CHFA LOAN CLOSING - Laserfiche WebLink

January 12 , 1990 LAW OFFICE OF JOYCE HIYAMA GLATT 1939 ADDISON STREET, SUITE A BERKELEY, CALIFORNIA 94704-1101 California Housing Finance Agency 1121 "L" Street, 7th Floor Sacramento, California 95814 -3974 Municipal Bond Investors Assurance Corporation 113 King Street Armonk, New York 10504 Re: Ridge View Commons Pleasanton, California CHFA Loan No. 87 -007 -N Ladies and Gentlemen: Telephone (415) 644 -2146 Telecopier (415) 6443573 As counsel for Ridge View Commons Associates, a California Limited Partnership (the "Borrower "), I have reviewed the following documents in connection with CHFA's loans to the Borrower to provide permanent financing for the above - referenced project: the Promissory Note from the Borrower in the amount of $9,360,000 secured by a Deed of Trust, the Promissory Note from the Borrower in the amount of $ 1,035,342.35 secured by a second Deed of Trust, the Regulatory Agreement between the Borrower and CHFA, the organizational documents of the Borrower and all other loan documents required by CHFA in connection with the closing of the above - referenced loans. Based upon my review of the above documents and applicable laws, I am of the opinion that: 1. The Borrower is duly organized and validly existing under the laws of the State of California and is duly authorized and qualified under the laws of the State of California to transact its business in the State. 2. The above - referenced Notes, Deeds of Trust and Regulatory Agreement and other CHFA loan documents have been duly authorized, executed and delivered by the Borrower, and each document constitutes a valid, legal and binding agreement, and is enforceable at law or in equity by the California Housing Finance Agency against the Borrower, except as the enforcement thereof may be limited by applicable debtor relief laws. 3. The Borrower has the power to execute and deliver the Deeds of Trust, the Notes, the Regulatory Agreement and other loan documents and to enter into the transaction contemplated thereby, and the execution, delivery and performance of said instruments have been duly authorized by all necessary action.