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RVC INVESTMENTS, INC. <br />RESOLUTION <br />WHEREAS, RVC Investments, Inc., is a California nonprofit <br />public benefit corporation serving Alameda County; <br />WHEREAS, the Corporation is the general partner of Ridge <br />View Commons Associates, a California Limited Partnership (the <br />"Limited Partnership "); <br />WHEREAS, the Limited Partnership owns Ridge View Commons, a <br />200 -unit project located on Case Avenue, Pleasanton, designed to <br />serve the needs of Very Low and Lower Income Elderly Households; <br />WHEREAS, construction of the project has been completed and <br />it is in the best interest of the Limited Partnership and the <br />Corporation that the permanent loan with the California Housing <br />Finance Agency close in order to repay the construction loan from <br />the City of Pleasanton; <br />NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of <br />RVC Investments, Inc.: <br />1. That all required documents relating to the <br />permanent financing for Ridge View Commons including, <br />but not limited to the following, are hereby approved: <br />the permanent Deed of Trust in favor of the California <br />Housing Finance Agency and the $9,360,000 Promissory <br />Note secured thereby; the second Deed of Trust in favor <br />of the California Housing Finance Agency and the <br />Promissory Note secured thereby in the principal amount <br />not to exceed $1,037,500; the Regulatory Agreement <br />between the Limited Partnership and the California <br />Housing Finance Agency; the Subordination Agreement <br />subordinating the HoDAG Loan from the City of <br />Pleasanton to the two Deeds of Trust in favor of the <br />California Housing Finance Agency; and any and all <br />other loan documents (collectively referred to herein <br />as the Loan Documents) as may be required by the <br />California Housing Finance Agency. All of the <br />documents listed above are approved without reservation <br />or qualification and the President, Vice President, <br />Secretary, Treasurer and Executive Director of the <br />Corporation, or any one of them, is hereby authorized <br />and empowered to modify, execute and deliver the Loan <br />Documents as required by the California Housing Finance <br />Agency. <br />2. That the President, Vice President, Secretary, <br />Treasurer and Executive Director of the Corporation, or <br />any one of them, is hereby authorized and directed to <br />