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(e) a Restated Declaration of Restrictive Covenants, to be dated as of September 1, 1998, proposed to be made and entered into by the City, the Trustee and the Borrower; (f) a Subordinate Multifamily Mortgage, Assignment of Rents and Security Agreement, to be dated as of September 1, 1998, proposed to be executed by the Borrower in favor of the City; and (g) an Assignment of Subordinate Mortgage, Assignment of Rents and Security Agreement, to be dated as of September 1, 1998, proposed to be made by the City to the Lender. 2. Findings: Approval of Documents. It is hereby found and determined that the refinancing of the Project by the issuance of the Bonds through the refunding and retirement of the Prior Bonds would further the housing policies and goals set forth in the Housing Plan and Housing Program adopted by the City at the time of issuance of the Prior Bonds. The forms of the Bond Documents are approved and the Mayor and City Manager are directed to execute said documents on behalf of the City. The approval hereby given to the Bond Documents includes an approval of such modifications thereto, deletions therefrom and additions thereto as may be necessary and appropriate and approved by the Mayor and City Manager, or other City officials as provided below, and Briggs & Morgan, Professional Association, as counsel to the City, prior to the execution ofthe documents. The Mayor and City Manager, or other City officials as provided below, are also authorized and directed to execute such other instruments, assignments and closing certificates as may be required to give effect to the transactions herein contemplated, The execution of any instrument by the appropriate officer or officers of the City herein authorized shall be conclusive evidence of the approval of such documents in accordance with the terms hereof. In the absence or disability of the Mayor, any of the documents authorized by this Resolution to be executed may be executed by the acting Mayor, and in the absence or disability of the City Manager by the Assistant City Manager or Finance Director. 3. Official Statement. The Bonds will be offered for sale by the Purchaser to the public by means of two Official Statements, drafts of which have been presented to this Council. The City hereby consents to the distribution of the Official Statements to prospective purchasers of the Bonds. The City has not participated in the preparation of the Official Statements, has made no independent investigation with respect to the information contained therein and assumes no responsibility for the accuracy, completeness or sufficiency of such information. 4. The Bonds: Terms. Sale and Execution. -3-