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• Repayment of the Bonds will be secured by collateral provided by the Borrower including a <br />Combination Mortgage, Security Agreement, Fixture Financing Statements and Assignments of <br />Leases and Rents, dated as of June 1, 2005, from the Borrower to the Trustee (the "Mortgage"), <br />by which the Borrower grants to the Trustee a mortgage lien on and security interest in the <br />Project, as security for the payment of the Bonds and assigns to the Trustee its interests in all <br />leases and rents with respect to the Project. The Borrower will agree to provide continuing <br />disclosure with respect to the Project and the Borrower pursuant to a Continuing Disclosure <br />Agreement dated as of June 1, 2005 between the Borrower and the Trustee (the "Disclosure <br />Agreement"). <br />4. Documents Presented. Forms of the following documents related to the Bonds <br />have been submitted to the City: <br />(a) The Loan Agreement; <br />(b) The Indenture; <br />(c) The Joint Powers Agreement; <br />(d) The Mortgage (not executed by the City); <br />(e) The Disclosure Agreement (not executed by the City); and <br />• (f) The Bond Purchase Agreement. <br />(g) Findings. In accordance with the Act, it is hereby found, determined and <br />declared that: <br />(h) Financing of the costs of the Project will promote the public health, <br />welfare, safety, convenience and prosperity by providing more adequate residential <br />housing facilities for seniors and low- and middle-income families and persons. <br />(i) There is no litigation pending or, to the City's actual knowledge, <br />threatened against the City or the City relating to the Bonds, the Joint Powers Agreement, <br />the Loan Agreement, the Bond Purchase Agreement or the Indenture (collectively, the <br />"Bond Documents") or questioning the due organization of the City, or the powers or <br />authority of the City to issue the Bonds and undertake the transactions contemplated <br />hereby. <br />(j) The execution, delivery and performance of the City's obligations under <br />the Bond Documents do not and will not violate any order of any court or other agency of <br />government of which the City is aware or in which the City is a party, or any indenture, <br />agreement or other instrument to which the City is a party or by which it or any of its <br />property is bound, or be in conflict with, result in a breach of, or constitute (with due <br />notice or lapse of time or both) a default under any such indenture, agreement or other <br />instrument. <br />• <br />