ~~·~ CJ~y (a} ftor,d£ ~r~i:uiot~ Wf!(;t?:h~; by H~ ~i!i)"ki!J ;..,,~;;:•1'. -::~ ~i~ :=:-d"'-~·t:.;j \(: Hii: 1'ot.Art..•• d . ...,_..1 f,-o#· .--~~!.k,;<Ju~· . i~J) &.Ji!ds PEUC ~: di:=~m~ t~ r1av& t-~ C~id with~n t~:i:; 1: lf'/)!'W'i;:f Of Sectk>O €.03: <:!nd {cj Ro~. iri iiw..i e;i tir •n $0J~"t#.u•~r-t~; fo~ w!'i1ch cthf.Y. Bo~:.~ ~t1J?H ~UiY~ t.>eoo ~~~tit~d. ~~ G;":'7! ~~; ... ·:c;GC ~~ .. -~~·;.:;. ::;~'.!~ ~:...::~~:~ tc !~~;. f>..:!:~~~·(-i~ ~~ ·~~~ "Own~ Of "~ Q:11~:", who~ \!sect 'ftlH°l ,~,,?e\:;t to any 8C!'d, s.eJ.m t~e ~on tr. whfl'Je l'i~m& t~ ownership of u~Jch &?nd s11;:;1; ~ r~!af~ tm the ecr.d 8egiStratlon Bocks. "Pe·;:~ ?.t:~"' ~~~':::O ~~""~,..,~~ 1 ?"h.~ ("..t_'.;~-.:.in-; t:•f C~lifor:-Ja! i~.stloAflf ;.~-i.lor.. &µpoklt$c1 "bV ~he C~ty le at::i .<SIS ~ :yJr.~ cg{ .. --it ~~rt: ..;l"li;:~-er .;.:~:--~ it; ~ssigris th. ;my vtt"--.ei· ~ration ::1r 981J<.\Cilsfr:m w~:di n~y at an:;; tkn-s bs Sij~~ittit~ in ~r. p!sc-tl, .iPrit\clc~! Office" rr~{l~ tt'!& msiri :;r ?t:ncip;,: ct1!~ ;~f t~.;~ P·.;~~~n-; f..ij~t :r. San Fmr.cia...;o:-5eTif0rniRt;;n-.;:;;~i~ its .:;~rpm:?i:a tmst b•a.:n~. ~Pi'kJr B(~~,,js~;· ::--~~.a~~ ;;re ~,,;;;:,;t;:_:~·;-r;;~~r;-:r~~~ i~t~nd.p~: Avt:-nl~!: Lc.1t J -Pa:-klo~ (~ara~tt fo,s$1-mr-~e11t D~trfot Bonas o~ m.4standir:.~ w:it~t ~~~.;. o.-iC'..: 8ortd A&~t)i:..i~i0ri. -----···-· ...,... ti\.-..'•-"" ..... : ...... g~;. ~'-"~ii. VP ._...........,.,,.,,..._.. .-..~7- "Prl\l~3 ~ Use11 m•ns ~ dlr~t!y or lriai~~iy In a ti·~d8 or b;.$r~ ::-.:.Tri~ °" hv a nifure.l ~n or !11 any i:.ict1vlty carried on by e. parsoo \Jtr.~r t~ar: ~ I I I natur~: per~or;, ~"-~bdin~ tJ~e by a gov~rnrr•~:"l!ai t.1!"i;-1. a11d use ty Et'ly person 2s ~ mn:-ntr&i· n! t~r.-q~;~t;:;! pi.~:ic. ~P:ro~'"'Ct" means ~hf! C0!1Stt~ctic·n of ti1u '~prr_111err.ents generally •'%cribdct e:; ti:e i?CQUl$i?icn of th~ :1i'p0r ra:\ir,g le-..,~l ai e tw:o-bv.::1 :mdcrgrcu11d oart<ing stru~1;re 10 ~ locat&rl .:u 250 Univeffi!ty Av~:iue ~(! Pslc-.~ho. C~H~·.:tmia. 'nem~uring apprnximotely 25_&.n ~uera foet !n si7e, f::t;;cor.1n;off~?i!,.~ ~ppmxi111Htt:iy G.? v~t;i-;;es togeth~r w!tf'i !ng:-~~ ~r:d egrasa mn:p$ aw:! fad!it:~. b1..n-1~ ~-trip!;, !~:')i!~t.ln~. ligN!ng .. sigm;, rlre ,-.. ;Xi;1!de~. pG$S..."inge-r e:~v~tOi'"$, stairs. ·1Bnti~at!or' ~)'St-9rr:!"., lobtJy &r.d sH1!r tmctcsi.•r~ ;:i,nct a1; "'10rY. auxi!:ary tr.-~eto :<tnd ncc~-.sary or .;;.:Jff·,;i:i~1.innt ~.Jr comp!eting them .i;s public '!eh:c!s par~i:ing faci!ttic~ :11 ilccordant:et Vli"!h Vi~ s!and:~;fi~ of :he City. "!-•:::'tl~t Ftmd" me:tf$ t!1~ funci by tha! oarn~ ~t~blished sr.d h~d by tlie Director of i=!r,sn-;;~·-pt.~rsuer;1 ·to Sec1ion 3.02 h~r~i. · 11PurchRse Pr;cs·s. tor tile C'..'•P\'ISf.l; o~ ~>mpu~aticn of tria Yin:d of it.~ B<lrid~, ~ss th~! sam€-meanh-~9 .,,j tti~ t'.-um ~~e prlce" In secrof~s ~~?7;;(.l";} .~me.: ~274 of the Tax C.ode, am:t in gew~rai. m'3arui' tr.~ ini~ia: <:¥eri,~g p;ic~:-t:; m·:r p1..'Dhc lrlot iilcludi"1g bond h~ases end h~·'.}1,z~-r. or sirnH~: p~~Ofl~ ·:'-r i:·:··!·~·:•rJ..,.~t;:-0 =~$ m:tiDg i11 t!K~ <:f!fli=4C~ity Df i..:ndt~rwri'{;;r;:, 0:· w~".i-i:·~j"SEIJ&:'\>) gt wh:ch p;lc,e a s:Jb:;~3nl.i~i i•;nf'!~::t uf the ?O!!de ~FF-'.: $.Ckl CH, 1i u1~ t:-m~ !j:e 9w.;1pf:..~i ~·'.;t.>t.~. ti1'? pr:~ ptsk~ b/ ~r;~ c-dgin..,.i ~;w-:!1&~ ~f the 8cn~·1 'J( ~h~ ll~JiMion cost 1)f ~rn;t. 01igin.ai ~-'•1rchaS'Etr '!h6 ~£:El";"i .. Purcr;a~ Price: ~or tna pu!"po~ c-1 ~A"npmi:t~~ oi ~he "fie~o oi Nt!11p1r~~ho€i Ot:>i~~a~~'~s. 1nm:J.mt ihf• i'~i.· msrket vaiue ('Ii ,ne ~<!~purpose Ob:ipat!cns 1.io the ~s.i.~ of ~ c! Grqss Pr~ f""lr acq1J~!~n theroof, r:r ~ 1£i19r, tJn th-e dale th~t !nvastirerit Pr~ierty cc~~it•J!i~g t5 r.tMpurpo-<~ (.)l)lsg.titioi! W;0rrn:es a Non~ur.,-;e Ohi•~atlOr• ~f th~ Bonds. -"'.E_~~~f\dc me~l'50 too i&ui,d iYf that r.a•r:e ~~i.ibihmsd, M~:i 9.ri:.~ adminiSt~r.fr:: by ~ Dlr~.,:toi-(jf ;::in~nc.g pu!'Stiant to Soc-tk>J1 5.04. ;>'~~j C1'0ts" ii'V'~r.a. with f~~ t!: tt1~ ~r-~. the frrtegm?'l (1S~h; c~l~:-,d~r ~r.y cf th::! m~rm :mmrimt;fy" pr~~r-.g S!i fm~ret P'~ymv,..,~ Dat(:. "At\Q.~~nntie'~ Prk'.12;~ ffi(!:~.rr.s, with reip.act to ar;/ 3cmd, th:-:.: pr~nc1pai s.mo:.im thereo~: p17'1S ~~ 8~pilr..:a"bici prt:rrii•.1n1. 1f 1.'!ft).', p~µtb:~ ;;~K'r i·fJKi~ff:pH~n i'!"lm~r pw'$ua:it to thi; R~!...1i~. ;,T~~utkm'" or "th:S B~-iiJ!fl9£( m$.sr.:S 'ti1is i8~r•lv~k-·r~, ~~ t\rl~i~~I~# :•ti-:~t·~1iKJ ._;.r· a;:> It may :mm time to Un~fi be SIJ~~~e<f, mootfted Ct nmeri~ br sny St..tiJµ!~rrisa~~~ P~ioo pm-suer.t (O ths prov1sfons t•erni'.'1. ~R~0~~.!+!c:~ Nn. ~57" me:~ns Rf3S(..~l.i~f.::n N0. 82~7, Eim<loo A R~c',,.~1-'~·1'i (:~ Pteiim!r:~.:; Db-ii'r.minetlon ~nd <Jf !m<9ntlr.m ~o ~fa:·~~ Acct:;is!ticns ~Md lrr1pm·11~c;~·r.ts. adopted by tna C--ct!ncil on t-Jigy ;("!. !004, as 1'\'1CX.~ifxi ~)r i:mie,;~J€d ar;-J m ~1feci on 'i~le ClorJlng Dste. -{-! .. "R~!u!!cr; Ne·. 6}$.'3' means Resv'i.lC!on NJ. t37&8. ef1:iU~d A Rt!.sc:,}~ioo i:>i f'.'f&llminary D&it::·:r;inet:c:;1 and of int~lition to Mai-:~ ,~;:;qJ:srt~or1s snc lmp!OviF'.'"':~nt6. e\k)ptetl by th<: C-::11J:::;i; :Jn AJ...r;! ~!J. 1~. S!i now er h~n~~vter rno!":ified er ernt~n,J...:..;o. "R.es~1ut;qy_2f..]JHJ3r:~iQF' tlleans, cciit~e;fas~ly, R~i;,iut!on l'!o. 82S' zr:1j r{t3Sc:c·:;o;; ~Jo. 6768. ''Sinki!!S_fund l~~~s.!Ument" mean~. with ie.<J~ject !o any ;..>articular date, the a!:!ou11t of money nq11ir£td by or pum;;an1: to this RP.So!utinn to be paid by the Cit:w on a.Lie~ d<Ji.e towerd the retirement o~ the Tern' Bonds prior to tt~eir si.~too maturtty. "State• msana the State ot C~lifomia. "§!mQ!ement~I Resol;..it!on" maa11s any r'eGOjtJi.h.m ~']reerr1::11t. rgsolution r.r clhar instrument hereofter dv!y Edopt~J er exacirted by tr.~ City' i;1 sccordanc~ v1iti1 thE: prm1'8!011s cf this Resoiutfon. '"Tax Coo..s.• mea11S ttle tnter~af He-vo:'lu9 C.ods of 19B~, c;s afiiended. Any re~erance t~ ~ prcvts!on cf t~~-e r~ Cede eh~H ~~ciude !ht! app·!!ceb~e Tc1: ~~Qt!~!·t!~~ ·'IVah i\:ropect to such prnvi&or.. 'Jsrx. ~!J!a.ttom{ m9ans tampo1·c;ir~ ~r<:.l pe!·rn~M~rit rag~~~Hoo~ prcmwvr.:ed u~ t~a 1ax coae. "I~rm Bcnc:te .. meane the So1":f1'. wrti--1 roo,.~ r(t which S~tJ:~ F~nrl instdmMta are payable, 2!! set ft'Jrti~ ~ tiw .~ Pvrcr.o:~s~ A~~..t'iom~11t "Y12!Q• me~ tMt ~~which, wiir?.n ':JS..~ :ri r..omptitlng lh!: pt~l'i Wilttt; \:•t ... H payments of (Wi~i tlt"'ld 1rneresr {0( ei~l1£tr ~~~ in tf·,e c.1&~ c1 N.;>nf~ Qb!iQltiOfi& wn1ch ~utt &Ji!!:"<l~t~ •n ~ i'~rrr: not ct-.::;uacteriz€-d l!l!!-µnnc~si ~r.~ !rn.~•«l-'n oo a Nonpi1~ Ob·i~~k' .. ~ l:·~ ~ii'1 th€: Bondo orcdu·~ &fl a;·,101.mt <Kt~ te ~~ Prn<:h~ ?n.ce ~! 9'.JC'h Nooou~ tJb~:J.tlon or ~;i~ 801100, es the ca~ mQ'."y ~. :~~ <.h'•n1i:;v'lsd ~ Pi~ Int~£ ar4)!1ca~ T;J;.: ~utstlon"!l. SECT!Ot~ i.02. R1£~~ ftf CM~t-~~lkm. Al! references !·;-1 tn~ Rwo~uitoo le "Arl!ckte.'" "'SecUons," a;-t-j t)t1'19f :a\.~bdlvis.!o;i-~ ere to tr.a co~e::."'°t'ldir.g A.~, Sect:a~ .,;r s:~!:ldi\ri$ions o: i~~t P.esn!ut~on: ?rid the wnr.n ·~he!'elii," "h~eoi," "!iereunde-r." an . .:f ct~r w1~ ·~f sknl!.i:r ~'pt.'rt :!iri5i ~o this ~IJ...1ion as & 11thoi9 and oo! if) a;-:.; psrL.AJ,ar Articls, Secitori t;r i!.lJb<.tiv~oo hftr$Cf. · Words o1 t~e: m?-.;!CUlIDa gender s.~H hs deemed and cxn~.ied to :nciud€ OOf"~8tlve worda ot iha f~!Wf\e eild neu~ ;r !J&ndsru. Un!~;::, trl~ 0or.tmrt ,~;; ~~~!"~~·t1Y;;0 ;r1dicet~. W\l(d$ imptv.ti{~q tht? singular number N:a!i inl~{Jdi: ~he piura: •°11Jmbf.'~ ii.r:d \iice v~,_3, and )'<'Ofrh ;mpt'j~i:'°ig persomt stall in.:..~uoo co:-µc-ration~~ a»-ct tJ®O(:i~ti~~, irn:-J>.ict!r~g puDlf.C boct~. ~ W·'1i; 33 natur~I perooris. ieC'f!ON i.03. Sqw;d ~~my. in consic;eraucn or ~~1~ dc-.cept~'i>X:' of th.:: 8.:-mti-i· by t~ Qw;iera th@ftJO?, thL:-; ~rolut~m sha;~ be d%flis.d "·J 0-C: atid W.:iU cor.sth•.:t~ n Cl?nt~l!lC.i bStW0$:'> thS> C!t'/ 'n~i tf;S l.);..·.:n~i(S f rOI :1 ~1:11G ~'-' ti ma ~tf tt·ril aor-t1;.A;.~ 'i:';._:: H':e o;iyena~ aoo at:;~«T'!wrra n~~ set tt'>e·tt; t;;> tie p~rtc,rrnt.~ CJrt b8trai1 ~t 1iw C.!ty r:\~(;P. oo for the eqttaf and pr~paftl::mate beft&fK, ~~-1.1my (ail~ p:-o?iscticm ti~ ~1v. o~~ Qf the Ii I Bo~ds vit~lO""t ~;·;:-i12renc~. priority o; d!stloct:on as ~o ~f!(,l!rH\~ or n~fi57~i:';2 of ~ny ot th& 60:-;·:1~ ·~.n;:r :;r,y ':i~ t!",f. ::·~~~t5 by fe:.i~On. Of tt'!~ .~f_i~~1bcr er C.i~iB ~ht.:r•?-(·f o;· i;;:;o ;:;·,"':t .:_i( ~10, ex~G1..!U::>!~ ~·• deii"'e;y th~r~,)~. •X c·i"hH..v!r.e foi any >.;dll3"'~ \'¥':-i~t.!!:nevt?r. o~car.: a~~ S.:\.prer"..sfy r mvideci trl'2!ie:o:· (l:' ht'.'itesfri. SSCTIO!M 1.~. FCm:il!ng::. and OM~rm~na:~,,;;~~. Th~ Co..ir{:!! he:-eby ~!nds an(J 0~11:trm!r.et, pursuant tr· Settiof·~ 12.1'3. <78 ~F,d ~~-;. l[i. ~eo ct ~he C0dtt, (s) t11at the tt)ta! a~gr~J~te ~mrn,,11t -::f th·'3 pric!~lpll! ~f arid ;r.ta:.:rf:st er. \he Ref~1Q!n9 Corn~!Snt of 'tl".e EkJna~ !s i~ tn~ri ~he tut~I agwc;at~ ari,ount of thl:' p:im:ioa! oi f!:id mter~t o~: £!·~ ?:lor E.~·n~; {b: · t!"!at E-.3ch s.rmu~I instoHm~~t o? prlocipaf of and ;r,1e-r~t on tr.~ Rsfl.:nding Cornpoi1~'1i: ")f !~e 9!)f'ld$ ~ I~ ~t!an the c.~~~:Jii.diltij _,.!~stallms~t on the ?iior 9onds: 21"d (c} Ul6i the 1errn of ~tie Re!-.md!ng C.."'1-TI~n+.mt 01 the €civ.:is ~ e~uai to or lesF. than thet r~~aining ~!'1nr: c1 t;-.e Pric-i 8ar·d~. The Cci.mci1 h~r~by ~u~~IST" fmds z;.nd determ~n~ thst in th~ opln~ c.:.~ tr!a cr,i.md!. t.y rsasui~ cf chsn~(.'S in interest r&te;:., t~ c:1w;-a"Jmy 1!nd ';~!'l~-r.g! 'N9ifa:e o1 the own~~ cf r,.~rty wrtNr. t!•£ D!~tri~ i;i1m bG ~·~by, sn•.1 th~ ~rJdent rnan~gement o! tha ft?c2i affairs vt ~~;;-Ctty caau~rv.~t ~ro-r~$din;s -~;J; at·.,~;;r.~ ;-~!-J:1~-;~i .. ~g of the ~r~c:-e~~c -9- tSSUANCE OF ac~os SECY~O~ 2.C";'. ~ndt A~t~~1z8d. Aft acts. condtUoos &rld things 1·e<.. .Jired b;' law fQ e:r.:.s-!, h.ep;'.>~11 end ~.}$.! Pi'ri::urned precedent to ll!nrl in the issuance of the Bonds hS"ve rocisted. 1::1c1=·~i'll!\1 11:~d t:~G1·1 parlorm~ In due time, form snd mar.mw z.s ~equiri;r.J by ~w. ~n'-1 the Cou:icH i.: now a!.!til<.,ri:r.~ ~tnwarrt to each and evt=try requir-?mont 1..'f i13w to issu1; tne Bonds ;;i me mar;nm-a=r.j f1Jm1 as in it;'8 R9.'?olu~ion piOVid.~d. SECTltm' :'tO:?. b~weoce ~: ~e-~~. P.o~1B ")f tha C'ltv s!111!I ~ i~~ied "ithc.r ('!} lr.S a sinqi~. comb!ned ~& ir:. tha a.;-,\;;TBS~!e pr~nclpal amour.t ~t ~c.t t~ exceed $7,C()(),ncQ io b+; ~ni:lwn a~ ll'City of Pa~o f-.. ~!> U~tv&."3.~ Av~1ua .Art:ta OH--Straet. Parking .~:;n1ent Distrtct 1~ P.afundirig ,arid impt"OYef1il3f:t 801H1s {l.;.}1 J Re~u;v",l~ng a':d 2&..~ Ur.iv,~y P.CQi:i~ior1)". for :t:e pwp<.;%~ oi ~i} refunding aH vi ths outstariding rr;o; B\,)n{~, •md' {!i) fioan~ing 1:~p ~n:st of construct~ cf the Pm~~t li.rir; peyfr1g ;;ii Cc-.str:> c;t !GSYa,,~,,.,, ar;d :n·.:;id{~nta~ :,?_1;p~i;ses :tt c;onnect!on thcrewi4:h. {2i sr:t £ s\r:y~e issue m ~:t~ ~ggreg~\~ princ:ip~I ,_rum.mt c-f n·1! to ex~ $5,40(),001 tc t,.;; ~1ffi\'TI -a.2 ='Cl!'J o~ Paio .'\ito Unlv~y Av~n1.ra Aa·.ga ()f?··Str~ Parking ,4~sssm1.m~ Dw.rict !b:.-ij t-1efundi11~ Bonds (l..<J~ J R?.h.cn!l•ngi {ihe "B&1iunding Bond$"), for Hm p;.:i"Pf~~· r)f r~nding ail r;.1 th~ CU\~-tar.cfosg P6ot Bonds, ~1id ;nyjn~ al' Cost"" ot 1~srio:,:;: and ui:.:::oenta! expenses !n CL•rn~a~i«' trt"'A'~. r;.· {31 ae a ~.Jn9~ emua 'n t!'•e ar;;:~~~gate orincio~i e~nouut of not to t'¥ceed Si.6tt>JOO tc ~ kno";' 9$ "Oil' of P&io Aitc-Univ~~Y Avenue A1··:a Off-Street ParkinS2 Ass-~11,";mt District 1~ improveniB",t B::)i!dz {250 Urtivernity Avenue AcquBttkln} (th~ .. !~rmr.v~m\!!lt S-r.no(}Sir). kt:· tt:i; r.nu;:::-OS~ uf 1insncing 1.he D.'~ of t'»:"lStruc:tkm oi the Ptc!~ rmd ~yi>'I~ *:r f.:.;,;;~ r.i.~ ;~i~~a 2.ml ~;t.'.'..\I t::r.;tHtUIG i.:1 t:tv.inectt00 therew;~t:l. ~~ 2...C;.~. ~~, t.tarufttt~ ~g ~~m. n~ Booag ~" ~ ~1.1e<J in fi..i!!y r·~g~~~ f?mi wtt.t~rt ooupoff3 !t, clrncm~!lati'.':OO ~~ $5,0C.'1) or e!iy mtegrn! rr1ulti~ t.:nereof, ~ ~ :ce r>o Bond $ha.~ t'i2ve m-Ot7a ttte11 one m~t1.•11ty da1 e. ih"l 8t.~ri~ ~J.ltl oo ~tee eild lr'tat•;;-~ an Septemt."t'lr ~ in aectt c~f ~:ae \1:'~ra ar •. j h th~ amour.is set fo,..•th ir. th'3 ~pp~~ ~ Pwch3~ ,.a,grrr~m~Jnt. ~CllON 2.04. ~~r&iri •m Ec.~ffl. ·~n~ P,(\fiOO ah&:! bf:·.iJ.~ intf:rast .a! th!Ci !"i,*'~ :::.~ oot to •Difdd tWze. pei"Ce:-rt (87..>} pe.r ar.it<.:m. 4nt.Qfl)8t Ofl Ui~ 8(:nds s!1a!i M pgy!in!a on Sie~'-h ~,it~ ~~symr~ 1t nat~ ~corr~~ ~~n~,~r 1. ~000.l t~ ti>~ p.-?~on ~~;<;.-s..~ 1!.ar1~ app(1t}r; 0~1 ~h~ 84;~~-j Regi&tratioon (1.">0!\$ QS th~ Owr:(:3t :nari:.of >1t·;;a ov t'le REt-~r;;" DGh~ 1a~·mm:i!8!efy ~~ing eadl-~; ~''it~~ P~yment Datl). ~u::;h 1:-,tar~ ~ti be: ~·if.id ~Y c.~~ en oro-;t .tit roo Paying f,goot ~m.:~w to the Own~, s~ t;-i.-.. ad&!'~-Q1 ti.l?..ti Owrn:'1' '~$ ~ ~~~.tm ~ t'!9 8end Reg;iltmi:k~n Boo!cs. P~! of end pi"emt1.im (rt a!"tr1 (Ht G~Y !'-4o<ld ~rv:i!I ~ ~id up-rm preeer~1 ~ ~~ tn~1eoi sl th~ Prt~pa.! {)ftit.::.e of the Pay:r'9 A~"%~, f:'-Otn the rAi~?Sf oi end ~;taieRl and 9r~m~~n!'l {ii r.,ny} v!l !fl-~ B!>nds iht'lll t;.:~ r.;.t:cyt!b'B :ri ifJwki! mOIWf)' oft~ Uriitw S!Gtas c! Am~iGR. Tr!tl! 3o:Ttde: ~all b02:i !ntar\1$1. fr~n i'ha kf~e;oo.i Payrr..errt Otns n~)(t pr~1.'.;aa:•r•9 H;.~ date 0ot aut.t\<miicmh .. -n or too BonO& (e;(cept for any Bond whid1 la .oJuth9trt..ic.Bt&d on f:t;"i int~ ?~~~t Dtita, in whlC:-1 ev~nt suei1 Bond ~sl! bea! loteroat mxn ~;r, ~£ttt of 2lt1hootlc~ti,,~. ;:1.nd t:..:J(r~t fer a·ey 601l\1 wh!t"..-'1 is autP.entk:ated l'.iri\':r ~o S..t;pt~m~f 1, . . ~ .. ~ v·. . : ~~ ~~j_-~~~~ '.:;; " .. ;. ~_:;·, .:~~-> ..... .. ' ~ ~ .· ....... 1~ in whict> ~v..-:il'\t $uch 13.onr.i sh~li ~a: !~~ere-s! ~mm thP-IS.':>1.1e D':lte}: p:-ovi'.::£d, ncwevw. tr!st 11. :i$ oi ti:::: dstd 01 :ttiiher~ticMion c1f 1wy Bc;1d, interest t~.;.roon :~ 1r. ~2fs~tt. 3l•ct~ ~r.d s':~!I t.t:1 .. r irlr~~~i from th~-' :.1a~e ~v w\·ii~/'I !:·nr~r<?st ~.as pr•;\liOL'.Sly ;)<-sef'I poid c-r maoo ava!lable f1..~r ~n~m~rt !r. :uu. {•~) M_~!4t,! J3=~!.E1!£i2£1. 1 i-:& Sondf) m,;;t._i~11g 01 0r b3f::;re St:-ot~!" ..... t;~r 1, 199-J, s~1:1ll nm be sut~c-ct to ::{-.(10;,;:1 r~dar:·n1tl(;r. priQ; to ;-r~at1.1M1.y. Tite Bonds rn.~1 •• ,:~~g 011 N Aftt·:" ,Jut;· 2, ~t(,Yi), s~' ~ii ~~ ~,,,=.>ie~t ~o :eL-:i•npUr;f'. pficr t1; their respcct!v~ mettaity dote'.:;, ~ th~ optkm er. tl1::: Grr1. 0:5 a \l:~·-·i-2' :~• ;;-; cart irt in11erRe order Ci1 :"r.$.tu.-Hias a:-:•:1 :-;ry i~t wit~1in a mal:ur!ty. fr:¥~rn &:if ~urc;, (~~ -:i·Ja:i:Fit;i.; fLJ<':j;, on 2riy 11"1~.~it-<:~ Pai-m<errit Dfk ori or aftBr Septanber 1, 100S, ac t~te l'cili:··Hi~·«.:i $!.:~·-· ... _. e Rec!emptk'm ~(ice;; (exp"esset:l 3~• pen.~entsga; cf t~w~ pr~;-x~i~! ~mm:nt 0, tile Bonds to be roo~m'e'j\' ph.!$ e.ccruec !nter~t thereon to the date of red~mptkln: ~~ . .ili;!b<-;1 1, 1 ~i::~; ::·; Mnl'as ·;. 200C &;~~amboiec' t, ~O:X> o: March 1, 2001 Saptami:>df 1, it"~j 1 Eanc th3rf;.atter ,..,"" ....... , .. ". ~ ~{'...,,~ ... :: ·1~ ·;t; ~ .o ~oo.o T11e City iha;; QN$ fr~ P;iyh~ A~! nrtrt~~ i:~t?.~.;;v .u: ii£ :11t-=::1ncr. ·c) ·~;~ Borids unne< this subeeotioo \&). e;;d at,a~ de;~'t tth !:.).f\1~t..11ta (or A•Jthorizl.':d t~'i~i'™'fltS ·ro9t;....-fng not it!ter than The re..~on dBi~) ~ tm s:J~ r~r.pt~ wt~:t; iha Psying Agem at ~ iorty--the \45) ~~ prt.or to thit ~te 'G~ ~er SUOl rsd~mpi~et~. (b) ]!4andf!.tcft·.~t!!Q_f~~.Y-tlf!!J. ~:-ne ·ram-, 8or.d~ 3nai1 atw be S•JbjSf.!t to rt-~~ in wt1o;.~. or ~; 9fll't b¥ it.it, Ci1 ~t~'1b~r i In 0~ch ;~r comrrt$nci~ ori tt1e da~~ ~ fort~ !n u·"'~ fi:pu:i-ca~ ~-~ F't..m.~1~ P,qrr..~1nent ~'rem S!nkir>g -::11~ ~!le"°1e1~. at 3 ~emptl~i Pd•..::G ecrr..~ to t~~ prir.Qpa! :'!T.C•Unt thereof t..:-t~ r~n'ted. \'\r'1..,t:i .. -t orarn!1.1m, ITT tti:e ~~'f<4'Q3te P.H.pectfve pnr.-ci:.Jl1! arm).un~ Ei.i"1'1 01! ~~~~ir ~ tn ti~ tt:i~~~f! ~"~r$ itt'. z-.;!t fO!'th ;fi t~i~ ~ppH;:.;f!ib~\!: B\':~d ir'"'\.l~c~ . .t.,groo;-riMt: ;:v.J,,f:Jed, 1:-o;~nr~ ~mtt rt t.e.lf;.a but N>t 1lff <.!i ~he T~rrn B-•.mOO tm·,,.~ ~ ~ piJfflU~rn t.~ ~11eact"h.:i~ (B) ~~. ~ ~~~! $tfrOCr}~ o~ s!I fuili!"C Slr;~!n.g -=und ti·wanmff!1t5 ~'~1: ba ;-:e(i.ifl"~ tty 'ihs ;a~~'<~t. t··rin(.ipgi ~moun~ v1 Term 8cnda ric r~~ro. to be cl~«ftX"t.ac ~rr:c1'i~ !s!Z-cl1 Sm~u~ f~~ ~~~Wrt<\::tlts ~x1 .t; ~10 se;t~ b~~~ !r; • • £ jft.. .. .;_....,. ~ C!C o~· 'j t ' ..,.. :io-. f'l>u> i'""i<>.. • ~ ,,.p ~ n· ,.,_ m.~rat n1~ "'~ "'' 'f"'.t: .'J,, t.t~ M«~:. .. "fmnM J..'r' ... AQI •• •ri/ !W:•HOO r?~;ce <.•. WdG1. ~;;;.temim;:tt~ !?.h.":(U ~ Giver1 by ~ti.a C~1 tri ~.~ f'1;tying Agi?nt). :ti) ~~ of P~1snpt:on. U:;~se ~aived b)i an~· ~r-er (tf Bot:d~ t-.• oo t~;,,~. ~'f~al r.oi~:'~ r~: ~my reoempti~' of So~ eh8U oo Qi'>!M, at thl:7 ~100 of tt'it1 p~'!";!Cij ~~119 sue~ ?ed~optl~;-1, by th!! P!r1mg AW;rit by rr.a~•nu l) C¢py of S'l c'iftc~ r~1µtk.:ot not~ ty fti"St c'...a~ ma.ii a~ ~ 30 da~"S i:;nd rict mort: thert 00 day:i pr~ tn H'.4& dms tiJt.t-0 f& redetnpt:oo to ~1e Ctwi1~1 e>f thi' Bf';ncj or e..f.iOd& to CQ ~neci m th$ ;:;~ s~Wfi o~ too So~ ~~r5noo ~ooM or a~ ~KITT ot~" :iddress as 1$ ru~h91 It; ~'f~~~~ by ~~ci'J Owffi3if tv 1.00 Pa}~IQ -~~. {o') Coot~ 9f..J3#~~~·. /AJt .,ffk!ai ntTtlr:~ ot r~pt~ ahsU ~.le di'oted &~ 1'.ha.lf stat~: -11- ,'I:) t'l,.., R""<i""""'"·""'jj,,,,. i:>ri,.,.. \I~ t ...., \W'b;";';l,~\.·Un .. • .. ·-.1; (ii/) that on \he iOOerr;~ticn dat~ the Aeden1pUon PriCB will b~ome due and payab'e wrtn ;~pect to eac.11 sucn Bond or portion thereof cal!ed for redemption, and thai ~fiter~i wrtn r~oci thereto shall ca.a&e to accrue fror"1 :md after srtid aate. and f'I} thg p!:i,;t1 or plset-i..s whc,~e such Bonds are to be summdered 101 payn"?-Sii\ ot t~~ ~~r:-:~thm Price, wh:ci: ;.:iiaCt:!"" of payment may inc!uc1a the Pnnc!pai ()tfK;e of th1; P3:ti·~~ Agent. (ej Plr...t"TI.•~-of ~er.:if:',TIQt~lL.. ~·r.-~.:..:. A1 least tMrty {30i d;;}~ pricf to any reae,..nntwri det~. u,:e Ctt-1 8t'lall '::.!~;;.;isrr wtt!"i t.h~ Paying Agoot _an i:Amount ct m.!'.m.av {or Au~bot~~ lnv~.,..~rnt m~tJr!nii ;1ot iata< th:e~ thri t:iah:; of r00emp~ion} s:Jfflclen~ 'to pay ~~·~ P~i!'mOtttlr'I ?tiee {Y-lo:'>'.:.!!rg Slnkin; Fw1d [i:i•t311mflnts} 1.)f au tnfj wnds Ol porticM of 8~ ~ici"1 a1·e tu ~ ~i~ on tha~ dale. {1) . ~ice_Qt .B9d~k>n. Officisl n~~:e ot :-r.derrlptioo having bf'.eil g!ven w Sf016$;"\ld, the~ or portit)M oi Bnt.-j£' sot~~' r~ r~ shaG, on tll'1 r~iott mkl. btcomfl ®E: lWd ~'a st the R&tier···pt!0fl Ptice tnertdn specified. 41~ fr~ !.l!'"f!; 2ft~ ~a. d8te (!.m~ ~ Ctt.y w.a rJ~stt.;I! !r: t!"ie psyrnem of th::_ Red9mption Pnou~ .st.~ fk.iMs or :>-'W:iont ot Borfds st!-8.12 cea~ to hsv~ ffltefam socr~ thereon. Upon fltUr.'er.der of ~Ui:h 8~ tr:;f r~-r=~-1~ In accordance ~h eakj ,~Ice. woo Sor;d~ ~ti&li bu ~ocs by ttlf-P'dy!ll'~ ~rn l!t \h9 ~pHo:i Pnr;e. 't~dmM1t$ cf hitens: due on c.H· pno!' to the redem~ d&H ~~~!: oo psyabje a!i i'lef~ provkJOO for P!Jlfnetb~ o! !.~~. Upon &u.-'l"&~ f-01 ~rrf PMi-'i} i'~-7\ption of aft}-6-Jn~. thc""'e ~ ~ Pf-t:>pared to: \h6 OwMil' a ~ 9cnc::! ;)f &ends r.Zf t~~ safAe rnotl~rti ~!"l ti°)!! ~rr-..:ium of mit; .t::npa!<i Slrloo}pal. .~u Bow~ \';h~~ ha-.':! oo~h) r'X.ie&,TI£d s:ruu1 be t:~.nu.Aoo ~ ~~ ~ tne ?ayn ;~ Agdrrt i'r.lt~ ~ i1CJ!, 00 ~i-..·&..-00. N"tth&f Hifi ~&Pui~ ot ~ny d.000 V·i/{tl}J to r~~-..a &ny notice 3tl msrle-J ~ itcy defect tll&ein '*-tO flfft;:,~ t~~ ~~ff:ct-~!'U:'!f of the pm-caedk'":JS fQf r.:~emµ~~Ol o! ~ Bunt.is r;or tr\(• ~ion ct acr.n.~a! c~ ;;-rttir~t tl!ar&;y,i. ~g) fi.Htl!!!,1{•2~ir:..'tt; ;;; ~dd\tic;;i ·(n t~ fo-:er-~t~ not!~{', t.;r"u'1~'f ootic.e t.tlai~ b!:I ~h·oo ttt trte PEyin;: />.gem: a~ -r;et o.;t ociow, but no~ .... ~ In EW;.j fu1'ther ~'1G-1tce nor MY !ai~ure to gt\r~ i.<i~ ~r ~n·y port;cn (if Str(".f. furt.il.51' notict.~ sTJtl.ll !f'f en~ matmet defeat tl-1! sfflfH:':ti1;~n~ u! .; c~s~ fr't~ ffl'O~;'F.,llion !t nc-t:L~ t~•f is {live;' ~ atxwe prescr!boo: \i! Eeo'1 ~i;rttatt=' r;otict:l of r~fem;:»foo ~ve.1 ire:(!:.-.:~-!def '.lha!l ~-orrtairi too in10C!'!llt!or: i~~8!i 8001~ k1r a•1 <>fiictsi rd.~ cf r,-Werf!p-Foti pius {Aj ttrS CUSe? nombera of ~ S(';f'..\Jit bt:H\~:~ r&~l:..~; {Bl the :date ot ori-gi1121 .O~tvtlfY o? itt& Sondfl' as ~t'*'Ji· c-e111•91·~~ {C} rt-~ t~e \'\f ifii~esi ·~~ciJl~tad vlil:h respect toi> eactc &:.-nd t.~nq rf>'d~m~d; ~O) ihti r1l8turtty ~ta ot 00{,tl P-.ono bfWng roo~Gd; -12- I I .~:"id ~;:) ar1v nti'1P.1 ~:l.:;•::;-<~i!·.re 1n!(•rmz.tion ::er;;ded to id6:iitlf)' eccufa~ely tn:. El0r.ds ~;;g r&d~"":l!~ei:i :i1J t:acn furt"'ier ric·ti·~ o·? r~!.mp~:cr! s!ial! oz sen~ at :e;.st 35 uay5 hefr;re t!i~ :"Cdeff"!:::~i~n d;;itt:; ~Y i'C'!Qist~•so or c..~rtmed mE1i! or ovemight delivery service to sF r~!ster'.~ S('CUtiti~ r!epo~or'.as 1~-e, m tha bus::iess of r1i:>ld!ng s1~bsta1itiR! arr.cums of !mr.rumoote cf h~ CUf'"'prisinQ the Gonds 2nG to onl.~ or rnore- 1~k~r;)'=!~ion Sf:>f\i!c~.;. t•"i Ea-:;i< &LlCh f!.!'~~'lH notic~ sh.31! !:::G Ptti'>lish~i 0nt: !l~fal :n a Fin3ricia! Ne:.-.rs;:.apc:, oc !1 such f.HJb:~cari·~i1 iS ir.!practk~! o• ur.U;.ai;.' tc reach a ~~bs!.antiJ! nurnllf!r ot the Ow.n&ro or ti1e S:mcts. irs ~omf; ot~'i:'( t:nancial newspaper or journal which reg;J!nrty carries not:c;es ot redampi:Cn of ctht:r ;;ii>1nmier.w ~imitrir to t~ Bonds, sucli pubiicaticn tc~ be l""cide at le~~ ~'ti d<!ts ~ric:-to th~ date fiAsd f:'-r recie;y.r:pticn . .,1v} Upcn ~Ii\~ p.:ly'T;en.t o1 t:m P~Jen~ri.;c-n Pr:ce 1J! ~he Bvf!ds ht.!ng iedeernBd. a~cri :~&"'..):: u cfam ~r~:-!Mer .A 11i:1::1s ·3'~i,2d fc• evch p:.ir;..o.~ ~;-~~1ll ~1 th? GUS!~ m•r.;lx~r '.cent;t~ing, ~Y ~:.!:J ;A~;rt rr.::iii!J'ii'!y, thFJ. 8'.mdt:· 00!11g r~ted ':!itith the pre.~a~~ 0! ~,;.:(:h ciiGCf.. O"' oth;:,;-~rnne!a~ -(t:} _ f;!LQ?.'....:.~>l~!:.:.P-1;-:;n .9~ -~f{n~a· !n ~he ~veiit :::~fr·; a r•1r:;or. rJ1 any Bond is C3!~ .!~! :-~r.:!e!rs~~t~C!?, t~~~!'"; ~~P-~!'! :-~~?!"~·j~~ of ~~!~:t &::.(lct ~·~~f~~~·rr;.~j ~!! ~l't ~·~':-. th~ Counce sr.a;: -=i~·~r;:; ... its .:?nd 'th:c: f\1v:n~ A~ s..:'i;:.Jl ~:.;th.-:tn~ic;;-;'~~ and ,:,191iver m ~?'le Own~ . .;i1 tiiO ¥?~\.'Se vf t1·,.a C'uw:ci!. s '"'-t':li Bcm:. or Bnr-~~ • .}t t!:•_. s..:-tr~)it: ~rn{;~; .;if•d r~·idf;.1nty, of a;,:t:CtcJ~ZOO 0'3'nor1~:mit~r~ !r: i:i~·fF~~toe princ•p~! ~rr.otmt ~l;;;;~ ~') ~hs u~red~emed f,-Qf"tk°:.r1 Df th~ fi~·:•:l er f;;c,r. .. ~, {it ~0 .. P~ . .QLl~~~!IfPHor~-W~~~::-crrt Bt-...rm are k; t>e t~~oacted for :-ed~o:r~ptton. t1~l-! Payiii~ -~!4a~:t ~1;)_!~ d~tt--r-i1lne, bv lot. rt:fl rn.•m~-n 01 tr.r. &:ma~ t~ ~P rs-~~J. anct s!'i~ll no~lfy t!-1~ Co;.,;ndl th~~of. t.JI Sor.Os. r~d Pl!"'S.1;!!r~t to in;~ s.oc~:~,-;,~~ ~hut: ~ CH~OrHed ;C!!'Q sna!I 00 S>lJl(e~~dered to th~ C-0uc1c.it SECTit>W .'Vl&. F~·•m ~! Bon~. Th~ Bo~ds, ~~€-fo,-sn cf ?iayt1:~ P..ge.j;f t:i r:el"!fflcatg of n:io.~!':ut..li\~O•'· end t!'"~e brrn ot ~a~~'"\me,1t ~G 9ppaa;:-thsr,; ... ):r. i;nti;~ i".14.! suoatP-nt:a!~· in ~ n.:..s::r~tive ·· "nn~ ~.sit 701-th :ri E-.:ilfbff A, Ex.11'.oit }'--1 '1n.j ;~ ;,:.n~:-.1rt f...·~2 .. ffds~.lh&:i hsrst.;.> and ~JY 1Ms re1g..-et\ve !f•CCffl)Or.lted t'11?1'>)i•1. with n~~uafy m ~PP'Otiri~ie \f.!r!et~orn:s. fJ:11i~;O:l$ a~-d lm-s~~;s, ~:S ~mfttro (:( l <1qV.itM by th~ nr.-$W..i1!C-fl, 9ECTIOH 'J,(if. ~!-q~ution at ~"~~-Th"S! ~o!'\-.:;~ shz:i! be &;g.~eo !ti H1& nam.r. ar.d ('ff! be.~"f c;)t loo C«:~· wh~ ih~ m~r;!._tf:i Cr:" f c·;:Sifni:~ ~~gn~hJl'~ c! ~l;i 'Vi!!.Y01 (1ftd th~ Dirl!tetor of f-1n@:~.:i ettE'-+~~ec bi tr~ fliGf!ii}-:'..! t·•· 1itc:~mi~.li' ~g!:Cftua:: of ui~ ~:.t~.v C.ierk. The &1r:d3 s.~ii than tR:-o~IL·erer: '(CJ b'ie Pa~~r~ A~e-Hi ·;rH' ~H-aMn!r.::.1.l't\<;it1 ~~ it. in ~ a..-w officer wb!l sh<!?~ n~Ni:J sli;"'a~ efl:.f ,,; thr"I 8(:~ q~ll res~ to t'e ~ucl; vff:2Bf be!cn:i the 80rid$ so lSl!7iM:d ~:i ;··ave t°;(:.#;1 St~W.~)fr~;c;-i'Hi.d or d~!lv~~d b} ~lie ?'Ayfr~g Agem c--; ~Jed b\! the CH"/, r.uct• 6-ond~ may nwMt~~~,,,."!~ oo m..!~n::-t0~;~~~:t de!l\·m~ and !Ssuad and. 1..epo:-s mot! autnentk;..$1l.:.m.. oJ:!H\'& y afKi r~ .. liih3-!l te s.:s t.t;1:~ll!J upo~i <lill.1 CUy as th~ t.h~ looMt..~I ..-he s1gn~i U:$ Mrn~ r.:..i~ oontim.!60 !o o~· sur;f! oificer of tne Ctty .. A:so. any ~Id may t~e sig1r-Jd an ~i!"!i~ nf tn& Oiy ":i'I 1.m;.; !r.afvl~i..1t1) w:-10 • ..,n ·:t~ actwt: I I dste o! tht! eice<...:ticr! C.lf StJct'i 9orid St'i911 b~ th~ orooer omcar slt:1ough c.n ttie nomlr.R! da\·e .-,f ~uch Bc:-·d ~~-c:~: indi•1!dual shaH ;im havt: ~~, sut.h co;-:rn. OPiy ~0r.:1 o~ ~h'-" ao:~ds af6 snail c-aar tl':e1oor. 2 c.srti!icete of a1.1ti"ientice.t1<A i"l substantie!l~' tr.a ~om· ~e.? !orU• In txti:t:lt A, tY:hibft 1\-1 ~nd Fxhibit A·-2, as ap~llcabl.-3, msm..:al'y execut?.-d :Jy His Payill-J A~ii1~t. ~hall blJ velid or ubliga!Or)' tar any pmpo;,:~ or eritrt'sci :o ::he beri9frt5 !lf till~ R~OiUii.:'H:. end s11ch certif!c~~s of th~ Pa)ling .e.ge~t Bot'ial! be conr:l~~;ive evid£nce that 'lhe Bo1~01J sc a:..1rienticat~d hP. ·1~ t"eei! du!y aut~1Pritic1;lt3(i &1hi ceu·-.r:.i1eo i1ereunoer ~na ¥a ll:ithied to the be--,ems of t~is Reec!utior:. SEGTiO~ 2.oa. !~MfM t-f ~~..b. A~y Bono n"l31, In accordsnr:;e witf°; i-:~ ~errr:s, i'.M't trllnsf~mJd ~1pi.)n th~ 3cnc ffftgiatretion Bocks by Uie p.3•--SOrt In wt'iose nam~ rt is ••19fsteroo, it !)u1sor1 o: !:'~ ilit cl:..'t.1 i:;i.rt:icrized attom~, vpo~l surreodt;t of e:~r..·t~ Goiid fer ~nc~~ation, a!;c1Jrr.µanif!C by dfr.l'l!'l'y of s wrti!fi<"'1 lnstr,_;m~nt of tranafc( lti ') form Rppmved !Jy ~t~a Payi'17 Agent, du!) !:)"ec:,,·a·!d. 1iif~en~ve1 3i:-';' Bond -;ha!: he '$Ui?cn~red f(lr transfer, t~f: P~ylng A~;-:;~H llh.:::1: tii~eupcr: &~.M·1g:1tl<.~te ~nd d~ii11e; !o ti'!e tr~~,!ff"~(.; s •i.Pw ~nd !Jr ao..-:d·~ of lik>.= iM1:::r, :-i13'.ur;ty ancJ tQ-Qreg8te princ!~12: sr:•ounL N.':) Bontjs tha rn:rtic=~ of n:-dernµti~_m 0f whldi Tia~ ~~i 0ailea p;.il'SU$-.t to St~;ion ?.05~d) sh~!i be subje·.:i to ~r~nst43r ;:>\.!:-SIJSi!t to this Se--;k"1\;. &eCTfON :t...O~, ~1.etmr4{fs-~f ~~~~:fa; &lnGs m.sy bd exchari~ed tt t~~ P.1~p1i NTI~ of t:--!s Pay'n~~ l<.gifttt for Bvni.:.,<s oi tb~ t~rna ttti!Or and mat1jrtt'-1 ar~ oi o~rm; ~~~h.:::r;.,~ =enc~!;~s.~~~~. ~~;.:; Gc:1d~ ~he r;c!!~-e ::! :r~~ernpt!on ~! ':l'h!c~~ h~~ bee~ ~..:?~~ pu~t to S..~is;:.n ;. .0~\rO shali oe s:.:b~~ to tt;r.r.:nange pun;ue~t to thl3 Secticr. "'.'~CTIOH .i. t!i. Y~~;et"y l!(\rttjs. Th3 6.'1:."\dJ!o myy be ~J lrii!ie.lr1 in torf\;>oraft form axd"!a~.sbie ror c:iEft:ihl~ eo.i....m whlffi r"'G\fy tm jeilvery. "!'M tempt".4f"ar1 6cnds M~'/ be fJ:"im\(11::. ilt~r:.\~ <.~ typcswmter,, fihRI~ be 01 ~cii t~~o;ninati.::ns as m;Jy be determ~ ny th~ Cn.~m~ ar~ mey cont8h·~ !W':Jti re'l~oo !o miy of i~.e pi"o,i~?on.~ vf tri~ ~h!ti<m % i~tR/ oo appropf!'tts. Evary ttmpof~ry &,'"lflC ::;hafl bf; executs-j bf tht1 (l~~ deai9t'l!(~~ in ~ct~ ~.07 h9re'J-01 and be r~!f't&(9(1 ~i1d a:;t:"'lenth::::stie.'<! 0¥ ti'\i :"l~~ir-O P,t;<t:it upon i~;t ~~·~ i::-0:'tt1~!otc$ and In tiUb¥hmttaUy t~~ scroo ;;~n>lor ~~ too ooiin~;·-..;"S ~~~s. !~ ~i-iit-Col11~' i.\.~~i) t~-n$)0"'&ry Bond#, tt wi1; ax~c-lrte ar.c f!imiSh ooftnit!vi> e.or".r:JI ~iH1tut tte:~~. t:~{'l ~h-0r-rtt·O{).~ tt~ ~.,mpon~~ Boods may t>E:! ~rn1&"tci&r~. ior car:~Jll'Hcm, In wi:t:!l~,~ ~hi!;r~1ot ;;_~ Hl~ ~~!ool~I Otf'~ o~ th& P£i.yiog /;gent and u~is Fay!f!t.J .A.~~1 ~h~il ~Ptri«itlcBh'; and rl~lh•'M !tt ~ch~ngl-~01 w~ti te~por3•'}' a.c:jn-:#. sn ~al ~w~as,.:@ pr~!".t::tp~l i!mount cf ct-a~in\1wlj) Bvndti of eutho~iltid dt.:lncm!n~tic!la. Uml~ 5'.l exc<httr~Gd, tt~ t .. --npo.-ary Borh.1~ ~all l"Je e-rrt:tl9d ~~ !he o.:i;me banefflr> tmde~ thra Ai.~~i;;;~ i~o t!a~~n!thr~ ?,;;•1dt ~utti,,i'ii:ca!@d and JettvEWad hii'!'fo!U¥''4~. SECTION '1.,"i1. ~~i;.d ~~~~ra~;o:J ;>o.~. Th~ fteg~utr.tJ.t wli! r.tn,'.! m acL~ to be r.ept at rt~ r-~rtnt~~·3\ Otf~~-e !'.wrn-c~~~ Sooo R~~trntwr. 3=Jok~ for thf; r~~t~io~ ti~ transfer o1 Ulf; Sf)(sds., Vimich 3.'1;3;i a~ !ill t!m~ durif,g .-~.:!~1 ~us&1~ h~ oo 01~:1 ti) lr~kl:i by u·'(;; Ctty; and. up¢n ~r~uf•ta~k'~' !c.-1-:~.1c1·, ~ .. upa .... ~.-tS<i~ P-&:g~~m1 m"tt.H, toldt1' sucn re&SCf'l':bi'! r'agul~t~ons e\i ii may or~;;c1~. rf.!9l6t~r or t;Anofi!\· o; t:;;t~.i~ tr. ~ ragislered Of tr1i:!r1sfooed. oo s.&-!d 00-o~~. BM~ as hE':!'.'!h1i:1t?fara f'\Oliid~. SECTION 2.12. ~nd-s M~~ed, l:o'1~i$ 0&$h't.f,-mi or S.1cS~. ii i'l'iW ~Of·~~ ~N-111 become mutilated. ti1.o ?a}ling A{jr&m s..'l<)U mereuP"Qn authenu.-;~tr, ;::a d-all\r'.-. " ~· 8Md or Hk.$ maturity and prlncip~i omotsnt In ttxt..-h~nge and ~ab:l.)~rt!l\!or. ft.·~· !~ .• 9~:!<#!~ i>J -14- rr.uti1 s1~. b: 1"l 0~iv upr;r. FiW:"'t>,.,def tl'l the r r?yir.g t..gc;"'t c~ tht? 8or;::l ~o mutiia~et.1. Ever.{ 17H .. 'l~!ate'1 8c11d ~c ~:m:!tin~~.1 to tii1:: Pay!!1g A~~,~ s:t~il ~ ctirn:e:iliei1 t;y I~ and .;ai~verE'd to, or upon ~; :~ C.·!'OO~ (ii. th~ Cit':. :: ar:y Em'td !~~..;f::,:J h01ew~CH3'f a~· ah o.~ !ost, d:;;stroy~d or &-toten, ~'lictenx t:..-1 ~1..;-:h !~~. d~r..1ct:o11 or the~\ rr::.iy ;,e s1:bmittw t~ th<tl City ~nd tMe Pa~·in~ · Agf:lr~ ar.1.i, ;r %('h ev~dc;1ce be ~t:stactOfJ' ~t.· them ;:md indemnity c;:it!sfs~toiy to then-1 s:~ai! be gt'len, tlle Pay!ng Agem shall thert"11..:o•m a.irt::.-mti".8ta ilnd deliver, e new Bond e;f 1i~c nmtu:-ity aoo pr!rn:.:tpal amcur.t in 1:ei1 of :.me! :n subSt!tlrtion for the Bond so ic-si, dootro}'OO or ~~., {or ff &R'/ sucti 8.ood ~~at• ht1ve maturEd or shall ha.v!J' been cai!ed !or r9de~lon. iil8tead of !SS' 1tng a :ruoo\ tu~c> ncm1:.: t!'\e Paying Agent mcy P&Y the same wrthout eurrnr!Mi t~;.;;:eof Up!:-it r~pt o1 lntiemni!y S11tlsfactory to the Paving Agent) Th~ City m2y !'~Jidre ps~ <"fa :.aascn.tb!e fee for eacn ne"" Bond issued undsr thls ~~ .snr. o1 ti'!tl expeflS(.~ ~h~ch m~y be Incurred by the City snc the Payln~ Ag13nt. An~ Bond issued under the provii:>icm; c! t:his Sec~!or1 in liet• of any Bond alleged ·~o be lost, deetro~ or ~oiefl sttafi cc .1St!tu!s ~~ on9lnal c-0ntrBctual obiigat!on on the part cf ~he Cit)· whether or not the BonC ~Ueged to bf) ie&t, deetroyoo or st~ai be at any time er:forceabl$ by anyOM, ar1d sr.ali be equally .and pr0portionat~)' entit!ed to the benefits of t:1is Resolvtton with ail ot:-ier Bonds secured by ·::hi~ fiesolution. I SECTiO~ ;'.1:..0i. ~?l!'l of IS-Oritss. 7h~ aot'1d::; sh<'.!'rl b~ $Cid to tltc Or:~!na.! Purch:::iser pursuant to ::i SQl'ld ~urcii~s~ Agre.e:r.ent or /\.£1r~~;:.r:ts t1etwes'1 thf: Coi.w,c:1 ein.1 C:igi~a1 P1Jrcna~r. {1; ins Ma;rc-r 9.r.d the Dira<.o-;_or o1 fh~;1ce :-:11~ r.sreby sdho~ized tr. 3gll the 8~Jr:1s ss s caml·~noo si:;g'.e; 1Sfi.ue as sst fortn in ciai.1$<:-(':) of tr:e ddinitio:'! Llf tti~ Oor1ds !n Sectiofl 1.C· ·, al1d it) !i9got:atB b.nd exac,;.11~ !i B:;nd P!.1.-ci·1a!:><= Ag~eement wid1 tns: OriDii"lai Purchae6-r th~oof. prov!d12d tne !:-ragclng oor.dltlcns ar& rnc!: ~at; -~ averaae irit'9fest i ate en tr.e &lnds doe~ !"lot exceed eeven ar.d one-han per_ .... i. \," ~~',~;:~'"annum: {:;;) 'fr.8 nEt p:~:?".;'=nr vah..1~ ~:;;di19s ii~ :r.tar~ cc-st resultln~ ~m.ri tt:a retur.ding is at tesst ~wo PNC611! \2%) of ti1e out~•~md!n.g prlrit,pal amount of ~t~e Prior Bon~. being $98,500. {Vi n-.~ ;;.-i;;y~t!~ &11veray& !T.:it"u;;t):-dais v1 tt~ F:uf"~,1.ct~rr~ ~~Si~s~s; portion of th~ !ssus ls no iater than the wetgit.ted a1i:3rage m~ui-ity dt:iit~ of ih~ Prior 8m\~; \e) Tha nm~i matluity ~fr!'lg n~t~mding Bonoo r):Jrticre nt tl"te i><_)noo ;~. not litt~~ ti··~o 8e;p~en-ibar 4, 2011: or.d {f) Tha C~ Data rt or or p;ior to P.pril 1, ·;eQ'), {Z, The Mayor and Dfre;ctcr ~' Raanca are ~eret)y a~i~i'lorizoo to~ t~ PMum:fa1~ acn~ ass. ~'19~ isal~ es urt f~tn t:1 ciF.s=..~ (2) 'lf the a€if!r:iti~n ot 1ilf: E:vt'<:?.$ :;i ~t!~~1 ·~ .o J, and to ~egt>. i.-:;~;_o ,a;1d 1!1'.et'.-...1:tl ~ Send Furooese Agr*:Ta~r-·t wit.h t~~ Orig!nal ?~,,~,~ thfM'~for, p17.;v:~~1 tht.;t &~J ")i ths ft.1f~-l.li'"i~ ·:'.:f'l"i'-i':tt:;.-r-4 ~?t '~fth tt1 pgragr~1 \fl (j/ ·!·r.;-: Ma--1cr :::!!'(' rnr~mo..-of nn ... ~""~ :~·e ~-eb:; s~hc•?.z.~) tc t~! -::~~~ lm(<:O'-'~fl;i?.'1~ E.o~-:f~~ 3~ ~ etr~!:'.1 Ir.sue £.!. aet ~ortt; k; d.a~ (,:,! :;~ t:Y..:; de~Wit<c.in Oi !ha &~·:-eds ~n S8'":'1.ioi·; ~.01, srrti ~a r~t~!e ~~ &ot¢..;utti a &---00 Purc~~ase .~gr~m~--i1 ~1t~~ 1:.~ Orig!ru~! P•J!'.:.h:.i.~:-t:-1*,!r~fo:, ~;r~1!~h;,..; H1tJ cond!tlons s.~ f1xt11 in par~gmph fi). WA~ (a), {r1} and (1) arf! rr;tit, "'t~ ~he !rwernge ~r;c~r~~ r.i:.t~ on tt\6 !rnpto·,1~ment ~1&; (.f,<J~ r•ot ax~ ~il~e ~-t-~:~~ ~} 1:i.e~ :&n~;.,m. SlieiiO'~ 2A.02'.. :.:..lfkA!il 8~;,:t~. i r:-:-~'!~ycr. ti":s-r.::r~"rtm af Fin&nce and U~ Ci~y Ma~ger ~H~ i~~·f':'~Y :ivi'-icrizoo tc:;· ~P~~rc· .. :e a pr~irr1itiJ?ir .. · ::.itlc:~: r;tet~em relr.tin~ ~e: th~ eands arid 1te (~!'J.triht>~~~r. a.rid us.€i :n Wilf'k.'"Ctkm with th~ (!f-'.'~rin~ ea~ ~.3i-3 ·)! the ao~~. r~ Ma;ycf, Fi-:; Di!'fJCYN ~A Fh:~r~ 0.'1d the O~y ~ .. ~flr.gg.s; ar~ nmltb'f &!..ithGrlz~ snd •.lf:ectM \o e.ll:ocu'e tt..,;; fir.;:t~ oftici£t st.;itet'iw.rl and ~f!Y ()~.,~~.:i(l'.ia:-rt or ~~.~"1'!. tr-ei"9W. Ir~ t~·lf} nafTie o~ ~:n.:: on b~he.lf o~ the Cff:\·. 3nd t~WetJyor. tc ~Ll'ltt th~ fino' offlcia1 -16·- I I I i I I ~ ~ i I I I I ~atemar.~ irnd any i;.udt an!•tmtJmant or $~;~pierr;~! tt1 ~e det:vei"ed to tl1(~ Crig.riai PurCt;.ner .v:tr. &uc."1 ap;;to\•3t to b.& conc!uslvePt ~vki~nc€:d by H10ir &''(e~utii:.r; erU d~lvilfY ti'te:-6C1. Ths ~Qprov~! (J! tr1G offici3i &t:r.~~-.-=~!fit t.y ~i2id ~-;ffict:m ::t>c:::i t~ e·1id-er.ca. i by their gx?.Gutlon therac,. BeCTIOW 2.\..t)~. ~t::i.!row ~poalt ar!d Tru~t Agret!'mer.t. Tl'lt: C-t"'Jnc!! ~ei·eby approves the Escrow 0$p~~$i! ;;nd Tmst Agreerrient in Sdb!=.te11tia!!y '~t; ~orm pr~ted nt thiS rn'6et!ng togat~er with any ~cteiit!~'r.s tner-eto or (~h?~ges t'."ler:eir: deern.;id necas~.my •Jf advi~b!e by H1~ M~~·o;, e.cti~g 011 b&.-,z:f of th-s. Citf. ~ub1~ct to acivk~e o~ !;c;urrsel. The Director ct Finan~ or tne Mayor Gr th-G auttio.·izc:d desi~:rnee or ~ith~r of the:m is '1areby BU'ih!lfized ana •J-;rsct&rl, 1or and ii1 t!":e numa Qnd 0ri behalf of tM City, tf'.l '3xec ... 1~ tMi Escrow DepCtlt af•d ·; r..:at: AgrP,(jmerit in sub-sta:-::t!11.Hy th~ fotm ~resented to this rr.&'..::t:aq or with such chs:igs~ a~ may ba ~pprovetl p11r$~!.~nt to the foregoi~ sente.-~, eucn exawtlon th~oof to corm:tute-ccnciuSlve. eviaence cf the approval of the C!ty of &U char~ :rom the f0m1 ot Escrow Uepastt am! · Trus~ Agre!0"1ei-:1t pr~n::ect ~~ t~~ m~Ung, ~\'tiich 1onn of Escrow Qep.~~ and 1·n..st .i\glsar~t ;'i here.by ;ci Q.!i (e3~.;~ app!'ov~~J and Incorporated by refe1er.1ce end macte a part herecf. Sf CT~~ .zA..CM. ?t:rth.J ~orl't)'. T~e ~ffk: .. ~rs cf ~r.~ Crt"1 a;-e rJt';f-:-;:-;y ~utho:t~.t'-d and directed t•J ~xec>11e au doc:vme:1t'S an~ tak~ t'ucr1 a<.--t~~(lS ~ ti~i ;nav deem n~e.:y . or adv~sa~5e ~, t.-rder to ca;ry c-ut ar;d pertc.ml th:; ~)UrPOSt.tS of this Resoiution, ar.a +he ~xH~t~bn Oi t~!t!ng of aucil Jt.1inn 3t1~11 oe !:C~chJS!ve e·ifl~:2 (If ~!i 1'8Ce9Sity or ai.1Vit;.e.omt·1. The Dtrector nt Fln!'lr.00 •~c th~ ~"~ay!Jr are a\rtrmrized to compt(rte ~l'ld to spp~';i{! chanoes ~n any prc'J~~r.'(; o~ ttlit ~h.rtion !'1 or\18' to ac.'!;C4'Tl~i&l the dHiV6£'Y 01 any o! tl·;e &lnds '""' ~Ju~; t~ch ~i.nges may ~ 8ccon~pllsheo' by £itt:icilmer.t of .e C$rtffk;o1;s e't~t.'tad b't t"Ot~ 3(1rni 'Jfr~ ~~ i::~~ ~u~io;~ vi~ frle h! ~he orncs of too City~. QeCTIOH 2k.Ot;. ~~ ui S."ln~. The offir-.e:-E dssignaiad hi S9ci.0"Jr1 2.07 hereof ~sil execc..i,. a~d u~~ P":t"i~ ,~,~er1t el1~Jl a~<tnentl~te ~mo o:ie-ltvet the Bonde to the On~!n~! Purohll$M u~~!'i t$:Cffi~ d ;;,~ t.t.:rcha~ pri;~ and s."laii cre~:ht t~ pr~ a6 pro"~ :n Articie m. eccn~:a~ ;A~-T~"1vt. n~ City GIS!k k>. r11Yteny ~-Ar-io1iza1 tc pr€;}~~ aoo tum~>i to tM pv:-~>t-~a o~ t~ 6-0ndt. issued ~nd.ar fil"~ ~~to;;~ iil~r:~r:-ln::.t tr.a 38.ms & CO~$ si'Jt ~·~ ~;:;:i:l1~iCK1 ccfil.es cf au oroinanNY-. r~ii.!1::(H'~?, s;,o ~.;l.').-;~m~:ts er ·"'"-"'°'-"'••..,,,,Ii ..._,.......i: t"''-'• t"''-;.• r··i.-'·'~'"! t.,. """"" ~_...,__...,;..., •'fld .,., ~lo.£'\ I..· "'H,I,~·· .. .-..• :-...,..,.r,""" ,._._,,..,.. ,,-..~ ,~It '-i:.r.:1 "-:1.-.,,.~liPJJt• c:ff\..J "f'Gi ....,;~ • .-: ~;-;,._,__~:~ lf"".J C.t•~ ~(\..~~ .,1, ;.~~ t.Tt~·· K.,'5".;''li.1-.,~ .. ""'~ '-"" !"~,.,. .. ?t,i.."'CJ' ~CE""'· 1a..lf" ~~- <}t:h-!f -~~ ~nd r~~lli: :;f the Cct~di $n~ w~ D~nct eti0wi1cq :h~1 rt0;thl. ;.'-OW~~~ autriority to ~ l:ie e..;~:..t~ sn.:i •o ~cv~~ '(r~e Sf..-<:-ur!ty i:l"liff~fo:. i~;-;.~ ~.lt':"ft ~~·~ "'1nl6h ... ...::.. -.,,)~~ .......... , "t''" ~· ;...,.~ ..-: ... .,._ .... 6ri ~~~'(""~-~····"""' •.• fl·. c·r ··rr:·; -... A.:..°"'° Notlr~~ ..... , ......... n~~ ~ru ~r.,~·"~1 .. .,_;} ~~t" ""'"~ ....,T'P"~ .. , .... "'--'"'Vf'C·~-1·~1.:a.,.c,_1. IQ J./1 .t, .• ~ ~J·~· .... ;1: i-4'~"-l ,~, .... _ ..... ~ "'·-"'--.... ~ to alt ~&~ lil~tea tr~~r-~jr, ·:/3~~!~f f1}.1;~.(~,-~:·:~· · • .--·~·-~· -.~_,· ·r-·:."· .-.~'-:_-.:-~;·· "r ",. ..-,. SECl,ON 3.11. AppUOO!Gi'i' of Pro~<!~~ ,,,, Saie of B!>~ds. Ut:-Of'I r~Geipt of the p~ocecct3 cf s.:iie c! u-.~ Bvnds •:"r. anv G~ _•£!rig Oa~E:. the prcc~cs U1ereof th3i! be ~orti1w1th s~! ts!da, po:id cvo; ~nd <iepos!t~J aa foHo·Hs: \1) Tne [)!roctor ct Finance s!"!ai! s~ aeide '" tha t~tt ~a<\'ic~ ~1.1nd es'i:~t;l~?'!oo p~rauant to Section 4J)1 tne am(.1unt ~f accrued interest s.~d pr3mh.sm \ff an/~ rac&voo ;;po:i the es.!13 of th'3 Bonds, together with ar.y capita!ized intor&.it 1 ~t::3;ved as part of th.e: purchste priot;; (2) n-ia Directu; o! Flnance 'Sh.;!! pF.!y tc the Escrow 1-io:der ior Cii:-;:;0:lit in i:ll-e Escrow fiJ!'lt.'! ~e~~sneci µ~~u::::mi: m $a!;tion 3.03 of :l~et pon.on of the p<ooeed!l of s-ile OT t:16 R~'i'undtn9 aonaa r~r~nt\ng the R:s~~:rid}ng C::. mp<'l11Mt, ~ st'iai! be set f-nrt~ !:i s :;~ifioota c.: ~hs City; {3) The O:roct-1r of F!mm~ wal! v~os:t ir: trie Proje<.-t !"=uotS estabfis~N:t p~~'8nt tEJ $e1;t!on 3.02 ~hat pc:t:{'!l'I of tt1e proceeds ot S91c o? th~ !mpro¥emoot fkmG~ &:l~RI to fr.r: 6IT"!')U!\t of $ __ ~-_ ~-·-; s.nd {4} n~e Dk~or Of ~~ti3nC~ shal! 5'e-:! as1d~ tf"c.?. jeffUJ.invm uf ~ct1 pre~~ er: tt~ CO$'.i N isstJa~ce Fund ~£·bi!$tie<"J r-:,,;rsuar.t t;:: Sf;';fa:•r· 3.04. SZCT!ON ~.v2. ~' f>~:.--:t1. Tn{;r£ ~a ~~ir;.Jy '~1~tftd ~ ~~!"rat~ fur!d 1.i.. ... iJe ~no~ as ~r:e '"250 Ur.h1~t>· :!\·;.;sr1ua Acqi..'!sit~or~ PmJ~:.t h!rid~· ~-~!~ "'Proj!:X~ r:u!1d·t wnlcf1 st;~!! be ~Id :n ts"•l51 t.1i th~ Oir~~or of FJ!jio.nt~. r:-i~ Of;•_!(-o-;:, .. c1 f:i11~~·K:e f:'(i~li d~vi'Nt moo~'S i~~ ~he Pmj.-ect f'.!Iitt1 fc-r His pt11·pc~':! c,! p~1}i"g 0r !;.,j;i~b~·r~:,")~ ti1i;l e-w~.s cf at::cy .. 1t'ing and CC!'!stroct!ng the Prr.;j.~ct. inc!1.1r.iJ~-.2 i:J;1~ Pot llif1it,:;;-d to all :::~.., _; iH1~kicmc: ~c· or ®rifi~oo wit~ :sttci• a~;!s~t~n ar.rl <X-11~1:-vc-::ior<: ir~ ~;:+)~-ca~~ "1•-0:l :~p1 byi mfl ~rE;{'tnr •lt :-1nn.!"lc--e i,0;1~ t!rne cc. ti<n~ of a Re<:;!t!Sitiof! ot V'l~ CHy -..,.-~~icn·. ~G~ locr.tifk~ ~h~ totA.1 s-trN.;"t!~~t .-:i1 such ~~o;;-i~ i\':. .b~· pa;.j p-.:rSi..l~r·i'. h..' ~u~;r. 8.er:u.isitl~n. inl"'.:ud:f'tg ~!l '('°'~ of co~ in suc'.'1 d~1:~:; as r:~;:i~· ~e ~·,;s•~~l)lfl t<; i?=~ c:~. ar":i ;.·;h~(.f\ a~ ~in t1Jod1:-_;;to ~e ch~.trJ~ ¥.<!tf'1 the ~-'~\~irit to h~ dl~Ol.Y$~cJ; {b} 'c!.~.:1;:~-~ '>.tl~'i '."~~-:.~~;( h1 .. :v.r~h fi~~ !i) thB ~;:l'si~lon nu~'.'t~~1·. \H} H1"1 ;.,,n1.:;1.ir1t t~} 00 o!~btrs~-;1 fa:-po;.y•i\ :.-.1,: of such crAtQ, snd o~i} that e~ch r.:~1~ nf '.~~ iosr1;-i,~0:tj tr11;r'\3ki h~$ ~~11 pr·:;pertv Li-.'::!,:rwj. eieict is a proper charg~ <~9e~'1t'.~ ~;~>..l P'"-Ja.;;~ i:. -~'.~d :J~x1 hat. n:::rt b~t1 ~r-,Y>. ~~ ;:;~ a~;, p:-;;;\~.::lll$ ~ent: ~iv~ :~t) i?• ~oooff.~airie-..:.l r;y an i:1<.:~. i! ~r~. ti-c~;f\ B~~~>tion ::hati a~ wt f9(1\ the f.!(;~fa:in, ~f ~·!:f, ;;.if th-a-Ne! ~r~~ ~~;· (n.~ Bor~~~ i.t~ t:.+: !'~.; fo1 a ?rli.s..-~ BL~ US6 or tc· ft'<n'.<£ or ffrla."'.l~ :i !.;;fln ~.;;-iPSt' ~l'm..~ _ii !JAf! ror;otituhn;J e N'Or·ip;.;l'pOSe \..~~~~vf;) i.~ \i~s1ft; thsn e l#Ute Ol' i~i ~r_,·.:~ITTV?H.~~1t:ii i;(!~i ti!i"\~ .;..::;.rUfy olli:i. - the;o~ has ~ ccrrip!h=uioo wtth Sf:}ctkm &.00 dnd S:"::l".'!~l:J;: ~.fft ui t~~ ?l~:'bt!~<:11 :-;~hti:1g tc the P!'i>J&t~ fuus1ne:;s U~ lh~";l'i:aHon ~ t~~ pct'."~~~ }.:nr iitr;~t~'l~.rm. A.r1y :£tmounts remai!i!ng In tilo Pro!~-t ~=ut'1d ~r.~ t~~ d.nte :Jt c.1mpiffi"iur:, ;;_,j ti11~ Pro:ed tih&U. t!P·PO the f!Hr;g with t~ ;_)ft-~,t~~! i:;f 1-lnR<t~ oi !'J. (;,;rUfic:e'e 011~~?-·~tl!', bf~ trtoi'lSfaTre:d by faf.' o;r~rtm of F!l1i:J1;~ ~itn!:'.;t {.a~ to~~~ '5atri S~vic:":b :-:~nd ~,1 ~,,~ ~Pi'H~ '.l..~ the payment of me ~,r!r:cipa: of a:ny O·.rt~~dooing Soh'~ ;:~ H;P. 'JS,'!!~ ~~;crnre dulf} ;:mo -·18- • · 1 I I l pay~~ie. Jf (b/ to tne P.13( .... : .. : ... ~:{m ~O(}O•Jnt to b{l cppll~ to t~a r3d?.~Ptim-· 1.."lf ~:1y Ol..~t~~~'!tllnq Gnnct5 :m ~:1Y i!v1~Hat;io re(;ernptl~ii date lder'itin~ Ir evch Re<":1·~t S~Cl~Cr.t ~.03. E!:crc-w fur.::. Tt-.ere is ~.en~cy creatact 2 f . ..:nd ~~ oe ~.no,,..-r. ~-; the "He.for-,dirig Escrow Fur::U" (t~ie • Escrc.lo\' Fund~). \oVhlch th-s Cit-t harf'by !;v1tar.ents enc e«gr~ to cs:;se to be mair:ta;nad 2nr_"! w:iich sha!I be he!d :~ tflJ61 by the Ee~r-)w Ho!d9r. Hie Refun:::l!11q Co!'Tl:J(m~r1t sh~!! t;;a peld to the E~cr0w Hol-~$:-a.;.d \"'!~liB.:i In 'i:ne. E~crnw !=°u'1d pursuar.~ to S~c«:lr:-n 3 o-: :?1-Th~ Dir&e~c,; vf i=l~n!'~Cf\ Pl"IRH ~hlo. "1:1 th>D ':1J.1p1k:sbl-.! :-~:osir!g Date. pcy ai; .::m1~'.:l"l~s en dE)fXJs!t in the Bt.,nd Fur1e C't.•t90 purau!rit to Section lg cf the Prio; Bv1!d H(JSC>hr!ion and in thr~ r~fJSe;-ve hm11 ~ras~oo ~:n.i,.va:it ~o Sec~icm 2C of tt:e Prior Bone! Rtl$Olutior. to th~ ~scrow Holder ~Of c!spc;~~ Ir. !t'ie Eecmw Fun-d. The C!ty hereby <.;ovengnts, and by ~wch covs:"ent !;bflg'"-" it'*{f, tC' ~:.:~r':'i~~ Jn J~ly 2, 1995, thl3 privilege of raue"npUon 01 the Piior ec:;,.J~. z;i'd Iii oorin~1!ofl thE't~w~h to taka s,!; StApS required by th~ Prlor Bo11d R*otutio;:; ~c ~mmr~ ths~ aui::r~ ;iriitii~~~ 1~ e;i._~r;¢sd, to the end 'd-:&~ tt'e Prit;tr Uo1'ds are in f&t;t roo~ i:.n J!~~-~. -=~. The Escrow r-:o!ce;-:$1':~~! ho,d the E5(;i0W Fvri~ in m~ fo;-~~ Git~· ur:~ tM E~CE'VY-i DttPOsit. and Tru.st A~reetn~11L Any balaflC<l c.w.n~irr!:-ig m tr.-e ::sc1ow Fund afte-i ~i! of tr..\# Pt!of 8~r~; r12vt> t;oon c~.\Had .ana redeemoo s!ir;!! ~ t,.~·u1~f~r;-ec by the Esc:o\·-1 H0:04r to tri-E" CHl'-.aci.c~ of nmmc~~, a11d sheH be oepo.~!tcd by tne rnrecto; of Flri&n~ in tl"..fJ' l~b\ S·r.r!l-:ri Fund. ~CTiON 3.M. c,,t\t m' k~iJsne8 fund. TMra ~ htrttby ~~~ J ·fund to be l(nnvm ~a tne "C•~y 1..)1 Pelo Alfa Un!'t'~ld!!'i A.ver.l!e Area C1~-St~t P~~~Jng A~-nent Olstnct COSt D! les~a~~!.._;~ fund" [H~e 9(";0st of iss;.;af:ce f-'\<nG'l wM~h ti~ Ory hereby OOYC?.f':~ri~~ u~d ~W~ ~c cau~ tc, be-;n.-ain:air.ar.: arid whir ... --; ~h-e.!! ~2 he-5c ;;; tn~ by ths D!r-ecMir cf fim1;1i".;.e~ ~,-~ mQ,i1'E')~ it? th!3 C'Y3t or l~uafica Fu~,;_:; snail ~;s :.ised i:'l H~£; men.~~ ~ra-v!d!id by fa~ oo-'?~r f:-;r ~hu p;.;rp~ o'i th~ p.ayrn~:-1t 1A C\.::att c1 !ss~er.cc upcn rt.'-cdpt by '{;·1e G~9dor a: flris"lct 01 ~r~q,1.;~irh>f'1S of t~~ City thet~f~r, ~n N &ft~~ the t-.t-~11g Date. t•.li'f ~unde f~~ir.htg i:1 the C{~~ ot !M·.rn~"':'.>v ?=t.md c-r -Ju~:'· ·1. ~ 960, .V;~H be trr~nsf aif@IJ ti:~ t~e rroJ&e! F~t:id. I i I I I ij~~.,.. ~AV~~ FIJ~O A~ ~W\ti)JU. tiS~c~rr .~~~~-i.?-.l''i~ MC1'!1~ ~.J;<:. Dabi ~k~ e:t.'00. 1·ht:tf':! ~ t1efeG-y r;1i:et&C s ~>ecJ.llli for:fl io C-!; k"lown 1$1& ~oo '~i. / o1 ;:>::Jc A!to Uoh.al!ity Av~i..~ A•·ea tlrt-Street P~~ti0·19 ~( ~~ D~A Servi~~ F~ni:s-' {t~ "o.tbt &r-..·•c.z ;:i.:nd"i. Any :!.CC"~ if?'~~_. me-~~~ c:.n tt"~ ~~ of !h'f!i Sv;'d5. tt.<Q~th('r with c:.n &mct!rn !'&,"Jresf;i;•i1ng t;Bi'tt1:1100 ~~-&..')~~he ~~1t:d in tr.~ Di:i'.J~ ~'~" i'--JF'd. A.r•"f r:r.ritribl-Jti-::''1S-•t)k:h ~~~ ix; irt.Si~ -:~-o.~ ~itrn! to tirr:'! ty the City. or wt-:lc~~ 11r~ rece+v~~ trom ott~, ~~)r ·U'l\~ m p~~·::-i\; ~~ ~cip«O cf arld intf'i~ o.":: tl'te Si.;-;di;;;, ~~C1:! b& pleosd i 1 !he Debt. ~.A Furi(J. Tha Olr.ecto; Cl1 Ana;~CJ ~II ~ h': t.~ ~ &!-"'¥k;s F•..ind. ~$ r:ttceived, tht- proc~ 01 iil~i Arrru~I ~~! ~ti ~ for t~-t pa1rr.&n~ o! thtt r ... ;nd~al ~~ ~;-:d krt~\li'it tr.: tn~ 5(;;:..~. ari }ll"'m-~ ~n ~r: ~.~ t;.·;;w-:. ~<i~ t1.;; p;{.)~~~ vf AnruaJ flen8fit A~ltet~ ~ ilf· ~~ f'~ YWt: '~·-BC :!)r t~e pt:,...r11ant v' ~ ~'Md \nt~ (,,i;~ ':i:ti: f"r~ &tH~ which !\19 r~\'t:~ ~:t:.~ ~he (;insinij Dtl~tl- MQMy2 :r. tr.e r.~~ ~ ~\md ~~:; llff ~ iOO w!tt ora·.v~ by ti":~ D!red~ o'f Fina~ ~)' to par tr!•) ITTt~= ttt~ ~ ?'i~~~ {'<~.f~ ::;~,ig Fu~:.1 institlir~'1~s} &11d ~-m..-~ prerniLwn, ~ 4'n::1. ~ ffWs Soc'i$.. Ta~~. on Qr crtor to Miiroh i or ~...,...~s-..,.... 1 "".-Ml'-'~'"'" ""''""hir u:-;~ .-.=· · io..,...,.. .. ,_ ~·~ ,..,._,._~-.-4.!..-... t•·u. r-...f~?LZ ,..,1f M,.,....._~._ ~;..u:.,f~.l'tif! t;i;i ~', ~ -•4-. ?'711. ..... "W' .. ~ ..... -. ... ("1 l:N'I~ ~c ~~CM:ftr~""b' .. r~ U1 ~t.:..,oi:~ "-"'• rR~~~ ~; ~to t~ P~;q ~"lt fi~ t~ CestJt Ser-~ r~ \?"3 amwnr.;;: r'~~ ti:. pg.y b"Ch Im••· ptlnd~ ~~i.ld~~~ ~;~-f~~ l~~iBi and~~;~~~. th.Ill Si."\tl:~ng F~ t~~.~~ ~l ~ pakl tc ttm F~}'·;tr~ A;;;ent rra-m the~ &;<."¥i!Xt ~t.md. ITT ~ st ~ :twt1 (30} :i~w prior t~ uw d~t" 0i1 whk:;t\ t..s~ Sin~~'!9 Fw\fJ !nst~~t !$ oue .no p~;~ pu~nt \O $3({~1 ;-.~l>). ll.r1y mo-,1~ rm-Mt~f,lfig tr~ !m¥ !~N ~~ Fum: i~~-f.i' P!tY~~!! ~t ~~,,;;~e; f~iding S:nkir'1i fi..4'~ ~=~~) ~·~ a~ ~~~~·m ~ ~h6 ~ .. df.. ~1 t~ ~. ~~ ~~-1 ~~en~ :-tt~r. t~ tl'~~~:d Q\.~ rA ~~ t~~t Ser~1._.~ runn !;~ ~ b mB't~iW"4:riC8 "'~ ~hG o~, ... ~~w. pa~,; t~m'l$ ~~ wnt'I H~ p~t:~-::&?.-~ ~;f m~ ~ r;-.~ C'-J'tt1 0111$ r~w ~na r~M t~ ms~.t 1rtcnu.ci ~ ~hif!' ~~k.-~~c a~~ enti ~r'.wt.ier~ trnm ii\~~ f\b""tt$6 !.'1f r~10rnJ~ !~ ~~~e ~ S~.f{J~ f.t;H.;J, SEC~ 4..o:t ~ ~"'nt. Toore 13 hefooy ~&;~i~, e$ M ~~ witnin tne DQtrt S!fvi~ ~und cf tMi Clt)', t~ "\~ty ::lf Psk.1 Mo unN-Otilt)' /\Ys.m'.Je ~ Off-S'treet P~mg /'t~ ~ik'.! ~vnpttor. ~nt" (thP. "'f<Gt~"r;rtiOn Acc-.)orrt•1. ~~!en st-~ ~ t~{~ ~ Ult' t)t-:d¢f~ of Finarn:::ti ~ a ~rat€ 11~-nt. -=-~~""j fl'O;T. eii GU.a i~ {'f ~i~ Qfy. T~ ~iort ~urn t_~aij ~ ~~~emd ~P.ti ~~~~'~t1 mad-a in ti°'e r,.nnntM X:1 furth Jn Sectto;. ~.m !'l(t:r~!'f!. §CTIQt~ ~. A~mh·~~~~ ~ ~""m~ f~m7l ~~~-~~ ~~ Tr~ ~--npfa::.--t~ 1'.cca-""Jm fSh~N be t~J oy ~ 01~:c.tx er Firmn~ io pG}o fe» tM Pi1tX ~t!o~ of ttm H0ti:JI. i J .. I I P..11y 1uniJ3 !eg1-t!:y ,?,·;ailAh~G: theref:,r may, ~·~ af1y ~i·lM CP or .sf-ter S·;;p1e:nb9' 1, ~%'Y, .s.'\ !:1i:: opt!on !;f ti1f' Cit;.. ;:lr'IC any R')i'd ~>roc*dc. tG' tic i.1fi~043itec in th~ P.c.:~1~rnpt:u11 A~co11m pu1sva,~i. ti.) e C~rt!f!c.:;aie 0·1 !h-s Cltv iHed with ~rie Director or fi;;c~~C~ pur~u~n! t•J Sectiun 3.02 Sh!'\!!, he OF.i:i tn t~.:s O:rcctor of tlmrnc~ fo de~~ii. !f"! tr.~ R~!~m!:'titln Account and spoiico~i-~1: t~~ t;:~-: prior re.rieinption o! Bo;;ds . .SEC"!'IC:M ~.~. lr,..,~une.-1 C'f fut"'"1f.tl$ \~':!ilZfS: hl the Pro.lea Fund. ths CQst of iss~~fl~ Fund and thg Deb~ Sar1ic1? Fun1~ ~ay te i~·1ost(:-'d ir1 Authorized investments. m;tur.ng o:-i a dat~ 01 dat~ pr:or to H~e d&ifi 01 date-s or~ which such mt'•1ays are: "1~'\l:Ject~ t!> b~ required. Subject tc Sectk!"• 5.04, l:iny income or lr.t~est '~hsr~n s.iinil ~ccrue to 3.nd b-9 depcsit:~ 1ii the fund from w:1:cti said monnys ware !f'Vetl"""J. SECTK>N 4.M,. ;l.nnm?.~ ®th'\O'ni A&>~m&«\s;. Annuany. the Dkectc~ 1'.A Fir-dr-•.'S st~all prepar~ ~ budg~. ~e nrc~iJtti ir; the 8or;d LRw, wh~Cf'1 sriail tnciude. in ,;~.:h:.ili:i<)!1 to ~ny oth~,;~ :=Hn:i1..111ts r~~uir,J<i by I.he 8ur•d iAw, :ltateri"'l.1.mtsi oi: {a) th~ !"10rrtr:¥~: fr;q;,;r~.J..i 1o:-~~ie µayment of tha p;dr!cipat {ln~~-::~m;; Sirtkiri~ Fund ;~.;t!ir~~~ta.} «)f ~:md i:!t~'!'r~~ o~ the B1.'1i"d9, 4"'1 i:'.ff/ pr-am~ms r'!.'G:Jlt~~'! fo< tt·;e can tht.;iwt (u~ the ~un<J.s li*Aitr?at.:.ri ti::; b:?' ava!!e.i>le. nt tM an-rt of tN! Psc..c£.i \'s.a1 fo; ihs purpc~ pm'lklGd ;!'e c!t.\:.:S~ (~}: (c) a!iy anx1unt which wm i.Je ml!da avaHsbla from ed~tt~:,;r:~! COi"!trib-=Jtiona, whleh e!'la:i 06 budg~ed ~nti nppropriat~d for tne p1.irpoM i::;)vioM iri !:ieix;:::.• ~a}: a;;d (dl tt;e b?:i(;;nr.:2. ;i ;:-:y, ~mi¢" !s to be raised b'.~· the A..llnua; Bemtm A~~. The amvunt pro\f!ded m c!a!~"e {d}. i~~1-(! o:-ov~o!':.& fOJ a~tidpated df:Mnqc.:encies, s.'la!! ba ra.~ ~) a1i P.nmJal S~nt A~--rr./'6<~ basoo oo the f~-mula or fcnn·..1lae determLW!OO pt..~a~ to the ~Mk.in tJf im~tioo. :ind th-a prac.~~ thsr&' •. md'3r dul11 ~ and re~E:n, ~:-.0 $hail b$ fEMOC:, 0nteroo Bnd cv~i~s~ t~3thw with. &r-0 nm ooparste 'fmrri. generz! C~0.j tax&, arn:i h...~fOi~ in i~ MH'l~ ~11annm !!i'<J ~ \t~f; sai'ne pe•oon!; e.nr.! at ti".e rum~ ·1;rr;e. a~d wnn !tfJ sa:na ~19lt!oo and inter~, <l~ ~I'?. ~ • f ,...:+u .. ~ ~" • t' N t · ' 'l-·~· . • Q ... ~er .a;<es or •_.,a1 fm~es. Ehr.4 ~ ;swa ~pnca..,.e c r~iS ra~. co:.u...\:ori an~"! er.f~rcemsnt oi tsu:~ for City pvr pt~ 8flfiJ ~~bie to the .t;.onua: Booef!t .A~nf:-t~ levy. and the ~sse.'5&-oo real ;:>ro9arty. ff~ fo1 taxn, silaH oo subject tu redsmp~ion m ths sam9 manrl& as such real p•Lp$IT',: Is r:ed$n:OO from this ~le fof ge,;:~i!)(a~ City ~~ .and if ii>...;' '~~~r~ i::.i1c) in !ike maniler p8!>3 ~o 1he ptlfc!"i~. P,r.i C!)fltribut!on or pledge v..hid1 thi;:. c:ty snail h~h·~ mede ;1s pr•.YJ!ded i:'et:'1n ~nan no~ c.onstitvte a !imitatkin upon th~ r.:1wttf a.rte duty ::~ tht-< Go!;nci! to levy of ~itlci Annual Ba1i•:?fli l\JS~~nts IT: 811101.mts ~'fflcient t:> pay thia plinc~pal {inciu-iln~ S~kJn~ Fund l•'iS~~Hrner,t"} of, pr~!um, if snv, end WAi&S\ O.."'! th~ Bends. which Anrwe! 8~f!t A~~~ents are hmooy d&:::.'.Med tn :.-:i: tm.ilm:1t<d na t(! rat~ and amot..nt, ar'l.::i t~ .. ".'i:.rties as to wt:lt.~h ar$ '1t')SCk,1~. -21- I I I I 8£CTiON 4.06. Advanc.aa from-AnHa~fe SUrplus Fm'!dz. in the f:w9r.t c.f a deUr.qu3(!()' !n the pflymen~ o! any !1'!StR;l:Ti~.mt <Jf the Ar.nual Ber;efit Assessr!'ie~t itivred tor too psymsm o-! the Grlilclpa! ot a.,~ interest or. the BonC:s. the City, in tr.~ ~b$enc~ 0f any c,,:hsr ~c0. shall oo the fJiffthhZ--&r o; def!nQusnt prupc+ny Ll~'Oi'i wnich any oi 3t".ld A&S96Slll'91~ etr'? levied :r: i•:\t: marme1 in which rt becomes, or m~y become. ti1e purnhBRer of proP'3rt)I r:·-;id ;c-r the rnm.,ayr.umt cf general C~, tf{xas, and sha!I pay and transfer from Availabl~ S:;rplus ::~rids into ttlP. Debt Ssrvice F:.md the amoun~ ot any d91inq-Jent aSdeSSmerrt installff'~mt arid in~srest the<eorl. The City shal! also pay ar.d transfer f;0m .A_vai!ablP. S1Jrp!us F~ficts into the Debt Seri.:ice Fund th~ amoul"!t ~,f flt.y future oclinquent a~ment anc interest thereon on such property pe,1dir.g r memptio11. Ar:y amounts so l:i~van'..-eci s!iaH be recoverable upon sale or redemption of thCl pro?o?.rty- GECTJON 4.01. Covsnant to FarM.-lu~. lf the anrruai a!Jdit ot thE Cttf "l books required by lc.iw .1iSt:.lo~ d~inquM~es in the pa~lT.eot of AnniUl.i ~ Asses:~rnems :n an:» Fi~!::ai Year sn ex08S3 of the amount allowed for pc-ss!b~ ~nQll&flcles Jr. establishin(j the rate of aG-~ma."lt for that Fiscal Yeai. the Gity herOCy-CO'l~i&nts wr.J1 the Bc!'ldowners that It wa~ ord~ ~nd r.a~ to be oomrneoced and dlflgently prrasect.Jt&_i to completion, court fore-c:osure p1·oc~!r:g.s upon tha lien of m1 and sU A.v•~I Sana~ ~merits and lnt9re5t wnt~""; ars cie;mQuen! for th8t F~i 'f~r. Suct1 ~ proceedings shall ~~ c-"Jmmenced withi:1 ro day& fcllc;w;ng receipt of the audit i)y ~ D!rector o: Fifla1'1::..:e. -~- ~JrriClE 'J SECTIOM &.O~, Punetu&I i'ay~mt; C0t~pua~~ce W~ ~ooumorm.. The Cey tlhall pu;rciually pay or cauae tri ~ paid the intert:~t sm1 principo! tc be\..~rne dus 'iltii:t- :-espttet to a!l of the Bonds tn 8\rtr.t COl'lformi1y w;~h th6 te:ms of the Bonds .&nd of thi$ ~h.rtion, ar.d wU: ~.a!thfuUy o~r. .. ;e aw.s perform e;il oi t~e con.:.mlons, CO\lenams aod requl~+ts of ~hia Atse:~lo;-o an~ a~I Supp~menta! Rer::olutions. SEC'flON 5.02. t-1~ ,rlonty for AddlU:Pnsl ObU{&Ut!ot'f~ Tha City covenants ttiat no a!JdiUonal boncb\ or oth9f o~!QaU·:;~-1t; shai! be ~ O"' kt.:;~_'!7'"'° n~-..~r.J llcy priority ovt:Y. the Bonds in payment of prln:.:ipsl or inter• out of the Ann~J 8¢<"l~fit A&s&ssr;ients. NoU1in~ lr? th!! RasoSutlc--n #t'i-Sfo pmf-.lt!!'~ Of impair th~ autt~rti:y m tM City to issue bonds or o~har \-m:1gatioM ~~<roo by al"\~l D~ifible from Ann~;~I 8-Nlefit A~1eri\:& "'-~ich are Gr, :-:: pa~ w!lh or ti.i;oordk-~te t_n tr:9 Sends. 1Jpon tuch terms end in b'Jt)h pr!nciptJ! sMoums E'S t»e C~y 1113y determi0£. S-!CTI-0~ ~.(::3-, ~ A~~~-'!. 11'!~ C:ity ~~Ii ~•)t !fl!!.:~. rt4Ji p~H: ttt:r suffr.Jf tfl' rt~ i:a~er.. S.1)" .em~n wtt" r~t io Hie proe&e{JS f'f any c-f th~ Bcmdil which W\;i.!ld ca~.e d!W of tM Bora t~J he 'arnttrag.;,. tionda" wlth;~ the 1i1et:u~l11g nf t!ttt Tax C'-010. (a) ~jgfilk;;n ~O ~~t'f~ ~£~ ir1y_,fstmerl~ ~-i='~fl~-rt~ ~~er. m flM~ shaH calCYurte or ceuse to:i Lo ceirn;!moo ttis 8t~-lflv~mer.t. EAmings ~~~~ nr ~~ (&} 0-l t(-~ def:n!tion tt°iSIOOf at ths ttmes .and tr. ~M l'fEfl!"!f'CC#f '6Ql~ µt:O'':'Ki:mt to ~ ~~e ~~wre;r;am.~ ct the Tax Cooe and ~i'°'e Tax ~l~!;.-J~. (b) ~~i\t:-t~~ ~~b::t~ F~~eb3t'..< to _Unitag S'gt~. Ths aii·&etor m FV.ar-,ce tlt'1:1il ~ &nc t-,i;-i~ ~ ~"')t.OOf fund to ~ knt1vm as tM Hebi't~ a::u:xi ~rat@ and epart frJm ~ ~ 1tm•js r~1j a~mm estattll3t\~ h-~r~. Fol!aw1ng ttl£ r..s.~~n by the ~')I" ot f i!:ldW ... '£ f:,t ~~-"1 ~t cf &~ irw~t00t Earnings at any Hme i.:n.s:t•.uam tc t!w ore-r.,edh-'g s;..:t:aectkm (~}. th~ D!:·ector of Ana.~ shaif .~ W. ~~ f;ebAt& Fund en smoo:"lt equal to t!te et..'.:~.1u:a~iv" 8-t~ l:i'l'~ment E&mt~ f!f ai;y~ ~~the prior d!m:iiW't~o~-.. to th-9 Uoofftj etat'=-& 9TJrt~nt to th!i> $\."bsaction th). The City ena:t PB!+' !mm tt1£ ~s-Fl.lnd :111 ~mo:.mt -sq'-!!'il! to 8tess$ i~rn0m t':!r~~ln~s to t~ Unrted &.at~ or Amei~ fr. ir~~tsJkr:--;~1~s ut ?,:;_;er, ~~rr~ 300 fn ~· amuunts a~ ~ be ~r.sd ormr the Ta.;< ""''~j~ ~i·K~ F1i:? r 2K ~:!~~~~. _ -?§]'fTI~t-ta- tt!s lJnlffid Sb1teis of Arrr'lrlc.-~ sAfi!.t ~ mud~ to u~~ admess 91~~::::--r!b>.Jd t-;i <he T~~ Reg!Aa.tio;-t5, togeth~ ·l:rl'th &Uch f@pel"'O &N:t ~~ta, Cfft.7;J:i:\.(...ci t:v too Cit-;, .:::s m-.;.:t b$ Pf95C~ed by the Ta"< R9g~.'!t11ti0n;. fr: ~ e>JM~ tta;t a:nt:a;nts on .1cpos~t in tr1{:1 ~til Fend a.re il!5ufflc1sm ~<I m~kA _;;.r.y Pttl<Tioot to ·u~ Cil;~~ &.Stt~ ~i ~~~ ;squ!rGd fJ'.Jff" ... ~m~~ to th!t ~i'~!nn fb}, f.t"ie Cit} snaa ms!t.~ ooch pe~i~i~ wh'¥l ~-<a tl@reutidcr, !r~'T! 8t:)' h~~ wmch ~f'8 !awft..~I)' §.'Jt'J!a.~ fa~ S(.jcii ~~J:,W. I I I ever.t thiit fl.lon;::>urpose !r\11estrnant3 cor.:sist of ct2'rtificaies o1 oepOfo>i~ or li1v~trr!ent com:r;i ~s. !nve~ment :n suci1 No:i;::.urpe>ffe lnveei:mer.t~ sr.11il be rn::id!!. i!"l cJ.ccort]£i1C9 ....,it~ ,t;e P•vcrou;-ER'.: deac.rlbOO iri appilc.abia Tax R0gu!a·!!mrs as frvm t!m~ ~"' tirn~ !n effect {d} Mg~~nce oj P.ocoras, T!\e City shall keer !1r ctN~ to 1~ k:i::sp:, a··'J !"!?~~i~ or CRIJOO to ::,e ret&if!OO for a oonod of si~ (~) yGare for:ow!nQ th-: ret!re!Tler.t ~Jt iho ficr.IJs. rC:COrds of tt~ detennlr.atior.s made pura.Jant to tt"iis Section 5.04. (~) En~errt of Pmfes&onal Services. !n ordet to pmvioe k•<' t~~e a1mlnistrstlcn of thftJ Sect!on 5.04, the City may ;Jro·.;ije ~or t!ie 2mp:0:~·me1~t 01 f:idept;r:dMt attcrr.eys, accour.tants and 00nst.:itsnt~ CC!"?lper!satoo 011 S':..l~i: re<i.s.miab!e basis as the C;ty · 18/ dfKKr. appropriate. (f) MtY.Jtt!c:rtion of this Section. /1riy o1 ;:h,~ provisions of triiS Sedi<"m 5.04 rnay ne smoocied, mcdifie<i or defetf)"' !r1 any manner wh$soe11er by resi.:;lntivn of UlP. Cwr.cH. iJ'u~·icieo mat ~uch res1lution !s accompanied by an opinior; of Bor•c C~r!r•enl ~tntin~ thi:;t S::J:;h amendment, modificAtion or deletion w!ii 1i.')t ~,au~ int~r~~ on ·:tit: 81'.lntJe tc ~ 1nc:.: .. >dab~ l~ giross !r:corue of the Ov'1ers for froGt9: lr.001t13 tax pur,...,.,.,,-&:.s. {\l~ Trie-s Std1on St"laU apP4y ~njy !o Boiltis to wh~ch, !n th-2 f!pin~cr~ of 00!",0: C.:>l.::T"'6f. fl~ \",':'~ t!m City oo the ("Jc5:ing O~ts, thoe rebs:td ~.rov~5!on& of :Jm TH:-: ~l.b.r.ions apply. SECTKIN S.06. inft;,.rmati@fi R~rt T~e tt!YY:.tor of F!r.an~ ~ rn '-t->~··v ~-~(K;t~(;. to ~ the fili"G of ar. tntvrrrurt'tm ric-por.: ~er !!le Bor.oo. !:i compl!a~· wmt ~.:s~!i.;~~ 1~c) of the TNil Code. RCTION ft.00. Prlv8te BU&i~'i U&$ Um~UO('i. Not mer•) ti·;Gr<: t.en i~fC~Fi' n~ ... v: ee: l\!et Prc-c&sds ot t!i& 8~.moo sn21:1 t~ USt}-:::! \i1 6 ~ .... r;nr:u-r ')\\·/';\:;;;-;: ~nd~ '°)£M&~ ~~ ac~ t.u 00ccr~ ~Olivet~ ect!;11ty hone~" und~r <?.r.ci wiihin t{<~ ,-:,f,~ning of t.~cfam ;.~~f~: ~~ ~~ ·~ i~!). S:;;'GWH 5.01. ~ l~f! t~mrtlw-:. No~ mo:e tha-:·1 frvf! perc;mt {.fr%} t.ii t.h'7 ~$': Ft"t?~~; cf the Borf\~ aNill be L.~Q, G!r&ct!y or lndirectl;, t" moxe or iiti&;:O~ :; k:;!g,n {otf;-':lr H:~r. lo;;ao:~ c~autmg ~lorip-,;_ff~ Obi~etio;1& Ji 11~~r~m; ~.\.1 ~;.;;-1~-;;.,U> omc?r tnan ffi::lt~ ;y :oc$jl gcvsror.-ent m•!tr.. S!:C'riO~ I.US.. f~~l t,!uar~F~ ~n}h,futt&oo. 1'hA C~J '.MtEJ.t! nut ~:alt~ e11y <':ctiM ~r pe:-mlt .::r sumw srrt act~:ui ~'~ ~ t~i-~ !f tn~ rosu!t of ms sarr.o wm;i,J ~ to cth~ 8:1] rl: t~ Sc.r.ioo to b9 ·1~~;; guarame-ror: ~lt.1lr. the m$3n!n~ ot oo.-:ti~ 149\b} Ct ~~iC Ta¥ C~. SECT!ON 6.\J9. Sm11U ~t;~~ ~Ml!)tion f'/O'M knft W«~dwm:tu~m~ R~i:~km. T~?. C!ty :··srei.J;t de;i~li!Si; ft'w Hr,~wri\iemem non-Y.J {ln !h~ ~v>'mt tt~ ;;r9 so~C: ~D~~a~8~ f..>ucyulF~t ~fl Se.'Gi:~o~ Z.~i)"',;S) fer pu,poooe C' pa:ra~ra.pi·~ <31 ;:;f &eci:~., ~...ti\c} c.1 Hl'J (;..,')(,1E, ~nd ~Vi!it~n~ti th:~ the &:x~ CC r1c! a:.mst!t'-i;e ~-ii'la.te £-:.-~Mt)' !>on~ r;s ~~~ ~~ ~iOn Hi cf t~~ Cock1; a~·j th~t mo:-9 t~rt i10.C/JO,COO 8tJ\ii'f09~t~ prinop$; fAt~OOrtt {)f or~l-igatic11t; tht:i i."tte.riest oi1 wM~°' rs :t-~~ti.bl~ {Lirtdet ~~lc-r: i°";(al of t.-.e Ct-.d;l) from ~~c~ lr:cumi1 t,o:-!~.rei irt~--ntJ tax6' {~h.Jdir:g, tl':Jw~--~~r. r;r•v~~ actl~lt~ be!~. :ia d~f1noo !n ~t!i)n ·;4-; Cii ~~=&CO\...~, ot~ ~n c;us:i~J 501(;;;($} ~nos ~t'J. do!::lft~ed iii ~aciion 145 of the Co\:i~}. including \ha Barids, ha'!e been or shall be !liSuOO by ~r on ~~!~ c·i the n~r!ci, !riciudl:ig a1: suocrdir£'lte antit!es o~ the t;ff';. durir'g the col9fli:1&r t~r ~~. S~CT!OH 5.10. Fu~i5t· Mtic.1r~;n•..eor.. ThCl Cii.y wiil sdc-pt, mske. txw.;L"tO l\.'.':t~ deliver an}' and a!I sucn ~rth~ r~l~ioos, Instruments 3r1d assu!at~~~ as m~y be r~~n&u:1 1~ry er p~oper to cArry ol.1 tno lman~ioP nr :o iac!litt.ite the pert'orrrn.mr;e- o! thJs ~luHon, AOO for t;""tF: bfttter assuring al'16 cc:;flrming u;1!c the Owners of the &,:mdS the t.gh:s nod oonefitt pm·.,·i~ ~n tN$ Reaohr.:~.,. -25- ~RTl~LE Vi 8t!CTIO~ 0.01. Fu~da am:! A~ur.b. Ar.y ~tmd C\f account required by tl'li! t;c;soMK-tr !o h<: establishoo by the Direc;t.,r a'f flrum~ arid hela end maintained by tf:r: iY.r~'tor or Fir:anc~ :;r the F"ay::ig .. ~.ger.1 msy ee es;ab:i!."tt~d 1:1n1J j 11sir.!ained ;~ Ui3 ~\.'.«:·~.mii'lg r;;;.:;;:.•dit ~f t~ Dirf':.rtor f'."Jf Fina<1r~ er th\? Pe·;inq Agent 9ither El.~ ~ funci or d!l .G01X'~ni, and m:;y, tc.:-the purpos**' !')f ~u~t; j"eco; a, e1-;y i.i..•dit3 thareof and 2r:y rer;t>.J!'ts r,-r ~~l1;mei1ta w!H1 r~~~t !!:ermo. te treated eit~er &s a fund oi 3r, uc~ount.; b• ... 1 a!I 3u~'i r&;~.rJs Y\itn r~~ 10 ~I! ~<..:ct: futioo and accounta snail at aH !im~--s be maintai~ !n J.CCC'rd2r.~ w:tn sou~1j a~·X.'\.li:t!~g p-:1<ctices and with d:.10 regard f o( ttm pmtection of the &.ieurrty of tlie &~n~ ;:;!!n:J the r1Qht~ 0f every holder th~;-90~. SJEC!l!l~ 6.02. FertMi; hwaildtty. lt a~y one or more of t'1~ c:-:vanants or e9re~:;i~:1ts. or pcitlons iiH~r~~. ~O'll.:led to this ~.Jhrticn to 1'11:; perlormP.d on the part {J~ ~n~ .:'.';H:y. ti'~ Council o: the Paying Agant $hcu!d bf'i c.~.m~u;ry tt> lsw, then auch C-'-r~.cnmrt or covenantt:'. such ag.~t or a<Qr"6rr.Mta, er sue!'! p.o!'tions there<if, sh&ii b-9 r;i..!!! tmd vo;ti :um sh.a1i iJe ~nse ~ar:'CY.-e fto!:"l ti"15 1£rr;12~ni:19 cov~aants *Ind SfiraE:m~t$ i>r po;tv.;oo !h~re.of $net ~hall ~r. no w~y aff$;t ~ vu!id~· of t~11s Resolution or €.)f the-Bonds; l:i:..1 the Son~~~1le!'S ~"!all :t4f!i;-i oii i:h-~ r:s.111ts and t>ooeffls m .. 'CC>fd9d to them ~ . .md~;· ;ipolicsbi1-; t:H"O~"flS o! law. ;t;~ C)u:"icil nereb\' di':ci~fas ~hdt It wcu'd ~ ~p'l.f':lci ~t.:s n'IJ!Ult.-t!c.:i a~d ,,JQd.¥ ;',!:id t.~Ve('.( !)!!°!&' S~ian. pa1agrr:;.~:t1, t.Aftdl;;isk>n. S$tt~~1ca, ciaf.h.S and p~ hereot. .:.:1d 1C,;;:.ttd fis"e amn-:i:-,zad ttie i&."!.lanc~ of tha ~~r.os purwant h&·~o. ~ti•·~ ot !h.;s fact that 9.::y one •)f mtlre ~. parerf.~!3. ~iv~io~. sem~. c~UStJ$ Of pn.-a~. of this R~iu1 !t.m o• ~~ app~.on t~oof. to 1:my ~~n er ,-;!rcumt;Un!;$ rriey t-e hetd to be um:onstauticn~; ~i"\Mftl'foeab!s or lr.vc:l!d. SECTION 5.00. !:~~n.ze. 'nie Bondo sha!i no '°'"'-:er ba d~,..,~1 to 1 .• ~ out~ .. tdtn~ aOt! u~p::l~d !i tf:s Ctty shall 11~~r: made !J~U8te ~(·\~r. fol too pa~t. in ~-i~ wtth th~ Bond's end th:S ~~. o~ tn~ prl~cipa1, inter4* a' >6 p~lu~. ff ac-.-1. to becom& dus tt'.urOOi'l st m9t"'1'1ty ~ ~a un and redMiptk.t.fl p· kir to rr:&tu.otty. S~rch pro~ $ha~ be deerr.~~ ~o be ~.13 ff th6 Cot .. mcH sh~~:. un ~hsff of ms Ot$trlci. M•e K'ra':X!!btf t5&t a~, ~ &. ~P~«~ t!"'~ tr..md er acx.cur.!:, ~ or ~ai Soct•rftiae wtd~ ~ 30ded to t~ imEresi: ef.!med or tr. oo -aitMirl1 thareon Y.hftft be sufftcfft.'1t to YAAi-e f~!\'! ~'.i':.?~~ as they beoof118 due &rh..1 to redi...~rn ~my 6'-."fids Outstan®lg on tt.ei eP1hml ~~~it-~ ~ 001\e. $£COON &.04. ~ o~· ~t ~na. Any resniution 0¥ H:~ Cot:r;~i. ar.d acy o;rt of ~ucii r~. ir~em w~tt this Reeo11...itio11, is n'1r~I)· rapeeled '<o the axte..-:t of SHCh ir.ronsistency. · SECTION 5.00. Efff'~~H' Di!UJ tl-f t!'lte Aachrtlon. This Rttso:•..eiicr. ~.a.'! b6r;c;-n~ · effectlv9 upor1 th0 dat~ 01 <l.s >idoptior!. TH!; FOREuOU!~ MSOUm!l~ was d~iy sno regu!&rly .i:1dop~ed a! m&;;iting of ~he (>.)•Jncn of the City 01 Pn!o Arto helG 0~1 thip. 2 7 ~~er , ~9W. by the fo!iowir.~ vQ\_o: Klein,, n~+; +.,,...,....; ....__ .. ·----· ... ( 'Co>'I .,c. 1 .,. .. _ ... _.._ __ ,,, r-.OES: None ABSTENTIONS: None ABS[Nl: Fletcher I r.e'\i"'}' AfTEST: A?PAOVED AS TO FOAM; .,.tQNES HALL HitL & WHITE, ,., Pmiessior.o?.~ •_aw C~k>n ay ----~----K'90'1Qth i. J-t.in~, r'r~dent 8o'i'id Cou~ -~7- I I NO., __ _ rORM OF 50ND UNITr:C er~; rEs c~ ,ii.~~f R!CA STATZ: OF Ci4.UFO'R"IA COUNTY Or S:\NT.4:\ CU.RA. C!TY OF PALO ~L TO UNIVERSITV AY£HLJf P.REA OFF"""~'frP.EET FAAKaNG ASSSlSM!!NT OISTA~Ci' 1989 ~EFUNOiNG AND tMPROVEMEt~'f tlONL (LOT J REFUNDING AND 250 UNIVEP..srrY AVENUE ACQU~TIO)(} JNTERESL RA TE -_ AEGISTEAEO OWNER: PRINCIPAL AMol.JNT: tmtJar ~ by virtue of ~K>tt 13. ~6.1~0 {BcmC F"l9tl tj) ood SOOtloM 13. tfs. "7ll ind 1_3.J8. 180 of (}hapter 13~-;6 !)f Trt~ ~3 of the Faro AJto ~uruc·~ Code {the rC>~"), t\00 ~ 9 {~ffQ""OOftr!r.g with ~if.>r. t~ !ii1d Articie 1 ~ ;oo~ 'RWl ~ 5'.,~ fY. ~h..'1~8 3 Of FC'A1: 1 of ~\·!~C'f'I ~ Ci !lt~ '~ Q~ tf'!e &~err~t W~ 6t ~ S!Qt.e .-_ i~~. the .. &~ tew"). \tle Cit;-ot ~~ki J;.jt~ {1he "Cit}/.~ ;ti~"Y-~ CC:ft'Ofatioo ... .,~~ ~-~......... t ..... -.. .... • c: ...... :-~-. ...i "''°'~ ~__f~ uOOM a m1:•11aP.."NaS~ C-~ehet m_uR< ~~mv C, ,_,gnt.; ~'~~~ ~-~•-.- igf ?M-~y .1'vanue Ar" Of1-B!:~r P;;_l'~l~tJ ~~ Dr6.~ ~ "'.~"}~ b' v~·~ed wm (!llUn;ed. to any r!<;M cf p·)o; rodem~tlon ~~ti'·pr~::l fer), on ~ Matli(itt .09\e ~ soove, ~'1 le tht:i ~~ ~+mr ii~~ -tMlffl, 01 t&-'J$t~ astgi"tf5.. Uh$ ·ewr.~"-}, ths Prtnt~i ft~ ~GJ"J ~~ g,_ ~ ~ ot uie u~oo States _o't A.~. ~d pa) !nt&f"&!~ ~ t.., Hkc iawM metl9y from ttte tr.tere:at f"'cAy'm6m Date {86 t:~~~atter de:~ ;-~m: ~irig tt~ GJi:~-uf $tdhMt~ ~f tNa i3oc1d Wr~ {I) ths Bcriti: ~ ,'!i1.f'J°~.,1tif'%-~ ~-an lnteroot Pa~ D~tu, In whiOO ia-1'Jt!t rt ~~ t~Jru": i<rt&-~ ~mm such o&tti -m aurt19nt~t~. m (i!i thl~ ~ lit a1;i:~~oo ¢.-;;r tc ~~tambQ ~, 19SO, itl wi~~ elt'Mt It -shsl: bear int~ from t~ ~Ja!ild Date &t&te!:~ ~OOV"'}• f;ft)'t~. hot~0'-M• -ts1nt If m th& tiff:.~ r,f iiluth~ cit tlisa acr~. mt~~-~., deh1u!t-«.this E~~..:. ~~-San<t mti tl$lr tnt0t• irom-~ ~er• Pa~ OMt6 b wh~h ~$l'~ ha$ ~~·e'*'.iV~.iSJy ~. ~1 or JAA~ •~hie fr,r ~~~ on~· ~£1 unt! p~vment u:_~\.~1_ PrlrJ<:4f)~1~-t..in:;.im{ In f..at, ·m-~_ M~a.i ~& ~ snow-T! ~fi~ed ~bcW). pavsbkt {m Ma~ch 1 ime 5'~-;;~J;er 1 ifi ~ ~·, c~nmdrd~ - $6f~un--..t-eT 1. 1~ (~~:an t;ill!arF.$.t Pevrr~t Oat~'\ (;I;:~~ ·c:m ~ ~~·o-: z ~ rl~ -...ei,,_~ '""'~-~~~ ..... o~ +-.··~'· .... ~~--..,.;.-•1;.. Q..; ... ,..in,,-..• ~..,...,.,~ ... A--~·~....,.!,,,..-'4 ~~ --.·r:-.,.7 y~. ~··99-9··~ • 'n=--ir.-•.-~~ .·;,./J',p;,.3 ·~~·.,:\•~~. .. '~-~ci~• ~~~• ~~~~ ~...,...,....:J!~~~t. ... l:-:....,..·.,1 Oipoo· -~~~km ~i ~. ~ at t:ie ~~·~tte tn..~ o~_ Of ~*f:-3 T~ A-1 •. I j I I I I i I I I .I : ~ "i I I ' ' I _I 1 ·1 1 1 . ·~ -'! --I _j -i i CompBrr; cf G~!iicm;E.;. N~~! ,t\.$800~tll)~ ~e •l:'>tt):ir~~~ Ag.-mt"·), in Sar F~rx:tacv. (".;&!i:orrna. lnte•§t ~:'9"-'l' fITTd:~!~C t~ tin~i ~liri'~~ 0~~1rn..:mt: url(m rN.ttur~ er ~a1Her r.Jd~~tloo} !'$ v{!'ifl!ltlts ('"'J ..:~CJ< dr.~n c~: tr.a ~;1:r~ .\~~...,~ m;:..i~~ to the Owl"?S! at tto~ Ow-ilW''! ~-ddf~ as ~i ~ t)'(; t.t.a ~ra?icn tic;.~J r:i@i:n~iGed b)' f-ift Paying Agent as of ~ ck1lle oi b·JU\Ma oo "'M tm~ti ~15lh} ~Y 4lf th~ month next pr&eeding !itie.'"i !m8f88t 1-l~1"t ™t,)j; rx ~ ~ oth¥ aw~ as i~ O.....n.e! m91 ha\>¢ Ned with ~:o Paying Agent fof tt~ p-~. '"'1iia ~ ii ~~ ~ • duty -~11:~ I~ Ct ~.c~1'! of ~ha Cit;r ~~..sttd •ett)' o! Pat:} Alto uni-'~ AVClmta ~ 0<1-&reat P&ffi.trty A~-r.~m D:s"..ri<rt 198S R9~ a=-!id m'IJ>rtr~ s~ (Ld J ~ a.~ ~ Uillv~!" . .\Wf.l~ ~f' t~ .. ~,,. m M ~~sqtJt& ~1i!~..;ip~1 ,.~,Y.r~-it of --~ ~~ {:; ~ • .liH 0: l!kE t~· Snd :iate ~~1M'i· to ~pro\~~~ ~t ~ ~-r.d-C.;;-~~j~U.nt ~ ~~ohrtioo ~~;. .trl' U1~ t~~;cit_, ~-:At , ~~ •. ~ illm~i~ct ;t~ ~:utt-Jn"). a:_~\2:3t~ ~ ~~~ '11 \..~ a&;--:;;11efan;rn)! !A ~~ m~de to th'! Roootution {~ of ~~ ete o.r fl~ ~t 1M o~ Qf ''~ r.;.!cy Cl~ r:m-.f t~ eumi l~ for s d~cd~ t'l ~ t~ ..,rt ~~ ~ Br.Jnd5 ,3(9 ~ srid too ri~~t~t tt"$'(nJr~~ c1 t~ OWnet'S t'tS the Bo,~ i:w.J !:~ ~. ~ ~ ~.~~,.;..~ ot ~ ~~~~ Ag&.·~t ~ · the ~f\ ilnd ~~t$ u~ t,.~ ~Y t~e:undef. to iii! ·Ji -&-~ pr-~"'~ tl ~~ ~'oti th&~ d.~>t<-~~. by ~~f>,-~ ~. ~ ;lM ~~ ."r'h• ~~ h.--. ,..,,..._~ -~.;...,,.-1:----.,., __ r~!+,.,,-JW<t_ ....,, ~.~~ nt -~ ~~ ~ ~ J.,_..._. ~I""~ .. .WT~ -...~:r. ~ . ...,.,.. . ..._...,. . .i~ ..,....__~ ._ .... """'"T.U.c~ .. s. v,. ... ., ... ...,.. -.~ ._ . .,, ... ,,,,. • ..._...._ ~~of ci> r~ • ~)f-~~--~~~~ uci-.m:-;r F .. ~ l~x JP!'~ ~-a~ ~ Dil:rict ~ m -.K:-imd iii} ~~..r~ ~ ~ -!'ji ~~"'titm t~ tt"i$ ~ u ~in b .. ~.IDf\ ~~ ~ ~-.-:.f -~ ~ ~~~ ~fn~~lt~ .... . ~•tr<"e '('" -~.-r.-1:;-~ ... ~~.!"l!:'." rn "t"l.lf; ~ dl.?"~ ~"l',,.."M)""-"-~ nr 71.1!~· Q.--<&.;'o .......-t.;n~...._,c '"2 ., C.rr-D1' 1ft..~ v a<-:-~~:. ~ ~ • ,.._.. -.rq.~ i.J ~re'·~ ... J~~ SET FOforr'ri ON THE Rt\IE~ ~-!E:RE-Of, ~fCH ft~R ~$.~OF n-!t.~ ~ SH>.U ... FCH -~..u. ~')er:s, MAVE !HE '·""~ f;~"ECT AS'W SET fOR!H. IN -. THt$ Pi.ACE. - •--~~~·~~-vfr~i~~~~~~a..r:d_~-~A!tD~,'ic ~ ~1 ut~-~~~~~t&S f;;i~m:-.;'jM~~~of·~~ do~ fiwe_ ~~~ (;{ ~ t;&.-n:~pmed ~ ;jla~~ ~.;_>.Wf ~~ ltm1 J!~-~--ny thtJ !swu ~ ~ee-~ of·t~ ~ii;~{~ \.~·~rt !}f ~ ~~: ~ - wftfi-al Gti"M ~~ "tit -~~ ~f >i< ?r..$: ~;*-~~ . ~ ~1'ft ·~~j -~~ g.~ - ~-~ ail·;' b:wa ~ t~-~~-~i ~:~;__ ~~-'2-f~1 kt i'l"C~ 01 tr~~ h11'1Xrt•t cl' - -~-~tta-~~~~ r~~t~~k~;..-_,- TNs ~~ ~~ rr.:tt·c~ ~ r:a-_,.,~~~tor it~~~ <ii"~ tn~ t~ th8 ~. m _Uttt P~Joo ih-:Ul-tf>b:_ ~$$--a4 ~-f.;:'o\J r~r~dGff ~~ W~_t;ew; ~ ~~ D'i M ~--~1>#0: ~~ ~--'F~~i!t. I I '.,;' '" ~N Wrrt-IESS WHEREOr. tM C~y "~ ?i:.iO Ac1:>, t· f~S Co!..mci:. ncs caused th~ Bo;Y.j ~o he a~ 111 rtt b@a!f o~ t~ b(...~~~1~ si¥i~;i)•vr~> of it~ M;1yor. ftfi-J Vif~;t~ of fin~.,a a.,d 00lt'1t.:-ral9>i-~1 t;y tho ia~mlf'3 S:~~r!t~e Of it~ C;h· c:c:-k, t~d t'as C~U~~ !ts Cify Cie:'k. tc aft~ ~heft:":to !n ill.'!~"'~~ lt~ 1.;orpoe"Jlt1) ~;.~1. ~.:! &:s cf __ -----·--· COUNTERSfGN~D: ii1u!J~r ~atu~~l --··- Ul.f&::lor of Firu1r;t:e ReGJSTRABLE A~JD PAYAS~E 6Y SP,N~J:-:?.$' ·rrnJST COMP~V Of CAUFORNIA NATiONAt. AS:::lfK"'.lATiON -- . .,, NO. __ FOAM OF BOND UNITED STATES OF AM£fiJCA ST AYE o;: CAUFOONil. COUN1'Y OF St~..ffA C!..A.RU. O~TY OF PA!.O Al TO UNtYEASrrY AVENUE AA.~1'. or:r:...,.~·f~~ia·r PARKiNG A~ENT Dit;TRICT 1989 REFUMDiNG BOND ~LOT J m;AJ~d)@NG) *---~-----~-- ~~~.r, .-txt ~ wwa er ~n ~a--1f!ir~.~ ·O} Sd..:aM~~ is.~~:~ro ood 1~1(1:,~SU of~ ~S.~:r,: iirb.13 gr_-~·-~·-~~~~~-@~ ~C'~"}. ~ A.1.~ &-(~~~ ~ ~ ~Jand ~lt;~~,.w!t-"'i ~ &.~*) o.f CMp;;GI ~of F:::r; f r\.lf Of;~"' i uf,.. £ 61 the_~~~~~~ ~1 tSVt ~a · ~~~~·11~ ~ Lffi~t, ~ Cftt r..t ~,~~/~ ~~M' v~~~ -~~.~,i;1~~(a ~~~~ Gt-~rt'5il' !!J t!"ef! ~.JUl*.i:!>.' &.~~ ~~~~~· ei ~-s. ~ ... ;...,;i.·;a;·:>~ A; i'l~ ..-v.L_~,....a.\-~-<i:h~ «...:..~~ l'U~~ ~#\ •~¥ . ~-~ 'ie"""'~"":Pll"l' ""'Yanf~ f-V~ VF''°9-'.(~ • ...,.,...,~ ~:::~~ .Lh:ii!ONik:~ -~lllA I• R.>t ~l~, ffli.~· d (~ t·:> ~~:/ ~~~~-t-r~ haieill~om\~ tur'Jc tm ~-:~·~-y tifttt ~1 ~~~:~ii _to ~ ~-~,·named ~a. ~ ~ ~ii!li. (ttt6 "~mlf1-~ ~'~ ~lr~lC-~ J'~~~i-.wt~ ~"f'-. In iawtul ~ of · ~ t.~ ~ea oi Arr~ z..-i.;.J pay tt·t!e-:.>.i!t ~«.m-in et;.e !3wfl!I ~-~ th!$ es~.-,.iclltt p.,~, r.~5'0 :-o~ i......~~.filU .:o~f:-n:W~ ~ ""'"~ ~ .-.~-MJ--........ ~.Y-i~4 6<j. ... v•.w.-:· ... _ a.1~ ... ,. ..... ----, ..... ..-:.~~ .... -.................. """-_...,, .. _,. .. ____ ~ -~ ... ,.. ~;;~""P-;;;~ .. ..., ~ 1-.--~ ~-"".~"' ~~"'"-:-.. _ o': tNff .etmd (Yf'tew fl} mie ~ w ~~~~Cd 0n an mt~ ~ta!'•~-~--~'-~ ~M ~ msi: bft( m~~ tl'OO~ ~~ -\tat11· cl ~ton. 0r a.1 tl1k ~ tG. ·tsuth$nt~~ p:..~Jaf ;·v ~em·ae· ~; ~:t ~1--~Nd', ~ It ~~ ~-k!tertJl!t tr~n th-& Oetod D!it~ t:ui~ ~'.ffl~ ~~~~jf)d~-~~-t.~ ii Et :hi• 'tiri~.Oi $'~ c;.f -~,t; Bornt h'ii~ t£ ·~ ~aillt o-,:., Hl~ rrondt ~-.. S0r5(l .Wfi ~ mt--NTI tn9_ h~t~eci P~)m&....,, ~:0 ni. wt~; mt~ t:.~~~ ~ pg1e·t.1t m91ie:~ fut~ oo tt;!s .Bond) \mta ?S~ (>I *--'dl ~°P}\moaJ;rt ~-~, ~ ~) ~$;{ R!rt* ~ annum !it&t~ ftbotr~-~ en ~:-;-.. -~~~ ~ kl eaatt·yetr. ~~~ S..crpt~ 1. 1QW ~ an "Im~-~~~. ~~"6~-i.td os1the~QI.ti3&r _ ~Y ~ur ~~~ o~ ~~YO~-~~>-:~ ~~ Md ~~-n. !1 ~tt'f, _ · --~-~, ~~t hef&Gf .~:fr~~~~;,~~~·~~ tr'fS :'J~ or aa:-1J:t;A Tn.~ - x.__ ·. ~ ·~~-.... M-MA-o:t . .'(~~-~ az.... ... .:...... A •'.!, " c.-~ ~·~ ~"'!:.~ .. ~ .·;;~.;·:~J\~-~i~~:-r~,..~~ 9f>i11t• Ut ~ilT't-~- ---;. . . . . . --. . . . ·--_ ·:...··:_··:'"':·4,..:· -~"-·,'' --. . _--.= -. • . .. :. ~ ·-. -· -. ~ . .....;.-. Jtf~~.:·~~~~~,-~ --.. ~ . : "_ -~,~-: . CeMomls. !merest t,ereori (ii t!:kK!in~ tt..r. r»ia; ir~i9t~t ~;.-rritlci u,;or1 m2t."u'Tlt~' =>r ea1:!S1' re.~~pHon; ls payabie b"t che<,;~~ m dratt C? ~~ l"'t.iJ.411:;i AgMt m&~ tc-t~ OM'?Oi' st ~n._. owners adtjr~ at-It appears ~!'I ti1<!1 ~r~~tt-:;n t."'JOV.S m.a~.ttfr~~ t;v ~t-~ P~ .A.Dt1Vl! 6~ or me dc.sc: l.)f business on ths fif!M1f';tn \15th) d~y ~f the rno.ltrt r.axt pr~ ~i lntere-st Payment Datt1, Gr at et.Ji~h othc-r aodr'!US al' the Ov.·ner ma: r.ftve ~ wttri t~~ P1:yh~ Agent for that pu~"lSs. "fn!e BrJnd is orre •.>! a 6u:y autr;cm:zoo Issue of~ or t:~ Cttt Jeeign~ted 'City _,r ~ Mo L'tWe.!'ft!ty .. ~v~ti~ A.'"8a C'fi-S't!~~t r9i'kiilg ~MaSSment D!~tr.-ct t~ ~~~~(let J R9fu~ng)" rtne "ec11dS:i"}, In 'ln ~"w.Jst~ prin':l;.lQt wnoont of _ -~-~ _._ OQtisr~ \f_ J, Sil m Ske tancr ~ ~e ~ p.~Jen! tn !he p1~ ~the Bero t~¥: &nd p....nu«m to ~'Jt~ ~._ed. tm co~,~~. a~~1 _ ____, 1~ ~a~~ 'h99ohrtioo"). ~~w~ thP. !ts~ at ~ti& ~ ~~~ ~ t;erOOy ~ to t')~ P.~kin {~ 0-: wNd•1 are 00 fi~ at th;;J l']f~ 0. ms Cay ~} a~ tflD ~.Q ~W fOf a ~-o1 H~ !art"M ·~~ w~dQ;..; ~tie ~ s~ ~qd ~ncl~ rigtrtS 1~-!i~il$:' 'J~ ttre ~ ct too ~ lir<f tne nQMs, aui..ifi ~ ~.r.1'.~ of lha. ~if~ A.OMt and ·~ ~ Md vbli~tkr.n:s ot ~he ~ ~fi'~, t~ :U _ 0: th~ f}41)'"5-{lfirs ::1 'ff?'tk:.i) ~ tOO ~-r~ of~ &r'.-d, ~Y ac~~r. ~•'-$~a~. ~ &n® ;~--~'11 ~ isoott h"r the ~ oo -~If ~i~ t.~ ~-for 1-he --~El fl~ ~u~~ ~ o~ ttte <lP'JtlF~ tirAt1$~ -~f~!~k'~ t.-:t 4 ~rut:~~ G.:.~~e -;i,: ... ~~-..,.~ 1<~.-'-.(; ~-':!"--.... ""'°'' ~~ ... u -~-.......... ....,: .i..,..,:__ • .,. .... ;,,_..' ...... -1 ~.:.J,__....s-.• ~~""'•" ~.._..,.~ ...,....ov-;. .,..;. i-~-, ~~ c.<rr """~ V• ..,~.,_,.., _...,. .. ....,........__. ~-~-iJOm~ uwewnn. REf~ IS HE~Y MADE 76 TViE FUH'tW~t:l N'~\'!Ss~S CF -yH~$ fH)~~~ SET ~lti OH THE-~ HEAE.of~·~cH R..tf!nt~-·~-o (.1f'_<w ... s aom> St-t.Y:...L ~ All Pl*lPOSfS; HA~'ih~ SA.~~ ilffe-ct .It,$ w tF.r ~ !~ rrl$.~~rf· _ --· · --· · .. -- '_,· It ht ~~'lfb".; ~·g.dlt d of tt~ t~f'~. c~~ <i~_, n~ ret'!!R"ed to ~~. if) ... '-~it ~ .. ,,_wxl rn-to ha"8 NJtti 8*1orm~ ir.~4~1i i:o ~ m i:tra.~ti:-e Qf ~ f&~ - ~ ~.?.m• ~er tunt~ ~~ ~~-m ~~ l.s(adj ~~-tin'~~ s.r.d ~,,.-~ ~-by ttie :av.1$ of !ha Stat-s ~)~ ~~ ~ \M~ ~ errr;Jtm1 t:t1. 1Ms Br«t. ro-~8'--- ~;,t· -ot.~ indebt~ cf '~~ ~·. -~ --fJ'&mct, <ic~ not ~~~ ~ tkttt . ~ -h'i.· any laws _.,, tfi4i St2t~ cf ~~-J#~1 i's: imt m f»:t~ ol she ~mcu'~ 01 ({IJ>.!"~ ---."!ft~ .... i...... '-' ....... , .... ,of .. _, +ii.ft ~ ... ~~~ -~--!oor~.·fr'r-.Vi:ll\! .. \\...,,.. ........ ,..,.., ·~'i,,~ T.':'c':l"W;~,,.T tJ•;~ --~~~b~_'t"'f".•: ~· - : -:-~)- -.-.. I/ r- ·- ·,--·.: '" ·-.- _•;:. ' ~·· IN WITNESS WHER£0f, ttte City ~f P-k> ~Jl:>, t>y its Co>.>ricll, ~ .... ~ this ~nd to bf! stgr;oo Ir. Its bst-.aH ty tne fa~mb ~~M of· tte M~/Of BM Directer ·">~ !-lP.~nce £tnd 001.mteraignse by the facsimlfe iigr•~re -~ ~ ~·w ;;k~l.;. ~J-~ ~~~ ~ City CtsrK ~o affix thereto in tacslmh Its ~ate eeai. -ett ~ uf _ __ COUNTERSIGNED: {not for signsture) City Clark ,not ter atgnattare1 Mayor REGISTRA9LE AND PAYA6l.E av S,M1<£RS ~ COMPANY or C~JFORN:A; NATIO~L A.~1/1.~ -·i;· ·~ ·-' ·. --:·: . - _,. . :~ ::..--;.. ... ,·• 1 I 1 j l . ~ l -·~ -~ -1 -:-:-· . ,-;~-~-~tJit~~:.~;~ I> .. I: -~: •-. ... -.~· - NO.~ ~lc~~SLr{e:~ UH!TEO STJllES OF AMERlCA ST:~ TE o~ (.':Af.l~:oHNtA COUt"TY o,: fJANTA CLARA c~TY OF PALO ALTO UN!YEASIW AVENU~_Af\EA O~F-SYA&I PARKING ~NT t\JSTR~ 1e89&MPROYt:~~NTBOND_ !250 UND\~RSrrv AVl!MU!5 l&.C'Q-UaSiT!ON} .'\''.\.' . -l~ fir~ by Wt\itl cf ·Seolion -rn. ~e.~oo !Stfmi: ~~~ G; c.1 c~~\'t,· i:~.18 of l-·_ 13 ~'l. tl-ti-~ P.Jt~ ~~t <.;-ode ('tru "Cuds1, (tilB ~1 Lev.'1. ·Gte C'ty ot Pillo AJl.c· - \it~ -"-Gtt"t:; • .2 n".f~ ~·:up."}{~~ ~ ;_µ;de( ~ ff~~s· ®after ln t"ie Got.mfy r,~ 56:lt~ C!&ra, ~ -a)f Caf!f{gri1~. fur· tr.& U.'1h·'~~ ~v~q-A.~ Off-Straa!: ?cnili'-.g ~ant ~¢~-"'~ib!1. fm ~~tue re~~ wl'f ~~ tt• 1my right ot ;l~-Of -t~lPt~ ~et j~~~.g;J tor~. oo -it~ Mat~~ D&tt: ~~ aoov0. pay ~ ~ ~~!Id::~ Nlilifl..1 ~ .. erve. or ~~sQ !!mgrre. ('".,M "'Ow~. tM ~Q-~- A.~~ ~~-~ ii-~~ih r~~~ nf ~--iht~ ~~ qf Am5r~. iH'ld 'Mf..Y ~..r~ tOer-aon m I~~ ~ -~ t~n ~ e-~-?-~~"'it c.,.~~ !oo ~~n&"?i<M .d-erli-=00,\ n$tl pr~ tM1 cat.;,-'Jf~~nti<'~t_tit m.tt-~~,.6t'~~ \\) tMs Bona w t>t.~etsr.i Ct; · ~' ~-P·aw.....,...,t "' .. t-...;. -,..._"-f._<b ... ~-;;i:;;_-_~.a ~r 1-,,.,.~ '""'t'"'"" ;;a.,-...!__,._,,,.,_ '"'~ af:• !l~q;~ ._,,.•C'C'71!1 'J:"~ C"~ ifi_ ~~~":·i 9~~--~~ ~!f:m &,,..~~ ........ ~~ U ddH ~~I! \.SU~ W; ~oo. 01 ti?) ttn ~-ftt_·a;.!l~ ;m~-tc -~~.:t.:f;f 1, 1Qre, !~~~ch evont tt that~ b68f intete&t frOtn_ t.'wi De.t~c:~ :slai~ ~~ ~ ••. Hid-«.i. 1'1:Wit.~·o)I. H-<#.f I! -at the. tin~ Of ~c:~~ ~f ~NS :Sofid •. ~~ l'l? ~n ~tit c.-i ti!l~ E\')JH1~ \ria lliw.({ -r....Jt '"'-.. &.o&a.;.....-"om tft& , .... ~.,...., ......... n......._ ... "'"--+ l"li.-~., -.,,_,., l-Y'~i~-_...d>...,;.~~ .... ..;,. ",,-,.,w_ .. ,...,.!c_.. ~-~...;. --.~ V8DI 11~_,.~ IJ1 .,~ "~-t~~~~-r·~:-1$":~•1 . .,:..rin.~.~, ~.c..a ~!r~-:11 -=~f~i:v11~ 1;,..;t; ~·,-.~~~ ..... ~, ~~' paid or rnade nv~.Uabio for ~ on \~ · ao"1d) tmtll ~}!~rt \~f ~;;;;., P1ir.:<'-«J Amount m fun. at the '"t~Ql!t Ra'fl ~~-iiMtHii ~~~ ~oov~. payablq; on Mii?.,_~r.; ...: ~no ~-t Jn aa~ y68, oorr.~~~ ~~~ 1~ 1000 (each sn '°mtef'&St P~~t -om.i .. C6icuietttd oi! !n& ta$i of a 000-SJ«Y ~ ~ of twetv~ 00-~ti·y r,;~r.ti. _- ~ here-of atnd promlum. 'i a:'ly, "-'Ciet'-att_rlj_-~ ftf¥tv··f are pay9hIB at ~ -~ in.~i: office of Benker& Trust Company-~-C•=~. l~~~it ~~m _rth~ "~ A,..,a,ntlr\ I c ..... F-, ..... .-&.-... _ r-;·~ -' -1-.:: • .,.~n ~,.-,,;,~ -. ,ll_;..,.~ .. -t· •1< f""-' l · ·, ...,,..... . -:-~-~ ~· ,, .!1 ~· fa.tr~. ~..-a111anmt •. !~~-...,.___.....,..~;;r,i,t""l~-RUV.:mg ,,,-.'1 -~·8. fflir~~ -. pa,,.-m upon ms~~ vi va•Hut-r~nptkml•~~~bl~ by ~h~. o:-~fflft·<J1 ~-Pit~_ A~ m"1isd tt'l tfie Ono~ st t~ c~~•Ls:-,._~ ~ t'µpear~ liil the ;~h-~ --1 . :. -. ';~ .. " '~ ~._alnej by m-:;. P~itliQ" A~"1t at ~' ~!<,;~ nfoes of buskar!RiJ tJf1 t~'1C'." !1~.aenth {'l 5tN dsy c~ ~~ ~lfu ne.'(t P<OC~~ aw.h lnt6fG-$: P,s,y"~1'( Oma. tJ.> ~ sw;!1 othe:r ~ri:Jt>~;.'l G3 th#\~ may h~ ffied with tr.a Ptt~og Agent 1!Y. that Pl.l~. Th~ Botld le OM ·of a duty autt\Omed D.N oJ Booda oi ttt1 Ctr; c:~gmitoo "Cit}' ~ Palo Mo Unhr@rl!fy Avenue !>-sea Off-St~ Patk~ ~en! ~trlci ~esz im.-~ BOOds {250 Universtty Avanue Acquisition)'" (>Jte · ~ "), irr en ~t-9 ~-H~"'tt ~OM MIUion Six Hundred Thouscoo OoH~rs ($1.600.(.l)J}. au oi f1k«j tan« ISM-""*-~6 ~ pur!t.lllnt to tr.a p-om~M of the &Jttd Lsttt· a~ purauatrt io ~ No .. __._ oi tne Cot..!nc-d, advpt~ _ • 1Gee, as ~ ~ ·~utk>nh autnc.~ me ~a!'ce n~ the Bonds. ~~~ ii ~Y ma!''6 t0: ~hs ~~ (~~ ~ \~1~ p~ ~n i1~ at the-otlie& o-1 too Qty Ci6:-k} ea.1 th6 BGnd ~ fOr ~ ~ of-_t~ on Mhi~ 'i~ ~~ ~ ~ e.nd th& rlghtS ~~n cf ~oo o·~~ ~r t.,~ Ikmoo anti _thtB· f'~hts. cut!~ ana !mrm.mitisa o~ t~ P~ A~~)~ :!!nj the r~& -~ (:Dl!g~tl_uoo :Jt ~ C~-th~'3$r, ~C'.\ &'9. cf th~ p."Ov~ of 'Pi1klh R8ao!ut!oo tt"' O:_"ffi1Y. ot tN$ ~<!. by ~itance hef"eot. ~nts 800 .a;;n::i¥. 11~ ~ f?ave o~ ~-hy tft; _ ~ ... -:;~1 00 tmNi[ m ti1e Pl~rtct fer !l"..(t ~~ ~ ~9 tf'te ~ d ~lk;, ct t.t~ Pm;~m ~ c;~,K.'td ~.-,~ ~. fft~ afi ~ 01 ts.o~1l 8M ~~ru ~~es if! c-~if!ootJc.n !f'ior:~. Rti.fE~tNCC:: ~S HEHE:SY MACE· TO THE RJRTHER ?RQ.\/!StONS OF 'rHtS !.¥.-.NO ~F( ~ 00 TriE ~Ym~r H[}leOF. Wt-W)H fUBrH~ POO'-f~S Of 'f'.-i~e a.f';~·n. ~..ttAi. ~ .. -~ :..C.l -fi1 tf'.>!'. .... ~eo H ._., <:' ·r· 'E s <l.t..:J!\;: t·~~ i•f:t i-OC"I-~<>n.t ·ri.1 ~•ii~ ~----~ rv!'1 :-'lt...l r'!.lr .~vv ..;;i, l•\ t/ ~ • M ....,""~ . ..; • ..-·~"-' c P""':-.r ~ 1 "'.Un~ . , I,"" YH!$ PLACE. - _ l_ ~· hlpt:iby. t'WJl'lmed tnrJ. Mt iJlf t!ift ~r.~ ~~ma-~ RX?~ to ~x. ;.~. to t!*'f&~-~~.~~ 1*\n ~ ~~ ~~-~ tne ~ Otthi8 Bold d-"' ~.~~~-or hs'~e ~ p&'°k:f.~~ci Ii _due er~~:-ti.one ~ tnamtll' ae ~ ~-~ ~ o:A ~ SlS9 ~fC~~r~~ $lid .thet • ~~t of tr.!$~ t~ w!'1t «It~·~~~ -eff ~-Cit'Y"~:ier -~ ~~--~ "~ tl'l"~.JO:~ i~m;t ~~Of ~I ~'1h Cif ~:~-~.~. ~!d-~ 00\ ill~ ~~f ffWt ~i.mt Ci a.~~-~9dro~~1~~~~~ ~ ~~1_ ~ _!Wf ~~ ~-,c;..; .. _~«Y tr.If~~::~ -~~-~-ri~t'd 1c ~ ~ c.i m ~~-~.mm •.. ~:t-{ ~fr.-~.,}tt aw-~&tJ,,., ~-~-~ t~~~ by~ ~~~~.i~~af~ ?-~ ~~. --- ··.'. ""·-· ·, ', "· . ': . e •~ WITl\fESS WHEREOF, tne City c1 Feio Atto, by !ts C:C'o.Jncii, ~ti& cal~ tn;s c:-~~4 tc ~~ ~~::l l:'t i~' bel1att b~ tha fa~!rr:!le t.iignatw'DS of !ts fifta_fi.1' anrj C!rootor of 5;11)~;-i.~-sod ~"'untareignoo bJ' tne iacsir:·i1:0 stQM!:Jre vr '~"'City r..;!~rk. and ha-a o~us~ :ta CLty Cler~ l•? aif'Jl; thOt"~L> in f aa..lmi:s !ts CtJrpcra(f! sa.1L, t.i.!1 11-:; o~ ________ _ M:-3 I ff OAM OF REV~RSE r;1Dc OF ALL BONDS) This e~n..:I 3!'!d the h1tarCJ.~-t ~i¥oon ar:~ or. ~~: ot~ BQr!tie and t~ lnten~t there<l!l (to the extent_.&at farif'l tn ·~re~ ~~ht.::'.)O} e.r~ t1pet1i81 ctili~miorns of the City pay3!~la frcrr, ttm prOCG6ds .:,i an ~~ro;illJ ~m ~i"r,ooi (a fi\)Pif~j ire tn~ R~!utivn}; the Cou;1cU has the sx.~w& amd ~ ~19Stoo io levy a.std Annual Benef!t .~~"?lent fN tt.e payment of th11.; 8oods ~:1,,,.. the l'lta.-est t!',~oon upon Jli! t~b!e reErl prcpe11y wti:r.!r. Ht•3 D!tl~rlct subJeci te cudl ,~. -~ ~~ ~~ ~ thf) r;gtrt ~I) m.a1~(.~ Q:1;11.l3i •'~' other ~~c app:-oprial''.Ji1S tHl~ ront"'bu~ns from a.vaifs~ fur."'ts ilr' F:'..'~!uE~.! ~o t~fl D~bt ~Fund (as ~efln9d lil the ?.3ro1mior.}. Bum:is m~~ti:ing ":>~ o.~ ~tore Septe.-nbet· ; • 1 ~. are not &Ubj~c: .i.o 0p!ic.nai redE:-mpt!cn prl~r ic rr'atBri!y. Bonde iT'l~tw ing. en m aftw Septf?::lbe~ ~, 2COO. •m~ &ubjet:.1 to reaernptk;.;:""~ ~xicT t::. ~heh· re®e!rti-..·e ms~mity ~te&. st that opt~nn cf th& Ctty, as a whole. 01 in par! 'H i!W~~ ~®r of ;r-~turtties ~nd by kn: wtthin 4 m!',urtt;. fwm s1-:y source of av?-H~t.l.r i~.irtdri, ~; tJ.n1 lnt61~~ Pa1-rr.v.rt oat~ can or ~ftet Sept~nt>cr 1, 1~'9. i:it t'ie :~on·;~4;; ~·:==.;.:;~~;..,'1'; .. !l\i~ re.de;-,,..."t~on pr.~~ (~·AP•·~j as per~~ :J1 ~he f;:'lr!cip..li aw.oum oi !r.s BCYid~ ~1;. tr..~ rede&mea), ~us ~ccri.Jed Int&<-th.er~!' iil t.n-!: ~a't'l of reder.i!.it~~;:; ~tsrrmf.n" 1 . 1 ~ft9 e.oo Pi!.:irci'i 1. ~one ~Jlem~ i. 2fJ!i..Yf .. ~na Ma~ch ., , ::001 &t?wmoe.~ 1. ~001 t'T'~ t.',ef6S.ft9r i0!!0% 101.0' 100.0 B!lri~ m~t~r~ ~iitfJ'l~· ~. ~-·-' a.re su~: ·~u ma~idatOtY redem;;tk.":1 en any S~iemce: 1 on ~..r Jt!t~' Sept&ir'ibur <J. __ ,at a ~~t~n pric:9 equal to ttw p!fa~i amcun~ t.~oof to l~ i~tJesr:ted t00&¢har wtth SC.(.~~ lffi*J.r~ ttcw.~n ~~ ~ ~~l?".km ~S.t~. wtttioot Pffrn'~?urr.. f:'cm alnk.lng f;,md ~;a'.·~~. n"'.ads S'>y l:1ei Ci!y l!~ tt1~ P.$S!O&l ... rtief• in th~ y~tt ~nd ~mmm1R a~ fr:l!owr;i: S~.1klr~ F~n,1 !.f~llb~ !-!~ pr~!i~Mxi ;n ·~~ P.aooi~Utm. notioo o.t 1.n."J.smpt~P. y~ij ua t1~~ii~i by tl~t cis~~ m?:tit r:v ~~ than tn!1ty {~ID) nm mor~ tt~r. ~~~1 t6')} da% pr~~ t.u t?"-e re:#lnipt~ dai~ ~°' it:~ r·~-.Uw oi~· ~~ any ~.)m:m ~~lro b' r00~n;trt~~~ ~H their Mdr~ ~ril~ 9'1 u·~ £)f.)r,..j ·~!'ef.nn bt'"*'i. frieJnt~k:.~ C}' !~~ !'ayl;.ig fe,~)M~. b!.rt t~orG tn ~ {".iii' to 't t;'!:s 8ontJ is caooo ~or ~ampi;(;f• ~l"l':'.i µayrrtem is du); pmvid~~ thertfor ~3 ~cWoo In the ~~:utior1, l~tar~~ &h.a~! cet\tG to acc.-c;e i"'¥eo.1 ~ra•r1 er.d aftlr.! ~h~ d~te flx6d fo,-redemption. T!l~ Bcnoo ti.re ~ ~ futfy ~~~~ 00nd$. ·µ1tt1c1.rt •X>U~mtt.. :t1 ds::i~Tr"~natlans ci $5.000 r,r e~ lmeQr&I m~•J:lple ttl~roof, St.•b~fK.t.. tc V'le ilmlf~Cofl3 and OO.i~itSVr1~ ar.·d t;flO" pay1TI00t o: '-i°MJ ,;ha~Ei?. ~1 ti1y, $,U. ~ .. r~·,;:d~ i."i Ut<i R~u!:Ori. Sz~!S m~iy t-~ exc.~ged foi· ~ m(~ a~r~•!te ~-,iriz..1~: amo~Mx cf Soi~oo c1 mhru ·:t1,..tS1!"-tized ~fmominatic1>s e11d of the Hmf.' rnatmtty. TI1i~ Bond ~ tr.ansia;ab~.a h~' tt1e C·,;tM>.•· ~roof, ir~ ~o!l, or by ~:a attorney dut;· F.ut~!0,12~ lr1 wrili11g. at i:;ald offlr;s of tr.~ P~~.~tt'tq; Ag~t lt1 t~~r: Frant-~JO. Ca!!tomi~. b·m en:, in the :"i'·.ariner arid &i~l&:n w ;:h~ tif~~<;ca.tion.~ p.~iaed ir: ih5 fiel5chrtion. and upco · t~:;-rc,-r;.)ar rmct can..;~i{l~i«:ir. at tiila Erond. u~, r~t~tic:r1 ,..,.~ wctl traruf.<tr a n~w ec..,-id or i?.-Q:Y.is, o'i a~ :;1rthcri~~~ daalOffih~Of! or Mm;;-mirurtlons, 1or tMi oonm awr~e~a pt"ir!c!p~~ 9mmmt asm o~ ih.e ~~ met\..enty ~ ~ ~~-~ ~-~ ~:t:.e tr~~er~ !~ IJ!tJ!t(}h~n~e he:-~tof rna c~ ~.lid #!e Pa~ ·J;\ger.t '~ tm~t th-e ;)wr.e; ~~.:t GI~ ~J~ ~ute Vw•*!f hereof it~ .a'i P~l7?'.'ffo9&, 11.!00 tits C~unai •~ld fr~ P13yi;1!J ~it ~-t;ot CY.! affit~oo cy ar.:· ootit.~ t\.'l ~contrary. ft~ ~~:.:ncm 111t1y L"e a..n0ild00 wffiwu~ the ~~ of th~ (}~ :if ~s eon& to too $."!er?i ~ t~ t.~ th~ ~-oo. A28~£"J~A1~ 1:-..a ~~ ;;bb<111~-.. ~~ !.Ol'z..1 m t~ ki...-.cr!pt!c;. i:>f! ttltf ~ o1 thff ~~1'lm £k>fid. ihcl be cooat•i.Cd a ~ mt'1-'Mf';i: OJin~t+~i oot io lull su:~ t::.l ~ la~ C'I" ~at~ u ter-.ant'.$ ~ ~-:lmOO as_ t~n\fl b'.r' the enti~~ •"S joint t~ms ~\h :}9ni of Si#YN~tp ~nd not d ~in common UMF GaFr MlN Am ·· ~t.ld~'' ...... -w- (C&At) fW.!n~ ~ Untfomi G~ tc; M~n-s Act ~oomot,Al ~V:ATK>~S M.~Y ,•J...SO SE L~~D '.MOllGH ~.IOT It~ THE UST A80"E fer va;tt..e r~~ t~111 ~~ ~,,,.~~~it~ ~~ ~!S t.--arta!~ ur.to -~-·-....__(HRm-13 .. ~ 3~ T~ i~if~,,;"::?G ·:if ~~ $.~v.;ty Ni.:r.~ Cit i·1~i iM ~; St'eid ~id hiof~~"'~ ~~~'~\d ~~~(G1 -'ol.-.~----..--~ ........ ' T 'fl'~....,...,.~'"""-~-........ .-:Jll:; a .....,,,,-.----_ _.._,...tlt~.lii~i' ti:• b'::r.tt18r ~ a,s;"!'ltt Oil tM b-..v.d ~&~ ~ r:if tbl ~~ Aflt(rt ~ Ml ~ .. o! ~~~ fn i~ f,Y.'~r..tQ;tt. · · Osttett: ___ ~--- ···----.. ~.--...... ... -~ .. --......---... ,--...,,.. ,...-111!1"'1• ~ -Nctai~ ~~~~mud 00 ~--~:~ ~-~ firm ~ ~3 ~ ~t"'?:it Sk~ E~ r; a ~~j bam or tNllt torM"S.ny .. k~l~-~~M~~ A~-:tii ~ CN'~V:,i,i ""~~ tM· mt.~ • ~fS,.'1 n1 m:a it,.:. ~ ~ ~ ~1U ~· "'~ ~~~:;-~gt. 'l'.iV~ ~iH-:..'f• v~ ~Jir.;·i~~rt 99"' ~ {~W!°".t~~.· • T!'\!a So>~ci ~ m1~ cf ~~.e 3of'~ r.oscr!beei nss. il-~ aut~lr-,.a-;~ ar~~ reg!staran t:"!t3 • ---------,_,v __________ _ BANKEi1S TRJS":'" COMPANY OF CALIFOPN:"1 .. NAl!ONAI. ASSOCiATiON. ~s Regi$trru, T ran:?fsr Agent grid t>tyir.g .~gent By ________ ~~-··....-... -------... ..---... -----.---- Ai.rttmr'.zorl om:;e: TH?S ESCROW ~EPOSrr ,..ND TRUST .. P.GREEM~NT !s datoo &a oi tt;e dacg ot d~lhrSfy o~ ttie City cf Psi{, Aito Uriiv&Nity .t\·~&r.u~ Ar~a Ott-Street fJa:i-Jr~ ~mer1i Ott.Met 1989 Rtibn:i:;i..~ tmd tm~ll~t E'-0nds (let J RsfuneinQ Emo !?SC Untve:stty Avenue A.cqulsit!ot\), f'J"id i1:! ari~P,!fOO !mo b>' :ar.d b~waon t:le CITY OF PALO 1ltiO (tt,a "'Ct¥'), :Ju~ o.r~n4zed ~.r~~ ~~~ undar arid tv \i'irtue -:Ji tM Cor.stttvtic.i .Emd tiw~ of ~ Stfft~ cf ~~Ol1'!it, an..'i BANKERS TP.UST GOM?ANY OF CAUFOA,..SlA, ~.~:ooN."l ASSOCIATK~N as &ctow P.~ {tM "~:::cr~w HIJl~'"J. a n&tlcma; oornd~ ~cistlori havklg !to ~tl'1 tr-~ ~rnem !!1 u~e Cny of San F~r.rnsoo, Cailfamm: W ! 'f N £ S S E 7 H: ~i-:t::RE.U, ~he City ~as er.~PC'.\'e?~i ic e~ti did, p=..ira~nmf to ~~ R-"~lwiori ~Jo. ~JO ~opted J&Jt1 23, ieB-~. {tt-~ "P:-!01· eorid ~r:ft.1H·:':ii 1 :i-.uu10ri~8. ~t3 a<?-0 Nii 1t$ t.h'"lf"'·arai..} A;.;o;,'"'!va lot J Par~~·~ Ca•·o:ige ~,z.t;.;;;..v:-.~. :::;:rf:.."'!· 8::.-;~3-;,.~f '!004, rtM wP:".o;: e~r. 'Wt~$. tto PJio:-Bc:i~$ co~1t ct $.~-~0@ ~n?ncip~i w1~ oi bond$ m!Wh~ end tti~i tu c.a.:1 arn=i r~:'ier!~;-Uc;. ~r;. ~ fo~kJ'f.!s, to 'A-if: [X;(I ::.1ficipei !!•':N~'t Jut·-., ~ ~~ _R..-\t~--Gul?!t!a .. 9$(; i 140,¢00 f\':0, (.0Mt.:J t~oi-1 ·i~~ l~.,QOO ~ 1~~!1:· ~7tJ.~ . Neri 1ea~ 'i ij{'!,(tC!\ ~fm 1»~ ~10,000 N-r°J.>"' -;005 2:~.coo O:f, ~nti i=H~ u2:~ rnM:: ~~(,00 Cv' ~~ 9Her itb"Jf; 1<xi7 2"&5.000 ~ !tti'J e;!~ r J'2i~fi c~ 330,000 Of1 a.1;c1 et'f ~ 11 :..~ /4!$ 1~a -S&:S.000 {l;? •< &h-llf 11::1£~ 2{.lip) ~rn.O!Kl rJr. e'id <li"l~ !l'ilt'5 2tJJ~ 4~.000 0:"1 arriJI ~f?I\"" :0-' !!'JPJ5 ;:(m2 .5~n.Ci{'IO On .irt~ ~f';-,:t :·; :i l>c5 200~ 5~5,•)GCi Or, a~.q i.i1i<;i .1 !2/~G J(l:O.'! 830,{):J[J ')r, c;:-,(j ~(;f "'! f1/£t3 ~~n~iJJ.ll. ~ t»'do:'" ?o ~cr;:e'Je SJJbsttt.,Yi3{ ~jw:.tli..>r~ ind~ ~~J!~, the c~ 1'-3-! J9't\!:lmi-.~1 t.~. f~ ~ ~~f\' ~mi ~1r3e~ i::> \:>fO'T~ fer thi:l ~a.111..-..e ~f#f>..mi:i~ amd o~!~oa52-nc~ .Gf ~ ~*".¢r Booda in t~ roern-Wit· pr-.;;,,.~iat:1 by 13~; ~~~.-'ii::& E~cw Ht»,W ~ & .,;lt~c~1a! c&:ilcmg li!~.!~Hon witi. f\ill tn~st pow~ WM~.J-.~. t~ Ci~j'. tiy ~~ ~'4.itkm smtt~ '-'A ~ution ?r0-.ttdl:'·1g ior t~e l~u.s.~ ot ~J;-t1 ot ?a).;1 A.i1.:o Unk~·~y-Av3'i~:"1 l'tf""''**' O'if-Str-99! Pa~:n·J _J\2f~"'t·nv-1t ~Mi:rd· ~~~ ~i;;\'K?kig n~d i;-r-.p,·o~-nem 8nnds {i~""' J Riofundffig ~oo 26.:J Unh'~, A"·~~ ~cq~!s~kJ!:)". ack.·pted N:>~f~T:;b8' 2!, 1~. i?Q am.gnded (the "B.:>nei ~~~~n'J I I I I ... .. ~ ·~· I I --·-_::\:?:_~---_.-·: .. ·_ ~-~< ~:."::.':~-~-:;: -~ '._.-~----_ ---~--:-'~--:~~-:~;-'~:~~;-~~-~-~~:_:::--. :;:,~_:_~~~~~?~~J;~-~~::-~·<:~.'_-~-.; _--~:, -:_-'"_ .::: ---... -... ~ ·~···. ::..::. :·~:~·-'<:·< ;. · .. -,· ,,,·, .;.----~-:::= ·-.,..._-.-_. nl'ls e~tt'!DriL!fA1 tn~ lsou~01~ of ti"ie City d ?s!o AAc ~Jf",..l'!~lti A,•aoi~~ -~~e!: Ott-&~rest ?a~ng A~rn.s1~~ D*1r'-~ ~~ Eef1.mdhig t:ii'lC imprf.'::f':'n~:-t\ W"idg \Lot .J tQfundi~ !lnd .250 Un!-vt:-nl>:~,. Avf)r.ue Acquffittic:n) {~he "B-:'lr:d~"~, :tfl'J halt cr~;.~n:l~ _10 1.1,-.e_~- pcrtH>n ot ~h.., pr~ l)f !ho Oorids to ;~t!..1~j i<~ ad\·anc~. p~1:-s•JllITl -~o e.r.p:ic,.;cr._, l<!w and the prcvis!oM of ~Id R.)o,j Re-solutlf')n, t:1~ S4,~5 CXXJ ~~-osert!y outetandi"il prlnc~~f amen.mt :;;~ t~e P:1or Sn~ a.:io theretiy iO di-Eo:.:.11cirgc: 2nd ~tiS1y inia ?-nor eer.d R~utlon; WM~R~S. !h~ City. 1n ~tie RiJ~i Re&clvtior'. hii.:is v-:~r~"1 ti1~t ~ portlor. cf ttie P"tl~ of ~l.n -:i~ \r1>; B•Jr!d~ tma~i b-~ d~·~too in !"he ~i~-fu~.._11ng Escr(l.v_· :=: .. md (~tie ··t;f;-;".:rcw f-t1!1ct"}, a1"i irr~~or.;a!:Jfe ~--.crew cre"tell and m~u,~a;nc--0 w:tt1 U19 Escrow tic.~. w;:"..'i ;li:lv;,il;t~ ~.Jositc--·ti in-thl!:1 oocrow to f.lA irwe.:i.!~ '.n ;:-:J.:5Jt~I Sdelutt!es a!1d to oe in a ~~t.g! Grr10\_.1rrt $.tiHICiftfit, togci:tlwr ,.,..~r, iit-'$lti'lem otlmi·1~. w ~.ay sr.d cai; ~r,~ ta<J&{im the Prim B~i-;ti$ ant1 t~ pgy ::rr-'4'.~ ptiW)pei oL PfG-mium ~~d the irrte.""esi on ti'-.s ?r!o.< Ben.is; ~~l!Et:.'Ue!"'°-..:l. ;,.., f--i ••"-'l1-··--T''"•._. ".I ,., "''•h "'-a'i "'Or(. -· ~ .. ;;,..., .. ...,.,,.._ ,,.-.u._., ,._,.'"'k""'°' tQ P10',.:...i_,, "" r ~"!:·-~,. .. 1.?t ..t .. :... "".;l.~ •• vQ 'li:!~ ~~ .... -.t". ~· 1,. -.i. u •Q\I.~-,..lf.-t.:vt~,, •~r:i ,r.t.!' ~ ... ~~~·,~~ L tf~ for t!io lr.•1&ct.rt1--l>'1t, ~nd the ;.J~ :J.•'d rJ~ps;~ti~ tJf.. ~f;l~ on i~ t..:nds d€pcsitoo :oto '."'~i(; £~Ci0\.'1 ~-i!'lN 10 payrr~erit and i'-$·i~oik1:1 ot ~I-ti:~ Prier f.~l"'ltit:; f<!nd WHF.:F~. ~~e ~Ge: r:.w H~~ ~~ t-J!i ;..."IQwt:-m ~c ~c~-w~1~ ~~ ~o W.:hi irr-?·1c.·.:&c!~ a.M.",fflw lirtr..l to perk1;m \ht; dcr~--r 3~\1 J)l'!iif}Z:t~arn:t to ".}'8 ,_;:11.1'3."'t~io-ia.,-~ ffd'ciiJ&.r•i l.O it:is Agf&'~I~:; . NOW. ·n~4,;.~, ~n CCH~SH'tticm o't tne; ~01~cirt1.,: ar .. 1 ~? t:ie mut~l pn}mi$tos h~f'ft& ~ f,::rth ~rid 1o; trthM veft.r~b?a coosid~~tic~·, t1°'~ Ott ar;d n~ E~t-Gw i·k;i<-~3-: ~~1'iC$ ~ f~...: ~-1. 08\nltkma. Cap1t;,1d~ea ?"~~ 11~1 tie;"Gi:~ ~!'e iJs~rj wrtr1 ine ~r. .. m~~ ~~ ki th~m in tt:e S<md ?~es:-ut•tin ~~·d ~n lliS r.ecitaia ~!<"'i~O-! •Jot~ th~ {".{):1t~?t.t ~~Yr~~~ $tITTte othar moan~n.;; ~~ ~ t!~~~~M< ~ ~~.;;.'\iWJ; ~ -t:A F;m~ !Ii acccoon~ ~t? tr&; ~ovli!nr:e ot -tile a~nd ~-U:.in. ~ ~~ Fctld M ~~-nt.et•NJ.1ed t'}' t!"afl Qty wi~Ti too Ea--:::row Hokkir as i:m in~.~ ~ to ~~ ·~~t.P~ t11 ti~ Fscn.)w Hckier ?r. tn..'iSt for tre b~tr.it. and i;Y.Ot~~~ t.."! ~M-h>~ ~1f ti kl /'~ Si...,.f:{l-J. Concurrently with the ~iv~ IJf ~~ &'J~V~ to ~ :3un •. "ha~.ar tt~?}!1'i\.-.f, U\ ~n;~ ;r·;t ~.tsi to th~ Rsfl-mdi~g C-t)fti;:;"J~~ of tM ~ ~wao~ -~~ ~e~ forOt 1.-i Soot~! ;:.u~(~} ,.,~ tne Bo11c ~v't!OO, kf"ld ~.~ a~Umwi fh~ pt'0'1!di.'1 :n ~-:,;~~ ~tr!J ~f th1; B~~ ~ll:lon. iri !.:nrr-1(,--d:at~ tiv~itsibfe mQt~y-.s,. ~:.1~ be p~Jc> by t~ ~~r u~ Fim.!!ne6 ~c ti"rilt ::.~-ow Ho!~:t f()r ~~t hi ~~ E~~w ~und. (a} Tne t:~ow Hc:;161M EhllH ~ wd" p.x'Jof• cf tha ar..01.:;:ts d®~~·~ ir: t~Q Eac:ow r:.Eit.1 ~-:.me.uant to ~;;vn i ~ $ f'.Gt. t~h 1'1 ~ ("··~·t'ffCIZ~3 c1 !h¢ ;~~"/ U) ~~ in ltS 0WT.: fl:'l!fl1':< ~.~ eSC'"C:N HnkJgt, t~ k-d....~i ~..._._,,~~ ~.!G!;,)sd lr~ ~.JI;·~ !_A>. ~a,~...,:j ~mo ~Ki by ioo r~f er~~ ;,~"lf~OO t>£'~\~rt, 9M N<91~ t-,.,"")lcl S!(-:< r~m~~ ~~Aim Utra't°iA.~M. -2-- I I (b) Ttia Ett~ow Ho.idG1 msv !rive<..,.c c.rr::.1 nt~;w.;v~' !H c:a·:jt)f~; S~u=--!t~~ t;.rr_y :!lm10:.1s rar~;~i;-;tn~ fror,: t1~'e to time In ths t'5<;lt::* Fur;{'i tJ"':tii t!l~ ~ro ''S~..:t'<C. ?rv'lhj.od. !°iC''.f:tov~, tt1ert we~ mcme)>e st\all be r3l:-r,,~!1'd !n u:-,:~o-:J Si1!.1r..t) ~:-~e:r;;w~' S.~;1.t~~es - StatA anCJ Lc-n:i.! G1.)vemmoot Sct!!tls m3t~.uln~ n".'> ?Q~et th~m thtt nt:x~ .. :a.i~ary I nr Jdy ~. whichever 1s earlier. st 9!1 Inter~. rate of C%. or i~ 8JJ<:h metufrti~ or a~ ~en i1~r~r~• rates a;; thn Escrow Ho!d6r shaU M dlr6\..ied by CGT'ttfit;.9ta a1 th~ City ~·~ o.-;~ it S(J~~h Certificate sh'!Ji bEr accomp.antdd !:iy an op!r1ion of n,c.;,tiona!~y ~09nilc0 t>o!i::! cnur:~$i that im1estment ln eccordaiiet: wtth s;..~C'h Certiii~1e will 11(1~ a!f~ct fo1· F~al ~/.;;;•tPe 'lax pwpcses, thi:t axempti::;ri ~~cm Fad~rel 1ncorm1 'ill<OS of tr.-a !:.tc1195t or• tt;a P(;::i.-dcrfds end th€ 8ond5. ~ 4. P~ym~"'l1 F:.~r and Use cf f:t>~~ ~-'"-CtfU~. ?@ti1Jen~ for the F~;~~! Sr~urtt:e:-1 i"f!'f~:rro tv 1:i $,X;~~>Jt! !; shat h-'J <".(1ndur~':.t~tf evhierict:..:i by th,;, F.:sc;-o\<' Holder'e ~~€.C< .. !~!)11 1:nd d-ai!'ier~ oj ~P. ~cJ\.:mwi@d~r""~m of pt:}'r!)~L "f r.e rsdewl Seem-it~~ and t~·e im~w.~ th€r&e""1 ~11!r be m;~ to ~~~~1y thr requhemem of pa·fm-e·fit Gno d:W}h~r~ cf ions Ptio' e.o~ <.1 1t<>#ful rnontY ci ~t~ U~!tod Stat~ cf fl.nieic~ and s.'ls!; ~ ;1~!d uy tl~O:t E~-ow hO:<..w ~tA'y T()r reasmµ~iOr! ~l"d pAyrrrt;;)t o! t!i.e Prior r~rn:~. ~tlon f}, MM&ntion f(J.-v ~.m IM ~~19 ~r.-~. 'fri-!!f<:-r J1111J c~ rte-t~ined !;: ma E.:.cmw Fur.ti ~ii h1~e-1i$? s:::G1·u:~1n from end p."irn:;ipg! pl:d;1.1 o:i t:Jl! F~1e;r~i S~'!,~ftles deµos.fl~ t!~::.;1·1~a purMar;t t<'.i Sqr.:~icn 3 hefeof to the e..~\?ml :?.·quli~O tv; the.· p:::.~ f;f t!1~ pii~!~~ ~f, Wo/.(~·~~! ~~ i~t-=r~ Ot~ ~ P~ bl:.~. ~f!'j !!µ f!i ~~t:. :!:J.r.~•z! g~ f'tt<ier~~ S&,.,mfit;~ fn l1 ~ £~ow Furr~. QXcept as h£J~ ctiw.\~;~ ~;;r%t~ pP}V~. fl!'~ hereby :rrc\l(>CSUI}' pi~9e~. tr. tnnt. to t~l{t paymsrn o! ~rte ~~~rcd~~i .:.f. ~~.urn and int«9$t O!l the ~tior Sc:·r:ds. _As f~ds 9re requkad ey Bank of Arilerj~ NQtJor.-si rr..= ~nd Sa~ J\&1xia~ior'I, acting as Pe~1ng A.~1t t't)'< 1he Prlor B...;nr.ls ~hb ·'"1~ ?~r~ Ae~nr1 tr, P!:!Y rnr.ci~l c1 :md inters.st en !t.a Prior e'.mcis p~ldfng ttwh' ~9demptH}r4 <Jn .Ji;ij• 2. ~bS,;;, too bicroV'I H...."lder W'Ja!i paoodk.;$.:lfy (f~l'met to the iOC'..4 Piw;r;g Agent fi'C:il ~ Eaif7\,-.'t f'und S'.ICh amounts as rr~y be oor~ k>(" :il~ P'..:"~$6 sr.1 1 ecfri~tt of r;..e1!ffi~?!i !Jgn~ ~~ t~ t994 Pa~1ing AQMt smti~ tort~ tne ~rnJ; to oe s.1 \r~ff~;!<:tr&O; p:ov~:t. tr.at ~IC!'i c~tlflcet~ sha!J not b-e h)~uifi:K! tn too ~~m ttr.at ttie r:~o'IJ H()j~ar aoo \:~ 100d ~7-lng Agoot ~"'6 th~ same ir-E"·'.i~u1lc'1 o; P.flt~y. ~~Cid I.. s~";Uie MilnlQ}f$. 1l~ ~&".V~"""' ~~'Sh$~ ~,,~lm.f;:'.>\~~/ ~lim i:~;a r-10~ ~ ~ig F..scrow Frnld wh;c;1 lil~ t.<Oi ·;;woot:<W iri i'1il a~v~ ~i:)U::j Fe$~! e~riti$1 b)' ~! .. 'Ch ~}ll~!!<Zrti! 1ii9 ms.>}; ha n:~~1Ji<"ti1;o; t•y i<tlw 1or ~ ~f p~t:: fonC:--s. ~~ 1. ~i1¢t: ~ A.«ood':~g, -n'te c~, hf.i..r~y iff6V{~t~-abfy t,ii{~:~_ Wil 'j~·t PQyir1g .t'.gent, itnd thf.l 100~ P~h·,o A~-.t agr~. ry ~r; "3~g.,_~;tia!:-v-f ~ ~cknow1ed7-'0d!lni of ~hfi t~f"r:.s IDiO e::>ntM'-or11..; of t'11s Ag~-.~eme?"t ~;.~ Pf<~ t), {at iJ~~ .exj:.,~~n Of 100 Cff)i). to g;\16 notSOO Qf U~~ refu,"ljir;g ot' tile P~cr &in4:1S by ~t~~lnq. ~Of ~,1l'J 011 ooiucl:f ~the Clly, as~ as ~~!-4-:;~K:iit.Ns ait~ ~ha rer...G1p~ ot tW~!':-t"';"' e~~J F~ai $.w_'l,,ffm*6 ~eund«, a~ isast ow~. J": the .~ rrMG:is-ro Ci".11..~'.;: ~ f\'W.t~~~rJ?W l'.tf go~~! Cii"C\J!at~ in the Cit'! @Ad Cour·~t1 or Sar~ ft3r..~o. Cff:iftY.rl!Jl, r.~ Los~ nm~. a r~~~" ti! O~w.!~ \:it(.1.i!~tt?n lri ~-he Ctty of t ~ A!'iQGlre, :~!~~tf::i~,t~ ~~ Ttiri Boltd &4).w or the WIZ! S~t ~. t~ri~ fir;~·1cia! i:t8iJfirt''2 c1rcu~t5-j ~; ~r~ ~~~ ~ - _Marir-i&tt.:»r\, City @i"t<J ,$"!.ate rA Nw-n Yc:!"k, tc r.ctl·.:ie ir1 su~..3mh:.~!N th~ !Qt~t:r~·!ng !""11~ I . ~ . ..:~.-~ ... ·.·. -·· ... -:'"-:,· .. ...-; : ------~---;·,~;-~<,--~:--_._ ..-,:·.. . - ·--: J .. _ -_ -.<_-··> .--~--~-~---· ;.:~~--~--.• --·- -.:: .. ·-· ·.~ r ." _.,. .... • <". • "'" r _.;• . --_ ,-~ :_:; -~:-~ ~ ~i:~:~~i~t:~~/~f *f ~~~:;~~}~;~.~~ ----. -.~ .-"r•• crrY OF p,t:>.LC ALTO SANTA CLP.RA COUNn', CA:..!FORN!~-- NOTICE ro OWNE~S o..-: THE ci-:--.-o~ 1-"'ALO AL TO UN~\-'EP.SITY AVENUE LOT ,I FARK!N3 GARAGE ASS~S3"_4ENT DISTFHC"' 30NDS OF 1984 NOTICE lS HEREBY GrlEN to th9 O\tfflefff eno oo!ck!ra C·f t~€: Citf 01 Ps:o .A.Ito lJn;vera,1ty kt€m.ta Lot. J f'eoong ~rave .A~~t rns:rict ~~dtl of 16€4. t~t. therei h~s bi'l9n d~lt2d in ~r.;st wtth Ben~ c1 :'\tt:~ic-.a Nat!cru1: TrlJ!Si: snd Se·.1iosf; Assccisiior.. Sa~' Fran~, CsITTc;mL.~. ~ E°3cro_,, Ho!-;J~. ~ arn..1 S:~ii; Sec.<;rttles t:i& princlpa: f'.:'~ wr.~'l rmc :n-:~ en '?~h!~n. a~ ~'<!fvetl, wm provitie a6t..' w!1itJil is suffh:;i.gHt ~o n;;.y end d~'ia!'g~ the .arn!ri; 1r,{joot~r ,~ ~~ 8t.<c-~ 8or;ds by ~it~~ of too princip~~ o1 a~r:, interest thl.'.Y1~!'i nth~ S@mi) become.:; :::u9 aoo payablv prior to s.!ld c~1 J\.:ly 2. -; ;;~. ~nti by payrrient G~ pti~pe~. l)i~m:lim and ~-='..-.'.'.rued hrt~eet .)'1 ioo Sonds on Jul¥ 2, l~'i?.S. µrlcr ~;j Hie maturn~., of~·~-Ber:rn: :--~mslni~~ :.1~ ae. of tr:e:t date. H:~~~K Of .t,,&<frnCA N.AT:CNAL ·rr-1UST Atlu ~~•ilt~\:S ~illWCiATiO!-.;, a3 :~ F~~~ti: aectie~ &. ~ c;f ::-~WM!pdoa. Nt.l .-ttu?r. ~Ay rev~ da~ EW~ iat~f tr.&1' thi:fy (3G'} ds~ p;iof to "ii.:!:1 ;t, 1996, nc;tice Of r~o ~.ah oo ms~~!::)' 1tret ~ rmd11i1 t~ rie~--t~ uwr.* ut such Bonas L-:y ttr:~ 19fk Pa-.{iog Agetrt. (e) ld~11tify ~ ~~ s." bei;"i9 Cit)" at Pa~ AUo Uru·/6'~)' A"'le."!ua '-~ .J ?~r. ... :n~.: Gara~e ~·w.>nt LJWr.Oi Bonds o: 1934~ - {~} S~.~i~ th~t s;;rnooriat& ~W. of Zf.l85~nw1~1t ~t> tM City moat acr-AT!lllt\O}' ~~ Focr rXi·'ti'd JE;t I.Ii~ t1n~ ,:)i sl!:,.5-~1~ Md :hct"u~ ;. ~oo Qt }!~~~ ~rlMe. ~ City ff~ ~ li~iJ' t~nw ti~ t'"'a t:~ow ~~to ~ltute ncr~ir'~ f~ _S&w!il.J88 then ee~.d by tt-~ Untt~ - StE~• of Am~ee 1col"$tltutt11g d!i-&Ct ~ (Ii thwi U~ed States of America) f~ ~ny --:.-. --: . -:<--~/.: -::--·_.-_ ,( ~~ . -.,. ---~ -----: ," -·'"--. __ ._/-· ..... or a'I of tl"ve F~Gfal ~torrc:~"S then ..:!~~ !n th~ Escrow FL!~d. prjviried that any su~ di~too tt;td wbsiit~lan &hetil ~ AC-oompflr:I~ with .:s cettific.stio;i cf ar~ !~A<or.~ certm~ PU:")l4c. &OC(luntan; c..r ~-N, !>f ~w?~ilfX'l ?U~~c a,-:uouot2r!' or f!rrri of .~}fled put,alc aC'XX'Jl.mta:rr;s o~ raver•~ !M!ifcna; ~ ... ·t.eUOt\ i&Xpariancoo In t~e rt!ft.:r.dm9 of obilg~iona of ~cs! ftUbd~ooe. that ttMJ ~rl 3ecur~iP.S t~~ to oo ~ d~positt~ in the E&.'<OW Fund. together v..;th !r.taraart to ~ darr.:;~ tn&re~~m. ahaff b& i'1 fln emour.t st all tin 1es at lG3$t 3lm-:cle-."lt to mska tOO PC:~9W'.:; ~;ec !il Sactfon 5 h9?eof an!i, 1urther, r.c be accomr.imi'Sd with :J.r. c~llion ~i !".:Etio.1a:t1 rnt...'1lgni=~~ bood oounset th~t the sob!titLtj:ion y,ifi not sff~t. fo1 F~~ ~ ~ pcip~1, t~ C.'<amptlon trcm FBdefttl ir!~ tax.a of t!'!Ei inta:-~ O<'t ti"'P-Prl>.--;,· ~crn:.{e .'.ir'Ki t!Hl £\~jg. !~ !tie f",1em that. fcP.owing soy r.-.IC'h eut.~it,.rt•on ot F~eraJ Soct.tn.:ie; ~•NlUarU io ti!is Sectk>n s. there if; "" amoo~t of ~ncya Cl ~~arst s~-;U~ititJ:S ln ~x~ of :11.n Rtn-et-lfrt at!trtCtl¥.l! to ~~e tlle pa)'l7l0m& raqu~n:-d by ~):ion c n~oo1. S!.iCh t!X~ shali ~t~r. 'f~ificaUon of the 'faci of such ia.J<~ by a covtffiOCI rn~!c r~x"·•untant or f~m -~hs:JrE!rOi rr.eeting trtt> qu~lW~tions ~ forti1 aoov~} ~paid tc tiw Gity. fiOC'dot• 10-Utri<~Jt~ F~ ~ £3i:::<M ~<ZkJl!L.~ Parm;~ aw~tr~. ~.Q?.pt $-.1& h-e~:.m-. otl'erw~ ~.pr~· r;ro·..-~. !M fic..fOIJI: "",ofciar s."?a~I h;,.)\'O n0 ~tO~' or duty to ~1'::~ tt-Jb&titutk>rit; of the F'f.ildera~ Se.'JUrtt~. er 'ts~ ~, tra~1et c): 0tt.e1wi$e d~ ot th~ Fadtirai ~ 8ooUoo "'t. Mt. AliJtU'egs. T~m City het\?DV cov'Uism~ tnat nc P.fi't !:.! ~ f~,ow Fuoo mttft oo used oirectty o; 1oo!f~tN ~o C<"'.t'!ui:e art)' ~~!1~~h-m c~ ~i&iS~Gn~ 1:~ ·~Qu~'t!on Qf vmk:h wouid· cat.~ the Pr~r 8on6;;; tc ~ ~'a~r.ranu bor~-wlti1ie1 it~ m9.9nr£~ n-f Section 148(a} of th2 lax Cm:e or.u tr~ T~ ~'Jo..'lS pront!.dg~te<t ~tl:!\r':6!.l•~d0t'. ' . ~o~ 1:a. ~ The Efl.CYow Ho:d~ wut ~ b'-.ok& of r~ ~mi acoount ln w~ t-"OfT!i)l.et.e a.r~ comJCt ~~ ei'\6~ ~ frnloo of ~t! t;s~"f.~su;~~ raiatir.g 10 tha ~;;;'&I~~, di..~r.snts., &llc,":=e'NuM and B"'~~irm o1 tt'!<S rn~ moo ~8fa1 Secur!tiQ accnk:~ to at& &ct~ HrntiM her&U~. rt~1 sue.:, t~ ~~ be eveiiable for ~~ a'( ~ ~ a;·.o tttfl~ ~.,t .. h~ ~~ ~Y tl$ hn!Je~ of t~ Prl>..it eooos ancHhe Boma ·~ i3. ~pu r-aff~. the Clfy wffi. <tt it1S ~. ~~. ~~~, de!!-t~· '.}r *~ tM~ A~rsr:tf'l~ni anict a~ITT"100~. tm~. ffr~~ ~terilei'lt~, rora~r;~·~~ ~tem~~. 3ftti ~.i.,;r~nc~ \'el11'.tirod ~"};·tr.II!! ~tn< ~ ~~ng. ~~. (i._~~l!i~ ~~-oon~lb);J \lIBO \N ~~ H~~-{])i;S mc-~qys ~ r€~ ~ ~em:.v ~~. tiif. ~oo4~ ~~ to oo· it-'( YJ(•4(;tt ihft c~ ~,~et" tr~y ~~~ft~· t'9C:.~me t:o;M_d t:; ~{~jg;;, co!'!v~ ur ~'hJf: ti.) i.oo ._ E~cw ~~J« .ri iv;- C(!tr)ii'!f~ vui tnCi mt€ntior~ rn' faJj.matmg t~i~ ~~t"Vrm€~~~ 01 fo~ ~~ oi N~ A~v~~~t. ~ t4,. ~'f~~. Tna ::xr.1$(;;;,:1ti;., !iem: .sr;d 0'3d-t100 ~t~ ~~t~-~, ~oo VJ" 'm_o~ ~~~! t\'.l \t-1:.--. .~.9r~it sn~i1 ~ iui'Y rusen·~rgM. ~oo ~&~ ~; S*li ""'" "'"" ;z....i_...:.. s:i:..-~ .~.;.~ "'t. '""v·-i1 i-.-.... ... p•~•--t 'r1 ~· ·'• 5"!': +o ~.Aft!.~' .. w11.-:.. ... ,..... ..,...,, ;.-~ . ...,...:.'°" :.J• ~"~-• ~.(.t..n ~'JI\ .. ~ ~.f;.:....-·,r H;'. • ..,,,. W'\..~n .-.. u 1 "'~''~ ~ ... '\· ~11•1•~-t.,..;.6':•t 1""'~,,,.'""'-~"' ~·~~ ,-.. t\."~~t.-U~•)1 3lE·h ~~-t~ ~•ltmfgetio"I th!$. A'l)r*-.~ment ar:-t1A c.:e~. ~~tJJ ~"'.!\! ~"'nt~ fl:.iil ~~ 'i-"C~ --.~d ~l>Of! t% Escrow h-0i00r shal1, \!~ti lti\ r~ of a ~ o1 th~ Cit}'. ~~~,,h':41Ui ~ .. -:s..1$ ~"i..'}(NI.' h'mt,•urrrcmt~ ~~n~"""~~dt;~ng ~~~~ lfd".t.J ~~~t,· o~ ft:~ A~m~r•~t.. · · i 1 I l l .. ~on 1ll · Un~Ulltr.itd Funds. No~~t~s.tar:d~r:ij 81")' (ltt\er p1ov~ of th;s A~·~ ~r;y mcnff)' h~d by t~e E~:-o·N Hokier h1't'et:nd<Y. m ~rilS't !or tt~iit pa}'rnMt nf t!ie ~'?&: ~'i. P?amium "::io ~nt~-eat o.. the Prior Bonds and ~11~i(lg IJfldf.limed for il'\'e {5) ~rs .efler tt;>3 pnncipsl .Jt all of the Pd~f F?onds ctlaU ~c:t"'e bS8n ~l!sd for rad~p~it;r: !jnd ~ft.er t!i~ dst~ o1 red9mpt!on sr.'1H t.~c:ri be iNpsid 10 tht Cify upon 1·e~pt !.>;•the 8'croy; Ho1oer :;,f 3 ~us& o~ trut City, and the tioh::"':-s or ~he Prlo~ Bonde s."la" -:~'.Y.f:a:ta~ b-9 ent:t{ed to iook or.ty to u-~ City for ths repwfi~--=t ~hereof. a:in ~?h~1ty Qf th& E.sc:o""· Hoi-jet with r(;Specl ~o such !'l'lOney shail thereupon cea~. in tM: e~idn~ of ttie •epavmei:"rt oi ~ny su;;;ii m1 .. may to the City as aforesa!d, tl'ls Owners of tlie Pr.m Bonds ~~w ~ooy wtth riFmP~t to wh!~h su~ moMy w~s ~J06!ter1 m~al! thereafte< b{~ r:erri71.:.1'f'J ~a t-Er 1.mGe(':J1ed cre-dii:on; of tile City, vnthfY.rt lrnarGSt. NfJtwitht;tarong ~r~ !~~lng the ES{;!'C?..v Holo~· s.1u.~11. upon !ts roc=eipt of e Reqt.."est oY t~ City ~V 9'.JC~ nID~ay t.o tt~ City s\ ~MY ti~ oarliar tnan five (S'J yga:-s, if t&isure to '!iff:ay ~tl"..11 w~ 'to ~Jio C;ty, wlt.hin sUGh e.~rtlP.a· ~"i-0-'l shall 9rve ~ta the Op$¥.at~on of £ny ~~t 'Ct!f'Mc ll~ ~ble Stato :Cw. ~~en Ut. No :•nP~lad t<vtigc; H~ A~g~ kn 01.h~. Not.~~n9 kl ~ P.~~.ar:i expr1JSQd C>i" ;mplieti !f.: irit~i1d&d or ~ra~H ~ oo~roa-:t to \~Ve to at".·Y ~r. atr~ t~r1 th~ Ctt.y, me E.w-ow Hv~dsr. too 1004 ~',~1..;r~ A!';.¥.<t ~;oo me t?:wnt."f~ o~ ~~ ff~X Som ... ~. 4£•~' k{;•;ii "" ~~bi~ r~gm, r~ •J> {tla;ff'o um:ittt ~ ~ r~~ ~,., H;~ A~•~nt or a~ 4r;v~narlt's, oondit~"") CK p~w;ot~ t~n c:r heisWt ~trt~~ .;ii.r,'O ah Ci.Jc-ti c:"..O\lena;"t:~. r.:cnditions &-"\:$ µ.ro'.-i~ ~re end ip°"W~ be·~~ t~'> :;,e ror !~•€'. tt4~ $1-.0 ~d~mv!., ~t ~r u~e. cnv, ~10 &"-mw H~ ;.me• tm: o~~"& of rt~ f'rHYr c;l:x.~ Tt..e t:s~~vw Hot~! ~·~~ ~orm ~~'i ~rn~. l!t';t~-r?.Uy &;~ 4'j..t~~ ~ ~ ~.a.ew.~uy !i82: f~. m trus A~·11ent. '-~110 oc tr~~·J' <'Y'rt-"'~~i1tit c:'~ t.~,Wi.-?.A£ lt!~H ti~ !"OOti trt!O th1Q Agr~ agJJimtt tt1~ ~~cw i..i~. · · (A) ~ f5et'f.$ Heid$:'~~! nm hf!";,'$ 'IIFft ktlllity ~ndiW aJ;cep?. to t~ exter-.'( vi its Om'l nf.'9~a ril ~tit ~~uct · tn no-e-1wtt Qhail ~tt.:. Es.~~'!w holder ~ Hebt.'3 :.d ~r.:1 ~ti~ f¥ OJ:l~~kil oom.a~ ~ !.!. ttF$ e&:.-.n:r,,~ H~; er i~ C~' AA;)~ o~ ~ ~-Of !Wcii· \.~. N ~" ~ lt!MC ~~e OO·d:it1~ {"ff r~; w:!~· ttlki Ag~\-ant m the ~ 61 ~~tr.~~ ~c?"!11g~~ i}/ ~t~ rov~ or ~;b ~ i,s ~ of the ~ ~ ~~~~"n° ~ ~fl.s ~>-~+rtk"lll. The~ Hci:IM ~s ~ ~Jtred to~ c«of..:eth~« dml~m1sto t:!"Kefr?y er P<O~y 111 Its ~n~ ~ ~Mmt. iB) The Eet.tow HOCd$r may ~ wit.ti rou1M of its own cii~k" . .t;: (w~'.ctl reuiy ~x:. cao.mtsi to (he Cit!} and th$ oplr.t<in of ~'"'! ~ •1 t.e h!~ e.m:Z · er.~~ rtutOl..>:.zabon t~ !8" or ~rtter in ~ooe ~ Qn~ .a~1 ~creuM.~3!" In :~.u-,.,x:;t~~1 w:th ~~ · Of';!fi~ Of {,--OtM'~~, . . . . . !Ct,f 1·~ ~U~ p~ ftlli1.~ ~ ~~ ~, Of af..QUfl'{I ~ftf fr1~9C't 1>1. <¢:;,;· or tm; a~Q ~·~ch trn! ~ .r~~cu tml lt ~-lliAl.l h·'!l•l& ~ k *ml} Hct ~t:t.~ ~k.r.jw H~. q..,1 ma¥~~ t'»" ?!e ~~·~w !f! e.ny ~r~ or Gtt~ tmnf.~ct~on wftl~ t."lft ~'&"Cl-'· j ' j l i I I I j l I I I I (~ Tha Escrcw Ho!der snaii ni;,.~ be li~ibi$ for the acc:.nilcy d ar.y cs:c•Ji~dcll!: provided as t•J tll~ :st;r.ioleliC:' llt uie O'\\.!f'I~ or Fooe<G1 ~""l\~ies t1~1~~·.l ~it~1 :~ to pay the pr!:i...~ipal, lmer.j& or premium$, if ~11y, or; the ?riw· 501~~- (F~ Th~ ~!jC!OW ii~ ftllall no~ t!t~ ~!ab:a tor any gction er o.-n!~::m t:>t th~ Cny und« th~ A-gr~ Oft~ ~~utl::m. (•3) Wn&'i.N"~ in !~tS a~mlnib"t:ratior. cf tt•is Agre~M! ~he fila'Ow Holder Sh~11 ~ ~t nee~ c.•j destrE!tAe tt"1at ::i matt~ ~~ r>rovoo nr sstat;ti8-~ prior ~o takin~ or e;t.;fw.ilttg ~~}' ~ctlvr. t.er~~e~; •:met. matttii {ur.!oss !>ther E""Vkioo~ In respect thefro~ ti& ~ ~p~cWG3lt1 pr9SC\ibed! tn~Y-~n the sbsen~~ ct nagligeu::;e or wlfh'u! mff,cc11d;:ct tif~ u-.~ pert o~ ti'lc Es'.:rvw Hotde:i, oe d~moo i.o be ~ncluslve!y ~ro-n,o soo ~&bHst'~~ ov a C~1":c...•.ne o~ -::he City. and s.ut~1"' C~if~.-~ .. ts s~.j}::. ?rt lhe a~ece Qf ~~er;~-J or wl!fa11 r~i..'\("....::.•ncJuct ~n tha past \.-,t t~e E~"lJtk ~c-kie~. h~ ~~ii watrimt ~c,. me f;.Sf..mw Holdrc!t for aP')J 8ct.kJP !~k~~ or ooft~ed o~-rt vr'i-i.i&r th~ ~rt~...-i~ion& 01 tri~ P;\1i·aeH•~~;t ~~90r: t-'m 1tiitn -~!~Sl~f. 0-1 Thcs E..~o\".' Ho:u~. m(}~' c-;}T;:,::!uf>ivr~y rot;, aia: to tr.a ~rntir ~nd ~v..:ur:s•zy c-~ ?~·~ ~atemente and coo·s;,:.~ne'>.~ oi Ut~ ap!!'(~n~ and ~t!{;W.~$~~ ~1fo'>li,.1ed w it ~.'f..h ~ Agr~. a~ sh.a!l t:e 9f'O~~~oo ?n ~·:t;~g, or ;-c.-frgi~tr.Q ~WI tJ(.."ting. l!~i a~y ~··"'f·_;m - ooi:~. t~ietrttCU-.)n. i"~QL'<!-St, ~Hit.;~t~. do~..\r.-~!':! r:-r -<>oirilc-n ~um~ tr-!~ ~'f~ Hr..~:t:" fn 00!1:-lf;)C~km 'f..•.1.h :h'6 .A.~r~rnsr~1 arid r~.¥~1.'.}.\r ~B',i&-J by tile ·r~ow Ht.4diaf tv i~t:& t;~~ ~:~~,} ~r ~~~tbcl. t.7 tri~ p~ p.a.~/: ~!td ft ~..c~ =~~;~ ~~,.~~-!;~~!~ a~1 fa<.~ -x roittl3r' ~~~e.ti ln si:Jcil •Y.ltice, im;tru~tio;1, raq\iest, c«Mtei:.'te Of ·~b~. !J) T?'!e GH:y ~gr~~-~c_ kit..1~r~~Y th() ~~·_. Ho!~. r.~ ~~~e l:lr;~ itii', ctfc~~ ,Qr ~c1•U••J.""-',,..,.... fn" ,,,,.~ to: ·11iA tr,.·.;_-r~-"""'.Y" "-ln•l"fa.-'~"' _. ••• ,.....,,;.... _..,4•'.'1..._.,..,~ .rv ..,_.,.\~"''-'"'"'·""'-'" o.,_..._l"P'-':'r_...~ '""•ijJl'V'J'~ v;: 11atl<t.., :ft,...,i11,_, .. rr..,.:._~\.';\.~C..:n !.'\,,._·;_.~r~ .. !t.'il'-~~t,."" ..... ~n·,4~ ...,_11:;,..:~,~ l..,,.. .. 71:;;;_t...:'V.29~~ .... ~ 'i~'i• t .. -::·'JIV'.Y troril E:nd &WJ~ 00y u~d a:t Ult-11;~ilci'S, .:~t-~~~M. ~. ~~i!m~gi~. 'p&!µl~~,, r?~, b~f~!"<'l--~ llP"-.---..I._ .. ~ t">Aie.-1>"""'-"'"',,--',;:li;lilt _,..,.,..; .. ~~ .• .-""~1".-;:,t-,•~-"""~ _.,,,,.,_,_, ._;s.,rl A::• ,-.,...;).,,,,.._ ..;---~:::r~i...--.,.., ~r11~g,-~ta.IJ~i-a:t ..... ~:,Qt) ~'"\~ .. ;s. ... _,, ~,.~_f""" . .C.·"1r~~~.,.,,,..;:....:. ... ., '--'• ...,.1:i;1 ~'~~ "-'" ~-,;J""!~'t.1"1i~ wrt~t~\1$!' ~~~~-witbc~t fif/:"~2'!~. I"'>!~~~~ t~ er~ci d~__..;;.!r-m:r.<!:-:~·~~ ill ~,..;'1rlS;L~ t\N L~ ~""'OW ~~'iii~! MAY lle Wip::t~.<l f.srf, ~;'ft'.i.!Jr:?d t::.y, {.;""\' t~S.$~~ej ~~1'~ Y.t"i-f.: Eecrow ~ e.t S!JY time b)' r~ oft~ p.eflt~m5r.~e ~f ~ dt•ti~-.-i ;.;~ ~~~ .. w,,Hak~ he~ and t.'1'208r fue P~!•Jl~lh, ttl ~i~ ~~ii.P.UCt~n M:r;~w~ mrt .on.i·y,; ;.~;~.,;.."'t'~ or t~e ~.oi~t Ot. l:>H'! -(if tM ~ra.-m~J9M i;t~..empla!.;::-O h&~~1 t.J-t' :r~ t:~ ~oo;;.!u-tloo, u~~iti*r ~..;ua to the ~ tifAW~ or ltfa C'if'-" ... "1Srlf i;;,-r mn-;.4:~~~ ~.-cgv~!l;' n~l"=~xe or ~~vi r~"ld•.lct. · -- ':f -·t .. I I I I I I I I I \Ki AH '1u~:cas, c.;t;rdftei.t~ o; ,it~~-c~~{l'\muoi~·sut'ti& !ic:-o:.;nci~r w·iti1 t;1~ !.::SGmw hoWer ~ho.il be a6.:1r~ tv th?. Fsi'.";rC·-N" Ho~ Dt Bank(.rs Tm:lt Ce<ript1ny 01 California, NG.t~I Asaoc~at!of'I SO Fremont StrMt. 10til H:lor ..:.:;;.n Frant'iSco, Ce.J:tt>rni9 G4"i05 ~"n 17. W~i;;on" o~ ~;otlcf. Wilene-.:~ In this .!\9raement the giving nf n.~t•::-~ by m:.tli o~ c~h ... )rw~ shail oo i'aqu:r&ct, ~~:e gM~ cf such notice C":"lAy be ·.rJaivod :n wrrtl~g by tr1i;; p.3i»On ~ntltlGd to rE:oee!·.1e 3t.lt1l rit 'r!c~ and tn any su~ ca~ tha g1vlng or re~Pf oi' ~uch nc!ict' ~l'la!! not b~ a c:nm1it!on p: ·.'CPd&nt to ttl~ ;:n!!dit~ or miy ei~!on ts~an !n ~~~nc'J t;[.:On ~uch wai'im. S~lon 1~., FBn, Tree ~J'.!J Hoi' ... ·~s ~ecs, ti)t(~ ar,d 1"94mbomerr~~.t tcr co~th i.-icurred. for ai16 en rotr}"Wag o-Jt rt;-'"? i!-?'tl'1N..:~:re of 't.tt~ Agr~ment have9 I..~ fo;a-.i ~Y ~P3il.lV'~ ~~,~~l?~t. TM= E$C!Cw H~ ~"tai: '7~l b'& ~nutle-t~ to ~:$dlti0f'lal 1~es, e;q::ie:u:.J}; a:-.-:i :.~~~t{~!ji',;~1~ :c• ~,-:.; !N:.':..'ffOO, !.1du.•..n.·:-m.,1 no~ lirntt~ to i'-l?~~L ariQ a~~.:tY~!:tl:~ ~r-:1l.::~-P.·1 ~!~e::;! •:;~ ·,111*-"' any et.1s,;!~!C:11 ~Jc~ rf:,,.~· Q~ ~my f.mt! !:>~ ~r~'!ot:::~~-=~ !rwo!v:ng thrs 1.g.raarnGt·rt. lt1e f~ trn:illl''ll!IC by !r:~ e-a0w H~dsr sn<J~! !r. no &'i'9nt t:..;; dsaoo~~ from the &<:.-row Fw'fd. · ~~n .,.._ 3e\fenl!)mty. m CB..$11 any os~ nr mrm;) or the p10·1isk:ms ~n1r~ ;n thts f\~~f;Qnt !:18 for ai'y rell'!On 00 ~ tc bf:~ lov&:bj, \~;Jal or UflQl\~{}rt,~l?le !r. ~my · 1·6-~ect, ~..i;,;~\ ~nvtw.dlty, fllega!ity or t.mam~~~ ~lr:.jt fim n~~t ar-y other pro~ona ;:.; :~l'E fl .. qre~~,16ni. but tti!s .b.~ ¥tan M ~'ltltmsd r.s 11 tH!<.-h !nlt'alid or Ulagsl Ci ;,;;ier:torc~~ i)rcv;stoos. ha& ~v~ ~ coff.!'4~ h&.-&t1. ~Hort 2f!. CoJJ~. · fhl1i J.~cr~m.m rf£'i M ~~~tw tn &;iy numDer v~ OOP~t~part~ ~~ fia'm ~f li'.iich oo;mterpsrt:s ~~tl ~ ~ P\ifP~ oo ~iK:f to be ~n ~~gh~a~; aoz evc~i co.1,;nttiro3rts, Gt' t~ nUAn~ ct th.em ~ ~Mr A~cy tuld th~ Escrow Holder s..~1 pesarve und6St.:ov1td. fi.he.i! !~if.ner ~-r3tltut'3 ·00! one and the same ~c"mei-1. ~:;'!.i.'1 fi, ~~ Dlrp. Wr~#'3~;f:·f ~ft! ~·-!;i ~u~r,w by mts A,,,:eaov~rn to ~ di)nfl 011 ~ ~~ day Ol d&t~ zoo Sl~ ~~t o:· {.!file ah$li be s day o~tlcr than a b .. ~n·E'is'S ~a:". liioo such ~ may. nt.t ,c .. ,_ •. ht Ofl tl~ t:~}tt ~Joo~'ti'0\1 ~ day, ~~~;ri!fm ?.a. tJo'llt;e tn ~nu A~. ?tt t.h.v ~vem 'ih.~ tta ~1eemem ~ v~r ~tJ~!'·~'j ~~!:'t-i~~.;;-.t ~o ~iQrt 'h.fL trm:$i'lC~ ot m·tt~~~:.d, and thi:: Sor.<M arfl at tn&t t!mf; r.ff\oo bf i 1i6t~.::01~r.-1 ~"owr-raHn~ $l~C'f, \li'k;( l\O~k.~ ~rrMOOt ahSit be ~fv('t-il !o 1tJd1 ~g_..~ b1' ine Clty r:w -j'1e t-.~ow Hok:Wr. - Sectwm 2$, C@Uftntd• Lew. T~ Agr~~~f:jnt ~a~i tH·S ~r.....-~11~d .:?:'(c.i~~ Py aoo tttC3fi>ret~j iil ac;00rdanr-0 wlt!l, Um kiM :11 the .~·~st~ of Cs.lif!:lrnia I !'i w:i NESS w~~~EOF, ~h9 City and Ui$ (S('..fO'H Hc.:lciar ha .. ·e ~n~ .. '1 ca1.1:;ad thi& ~gr66o•H:"•t w ue t$Xa<.vt~ by tr.e dulJ a.0tt'icr-'!oo office:-s tharoof and t--a¥e Cdt1seci u1e !'"A'.irpor~-ce i;..~,s; to 0c vffl>:6d httr~o Emd ~:testl"l ~s ct :h~ ·Jate first i:sbo\ie ·~rttte11. CliY OF PALO Al TO 6Al'\tKERS TRUST COMPAUY ~':F CAUFORN!t\ NP:i ION.6iL ASSOCiA-:!ON., ti~ E.swnw Hc.:id~r B·· ·I~~~~--.----~---~·-··-ft..l.lthOriz·ed ()tfj~f BANK OF AMt:RiCA ::\!AllONP.J_ rntJST A~D SAV~NGS ASSC'(;!A110N. ~ 'n·M Pl-]yln9 A29t<t B'' J --· -------·-----·--··-.----· ----~-Au'd'!O..~t::::d ()f1ii::e-:-