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TRUST AGREEMENT <br />THIS TRUST AGREEMENT, made and entered into as of May 1, 1994, by <br />and among First Tmst Califomia, a duly organized under the laws of the <br />and having a corporate trust office in the City of San Franciscq Califomia <br />(the'Tmstee"), and the Pleasanton Joint Powers Financing Authority, ajoint powers authority <br />duly organized and existing under the laws of the State of Califomia (the "Authority"); <br />WITNESSETH: <br />WHEREAS, the City of Pleasanton (the "City") has previously issued its 1987 <br />Certificates of Participation (Capital Projects I and II) and its 1988 Certificates of <br />Participation (Capital Improvement Projects) (collectivelg [he "Prior Obligations"), the <br />proceeds of which were used to finance certain public facilities of the City (collectively, the <br />"Project"); and <br />WHEREAS, the City has determined to refund the Prior Obligations and <br />refinance the Project, and has requested assistance from the Authority; and <br />WHEREAS, the Authority has entered into a Lease Agreement with the City <br />whereby the Authority has agreed to lease the Project to the City and the City has agreed to <br />lease the Project from the Authority; and <br />WHEREAS, under the Tmst Agreement, inorder to provide for payment of the <br />refinancing of the Project, the Authority is required to deposit certain moneys into an escrow <br />fund; and <br />WHEREAS, under [he Lease Agreement, the City is obligated to pay to the <br />Authority or its assignee Lease Payments for the lease of the Project; and <br />WHEREAS, for the purpose of obtaining the moneys required to be deposited <br />by it, the Authority has agreed to issue its lease revenue bonds, which bonds are secured by its <br />rights to receive Lease Payments under the Lease Agreement; and <br />WHEREAS, the Authority hereby represents that all acts, conditions and things <br />required by law to exist, happen and be performed precedent to and in connection with the <br />execution and entering into hereof, have happened and have been performed in regular and <br />due time, form and manner as required by law, and the parties to the Trust Agreement aze now <br />duly empowered to execute and enter into the Tmst Agreement. <br />NOW, TI-IEREFORE, in consideration of the mutual covenants herein <br />contained and for other valuable consideration, the parties hereto do hereby agree as follows: <br />9406901 M.LAl <br />