HomeMy WebLinkAboutR03-Economic Development Agency
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QEVELOPMENT DEPARTMEN9
OF THE CITY OF SAN BERNARDINO
ECONOMIC DEVELOPMENT AGENCY
REOUEST FOR COMMlSSION/COUNCILACTlON
FROM KENNETH J. HENDERSON
Executive Director
SUBJECT: REDEVELOPMENT AGENCY
LINE OFCREDlT
DATE: September26,l994
Svnoosis of Previous CommissloulCounclllCommlttee ActlonCs):
On April 4, 1994, the Community Development Commission authorized the entering into
negotiations with First Interstate Bank of California to establish a certain line of credit.
Recommended MotionCs):
CCommuoltv Develooment Commission)
MOTION: RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF
THE CITY OF SAN BERNARDINO, CALIFORNIA APPROVING OF A
CERTAIN LINE OF CREDIT WITH FIRST INTERSTATE BANK OF
CALIFORNIA AND AUTHORIZING THE EXECUTION OF CERTAIN
DOCUMENTS IN CONNECTION THEREWITH
~
~a",--~bIf ~
TIlJ. BEND RSON I
Executive Dlreetor
Contact Person(s): Kenneth 1. HendersoolMike Trout
Phone:
5081
Project Area(s): All
Supporting Data Attached: StaffR"!'ort.
Ward(s): Seven (7)
FUNDING REQUIREMENTS: Amount: $ N/A
Source:
N/A
Budget Authority: N/A
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CommissioulCouncil Notes:
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KJH:lag:09-O 1-07.cdc
COMMISSION MEETING AGENDA
MEETING DATE: 10103/1994
Agenda Item Number: 3
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DEVELOPMENT DEPARTMENT
ECONOMIC DEVELOPMENT AGENCY
STAFF REPORT
RedeveloDment A2encv Line of Credit
On April 4, 1994, the Community Development Commission approved the renewal of a certain
line of credit with Wells Fargo Bank and approved the negotiated terms as submitted by First
Interstate Bank to give the Agency access to a second line of credit.
Staffhad negotiated the following terms and conditions:
Facilities:
Up to $10,000,000.00 secured revolving line of credit
Expiration:
One (1) year from execution of documents.
Renewable:
Yes
Repayment Schedule:
Interest only monthly, principal due upon maturity.
Interest Rate:
Borrower to have the following interest rate options:
A. Bank's prime rate less 0.625% (As of August 31,1994, Prime Rate
was 7.758)
B. Advances based on a rate of interest (LmOR) quoted by the Bank
(the "agreed rate"), fixed for up to 180 days. Minimum advances of
$500,000.00 and increments of$100,000.00 thereafter (rate as of
August 31,1994 for a 30-day advance was 4.88%)
Security:
Investment placement with First Interstate Bank. Certificates of Deposit
are at 100"10 security for line, other investments are at market value.
The attached Resolution allows staff to execute the documents as previously negotiated with First
Interstate Bank.
Staff recommends adoption of the attached resolution.
({ I." , ro ~"/~Is~ ?-to /~
KENNETH J. HENDERSON, Executive Director
Development Department
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KJH:1ag:09-0 1-07 .cdc
COMMISSION MEETING AGENDA
MEETING DATE: 10/03/1994
Agenda Item Number: .3
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RESOLUTION NO.
RESOLUTION OF THE COMMUNITY DEVELOPMENT
COMMISSION OF THE CITY OF SAN BERNARDINO,
CALIFORNIA, APPROVING OF A CERTAIN LINE OF
CREDIT WITH FIRST INTERSTATE BANK OF
CALIFORNIA AND AUTHORIZING THE EXECUTION OF
CERTAIN DOCUMENTS IN CONNECTION THEREWITH
WHEREAS, the Redevelopment Agency of the City of San
Bernardino (the "Agency") is a public body corporate and politic,
organized and existing under and pursuant to the laws of the
State of California; and
WHEREAS, the Agency determined the need to enter into
a credit relationship with First Interstate Bank and on April 4,
1994, authorized staff to enter into negotiations to establish a
Line of Credit (the "Line of Credit"); and
WHEREAS, the Agency has final documents containing the
terms and conditions of the Line of Credit and desires to provide
for the execution of said documents at this time.
NOW, THEREFORE, THE COMMUNITY DEVELOPMENT COMMISSION
ACTING ON BEHALF OF THE REDEVELOPMENT AGENCY OF THE CITY OF
SAN BERNARDINO DOES HEREBY RESOLVE, DETERMINE AND ORDER AS
FOLLOWS:
Section 1.
The Recitals hereinabove are true and
correct and are incorporated herein by this reference.
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1 Section 2. The Agency is hereby authorized ..~
2 establish a Line of Credit with First Interstate Bank of
3 California up to $10,000,000.00 and to pledge securities as
4 collateral therefor.
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6 Section 3. The Agency Administrator, Acting
7 Executive Director, Secretary and other Agency officials as may
8 be authorized by the Chairman or Agency Administrator are
9 authorized to execute any and all documents required in
10 connection with the Line of Credit and the pledge of securities
11 in the forms on file with the Acting Secretary of the Agency and
12 as may be amended upon the recommendation of counsel to the
13 Agency and approved by the Acting Executive Director.
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RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CIT~ ~
SAN BERNARDINO, CALIFORNIA, APPROVING OF A CERTAIN LINE OF CREDIT
WITH FIRST INTERSTATE BANK OF CALIFORNIA AND AUTHORIZING THE
EXECUTION OF CERTAIN DOCUMENTS IN CONNECTION THEREWITH
Section 4.
The findings and determinations herein
shall be final and conclusive. This Resolution shall take effect
upon the date of its adoption.
I HEREBY CERTIFY that the foregoing Resolution was duly
adopted by the Community Development Commission of the City of
San Bernardino at a
meeting
thereof, held on the
day of
1994, by the following vote, to wit:
Commission Members:
AYES
NAYS
ABSTAIN
ABSENT
NEGRETE
CURLIN
HERNANDEZ
OBERHELMAN
DEVLIN
POPE-LUDLAM
MILLER
Secretary
day of
The foregoing resolution is hereby approved this
, 1994.
Approved as to
form and legal content:
By: ,\/!:,,/tf( \ I."l~
Agency CQ,nsel
Tom Minor, Chairman
Community Development
Commission of the
City of San Bernardino
SBEO\OOOl\OOC\1019
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STATE OF CALIFORNIA
COUNTY OF SAN BERNARDINO ss
CITY OF SAN BERNARDINO
I, Secretary of the Community
Development Commission of the City of San Bernardino, DO HEREBY
CERTIFY that the foregoing and attached copy of Community
Development Commission of the City of San Bernardino Resolution
No. is a full, true and correct copy of that now on
file in this office.
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the official seal of the Community Development Commission
of the City of San Bernardino this day of
, 1994.
Secretary of the
Community Development Commission
of the City of San Bernardino
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r,; First
f'....:I. Interstate
Bank
Flrsllnlerslale Bank
of California
Inland Empire Commercial Center
3750 University Avenue
Riverside, CA 92501
909 782-2608
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August 19, 1994
Kenneth 1. Henderson
Executive Director
Redevelopment Agency of the City of San Bernardino
201 North E Street
Third Floor
San Bernardino, CA 92401-1507
Dear Mr. Henderson:
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First Interstate Bank of California ("Bank") is pleased to approve the following credit arrangement
to the Redevelopment Agency of the City of San Bernardino ("Borrower").
TERMS AND CONDITIONS:
Borrower: Redevelopment Agency of the City of San Bernardino.
Facilities: $10,000,000 secured revolving line of credit.
Puroose: To provide funding for special projects for the Agency.
Exoiration: August 18, 1995.
Repayment
Schedule: Interest only payable monthly, principal due upon maturity.
Interest Rate: Borrower to have the following interest rate options:
A) Bank's prime rate less 0.625%.
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B) Advances based on a rate of interest quoted by the Bank (the "Agreed
Rate"), fixed for up to 180 days. Minimum advances of$500,OOO.00 and
in increments ofSl00,OOO.00 thereafter (Rate as of 8-19-94 for a 30 day
advance was 6.0625%).
IVe go the e.\.tra mile for you. .n
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Redevelopment Agency~ City of San Bernardino
August 19, 1994
Page 2
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None.
Compensating
Balances:
None.
Collateral:
All advances under the line of credit to be secured by marketable securities
acceptable to bank and held in Bank's possession. Advance rates on collateral are
as follows:
Collateral Tvoe
Loan to Value
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U. S. Government Securities Initial Advance Rate to be 90% on
securities with maturities of 18 months
and less. Initial Advance Rate to be
85% on securities with maturities of
more than 18 months and up to 5
years.
Corporate Bonds Initial Advance Rate depends on the
issuer. In general, 75% on bonds with
an S&P rating of AAA & AA, 70%
on A rated bonds and 65% on BBB &
Baa rated bonds.
At the time the Initial Advance Rate is established on securities, a Maintenance
Rate will also be established, which rate will be 10% higher than the Initial
Advance Rate (i.e. 100% on U.S. Government securities with maturities of 18
months and less.) lfthe loan to value ratio on the collateral exceeds the
Maintenance Rates established, Borrower is to reduce the loan to value to the
Initial Advance Rate by either pledging additional, acceptable collateral or by a
cash principal pay down, or a combination of both.
Borrower may also secure the loan with Bank certificates of deposit. The loan to
value will be 100% for First Interstate Bank certificates of deposit.
Other
Conditions:
I.
Borrower to provide Bank with annual, CPA-audited financial statements,
with an unqualified opinion, within 120 days of fiscal year end.
2.
Borrower to provide Bank with a signed opinion letter from the attorney
for the Redevelopment Agency of the City of San Bernardino, satisfactory
to Bank, acknowledging that the Agency is duly formed, validly existing,
and has the authority to enter into the transaction, borrow, pledge
collateral, and that the terms and conditions of the subject facility comply
with the bylaws of the Redevelopment Agency of the City of San
Bernardino.
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Redevelopment ~the City of San Bernardino
August 19,1994
Page 3
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3.
Borrower to provide a copy of minutes reflecting a Resolution adopted by
the City of San Bernardino City Counselor Board of the Redevelopment
Agency authorizing the subject credit fiu:ility and the tenus and conditions
of the credit filcility. The Resolution shall also state the individuals of the
Redevelopment Agency of the City of San Bernardino authorized to
execute First Interstate Bank documents related to the credit fiIcility.
This commitment letter is provided to you solely for the purposes described herein and may not be
disclosed to, or relied upon by, any other party without the prior written consent of First Interstate.
All tenus set forth in any note, guarantee, security agreement or other document executed in
connection with the fiIcilities provided herein or therein shall be in full force and effect. Any
breach of the terms of this letter agreement shall constitute a breach of any note or other agreement
executed in connection herewith, and shall entitle First Interstate to tenninate this filcility andlor
make demand for immediate payment in full of all obligations owed First Interstate,
notwithstanding any terms to the contrary set forth in such documents.
If the preceding is satisfilctory, please indicate your acceptance of this agreement by executing the
acceptance portion of this letter and returning it to Bank by August 31, 1994.
Thank you for this opportunity to be of service to you and your Agency. We highly value our
relationship with the Redevelopment Agency of the City of San Bernardino and look forward to
future opportunities to assist you.
Sincerely,
FIRST INTERSTATE BANK OF CALIFORNIA
CZt!fI--
Richard Madsen
Vice President
Assistant Vice President
Agreed to and accepted this day of . 1994.
REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO
/....
BY;~ I~>
....._~. .
Title:
BY:
Title:
.3
~ F"1ISf
"...:I. Interstate
Bar/<
o REVOLVING CREDIT NOTEO
(Prime, CD, Agreed & L1S0 Rates)
C
$
10.000.000.00
AUGUST 19. 1994
RIVERSIDE. CALIFORNIA
?,f;1":,E ~JIRI9JeRflE OPTIONS CONTAINED IN THIS NOTE, THE FOLLOWING ARE AVAIlABLE TO THE BORROWER:
On AUGUS:r 18$ 1995 (the 'Maturity Date'), for value received, the undersigned (incfntiduallv and collectively,
the 'Borrowe('I, JOintly and severaJlY, herebY promise to pay to the order of ARST INTERSTATE BANI< OF CAUFORNIA (the 'Bank') at
its ~RT!!:L _!!~~.!!..:. ~ - at :1?~~TV1P.RRT'I'Y AVJl:N1JR RTVRRgTnR. ~A 42507 , the
principal amount of TEN MILLION AND ~ . Dollars
($ ] 0 .000. oo::cr.O\!lthe 'Revolving nt'). or so much thereof as shall be outstanding on said date. If at any time the
amount outStanamg urIS Note shall eXceed the Revolving Commitment, the Borrower shaIllmmedi~ repay the Loans in an
amount sufficient to reduce the OUlSIanding baJance hereunder to an amount not In excess of the Revolving Commitment. Any such
repayment shall first be applied against OUlSIanding Prime Rate loans.
The Bank agrees, on the terms and conditions set forth herein, to make loans to the Borrower from time to time during the period from
the date hereof to and Including the Maturity Date In an aggregate amount not to exoeed the Revolving Commitment. A loan consisting
of (a) a CD Rate loan or a UBO Rate loan with an InterllSl Period of more than one year shall be In a minimum amount of One Million
Dollars ($1,ooo,ooo), (b) a CD Rate loan or a UBO Rate loan with an Interest Period of one year or less shall be In a minimum amount of
FIVe Hundred ThoUsaild Dollars ($500,ooo) and (c) an Agreed Rate loan shall be In a minimum amount of Fwe Hundred Thousand
Dollars ($500,ooo), or, In each case, an Integral multiple of One Hundred thousand Dollars ($100,ooo) above such applicable amount.
InterllSl on the unpald principal baJance sliall aocrue from the date of this Note as set forth herein. Prior to maturity and provided there
Is no default hereunder, the Borrower may borrow, repay and reborrow hereunder so long as the aggregate amount of advances does
not exoeed, after taking into conskIeration any proposed loan, the Revolving Commitment.
The following capltaflZed terms are defined as set forth below: .
'Agreed Rate': A rate per annum quoted by the Bank on the date of the loan and agreed to by the Borrower.
.Agreed Rate loans': loans hereunder at such time as the aecuring interest is bas8i:t upon an Agreed Rate.
'Assessment Rate': For any loan period, the net annual assessment rate estimated by the Bank to be in effect on the date of the
loan and payable by It to the Federal Deposit Insurance Corporation or any successor iFDIC'), for the FDIC's insuring time deposits
made In dollars at offices of the Bank in the United States.
'Base Rate' W4h respect to each Interest Period pertaining to CD Rate loans, the rate of Interest determined by the Bank to be the
prevailing rate per annum (rounded upward to the nearest 1/100 of 1%) bid at the time the Bank quotes the rate to the Borrower on the
first day of such Interest Period, by at least one certificate of deposit dealer of recognized standing selected by the Bank for the purchase
Oat face value from the Bank of Its certificates of deposit in an amount equal to or comparable to the CD Rate loan to which such Interest
Period applies and having a maturity equal to or comparable to such IMerest Period.
'Business Day': A day other than a Saturday, Sunday or any day on which commercial banks in Calffomia are authorized or
required by law to close.
'CO Rate': A rate per annum equal to the following:
Base Rate + AssessmeM Rate
1.00 - Reserve Percentage
; provided that, with respect to CD Rate loans in an amount less than One Million Dollars ($1,000,000), the rate per annum shall be the
rate quoted by the Bank's central money desk to the Bank's lending office.
'CO Rate loans': loans hereunder at such time as the accruing interest is based upon the CD Rate.
'Imerest Payment Date": (a) As to any Prime Rate loan, the Maturity Date and the LAST day of each month
. commencing on the first of such days to
occur after a Prime Rate loan is made or CD Rate loans, Agreed Rate loans or UBO Rate loans are converted to Prime Rate loans, (b)
as to any CD Rate loan, Agreed Rate loan or UBO Rate loanwnh an Interest Period of 30 daysor KIA month(s), as the
case may be, or less, the last day of such Interest Period and the Mat~7A Date, and (c) as to any CD Rate loan, Agreed Rate loan or
lIBO Rate loan with an Interest Period in excess of 30 days or month(s), as the case may be, (Q the lAST day of
each mnn+h
following the beginning of such Interest Period, (ii) the last day of such Interest Period and (iii) the Maturity Date.
'Interest Period': W4h respect to any Prime Rate loan, each day;
With respect to any CD Rate loan:
{ij initially, the period commencing on, as the case may be, the borrowing or conversion date with respect to such CD Rate loan
and ending 30 KIA days thereafter, as selected by the Borrower in Its notice of borrowing or Its notice of conversion, as
provided hereafter; and
(iQ thereafter, each period commencing on the last day of the next preceding Interest Period applicable to such CD Rate loan and
endin!13O HI A days thereafter, as selected by the Borrower in Its notice of continuation as provided hereafter,
wnh respect to any Agreed Rate loan:
{Q Initially, the period commencing on , as the case may be, the borrowing or conversion date with respect to such Agreed Rate
loan and ending on a date selected by the Borrower in Its notice of borrowing or Its notice of conversion, as provided hereafter, and
agreed to by the Bank; and
(ii) thereafter, each period commencing on the last day of the next preceding Interest Period applicable to such Agreed Rate loan
and ending on a date selected by the Borrower in Its notice of continuation, as provided hereafter, and agreed to by the Bank;
O With respect to any UBO Rate loan:
. (Q innially, the period commencing on , as the case may be, the borrowing or conversion date with respect to such lIBO Rate loan
and ending one H IA month(s) thereafter as selected by the Borrower in Its notice of borrowing or Its notice of
conversion, as provided hereafter, and
(iQ thereafter, each period commencing on the last day of the next preceding Interest Period applicable to such lIBO Rate loan
and endIng one N I A month(s) thereafter as sel!'cted by the Borrower in its notice of continuation as provided
hereafter; lII:f
provided, that all of the foregoing provisions relating to Interest Periods are subject to the following: -....I
Both principal and interest on this ~are payable in lawful currency of the Un~edaes of America without dedudion for or on
account of any present or future taxe ies or other charges levied or imposed on Note. The Borrower will pay the amounts
necc:essary such that the gross amount rincipal and interest received by the Bank shal be less than that required under this Nole.
All stamp and documentary taxes shall be paid by the Borrower. If, notwithstanding the foregoing, the Bank pays any such tax, the
Borrower will reimburse the Bank ueon demand for the amount so paid.
Any of the following shall constitute an event of defau~ under this Note whether committed by or against the Borrower, any enaorser
or any guarantor:
o Ban~) The nonpayment when due of principal or i: ,terest under this Note or any other obligation of any nature or description owed to the
(bl The dissolution or termination of ~ business or the death of any individual who is a Borrower, endorser or guarantor;
.lc The filing of any petition in bankruptcy or the commencement of any proceeding under bankruptcy, insolvency or other laws
retalillQ to the relief of debtors, or the readjustment of any indebtedness, e~her through reorganization, compos~ion, extension or
otherwase;
i The making of an assignment for the benefit of cred~ors;
e) The appointment of a receiver of any property;
f) Any seIZure, vesting of rights of or intervention by or under any authority of any govemment;
g) The entry of a judgment which, in the Bank's opinion, materially impairs the abil~ of any such party to meet ~ obligations to the
Ban '.
(h) The failure to furnish any financiaJ information upon the request of the Bank; '#
(0 Any material misrepr_ntation to the Bank in obtaining cred~ or the breach of any agreement with the Bank arising from or in
connedion with ~ extension of credit; or
(j) The i~1OO of any proceeding for which forfe~ure of any property is a potential pen~.
Upon the oocurrence of any event set forth in Ie) above, this Note and any other obligation owed to the Bank by the Borrower shall
beoome due and payable in full and the RevolVIng Comm~ent shall terminate. At any time after the oocurrence of any other event of
defau~ set forth above . this Note and any other oblillation owed to the Bank by the Borrower may, at the Bank's discretion, beoome
immediately due and payable In full and the Bank may Immediately terminate the Revolving Comm~nt.
If this Note is placed in the hands of an attorney for colledion, the Borrower, each endorser and each guarantor agrees to pay all
costs and expenses of the Bank, including reasonable attorneys' fees whether or not a su~ is brought "Reasonable attorneys' fees" shall
include reasonable attorneys' fees and allocated costs of in-house counsel incurred in any and all judicial, bankruptcy and other
proceedings (including appellate level proceedings) whether such proceedinl1s arise before or after entry Of a final judgment .' .
The Borrower, each endorser and each guarantor hereunder hereby W81ves diligence, presentment, demand, protest and notice of r '
any kind whatsoever. The right to plead any and all statutes of lim~ation as a defense to this Note or to any agreement to pay the same,
is hereby expressly waived by such parties to the fullest extent permitted by law. Add~ionally, such parties consent to the acceptance,
SUbst~lon, non-judicial foreclosure and/or release of any collateral securing this Note, whether now existing or hereafter acquired,
wi~hout in any way affeding such party's Iiabil~ to the Bank, irrespective of any elled on reimbursement, subrogation or contribution
rights or recoveries.
If this Note is at anytime secured by a Deed of Trust, the Deed ofTrust provides in part as follows:
If the Trustor shall sell, conveyor alienate said property or any part thereof, or any interest therein,
or shall be divested of t~le, or any interest therein, in any manner or way, whether voluntary or
involuntary, any indebtedness or obligation secured hereby, irrespective of the matur~ dates
O expressed in any note evidencing the same, at the option of the holder hereof, and w~hout demand
or notice, shall immediately become due and payable.
THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF CAliFORNIA.
REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO
Name of Borrower
(~
: . Signature
Signature
?n1 'NnvTR' II! fl:TRRR; rrR'TRn Il'T nn'll
Address
Signature
fl:BW _RR'NBRnTWn ~a Q?4n1
Signature
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ADDENDUM TO REVOLVING CREDIT NOTE
. (prime, CD, Agreed & USO Rates)
This Addendum to Revolving Credit Note is attached to and made a part of that
certain REVOLVING CREDIT N01E (prime, CD, Agreed & USO Rates) dated
August 19. 1994 , ("Note") to which it is' attached, and such Note is hereby
amended as follows:
1. Subsection (a) of the second full paragraph on Page 4 of the Note is hereby
deleted In its entirety and the following substituted therefore:
"(a) The nonpayment when due of principal or Interest under this Note or
nonperfonnance of any other obligation of any nature or description owed to
the Bank, and such nonpayment or nonperfonnance continues for ten (10)
days after Bank gives notice to Borrower of such nonpayment or
nonperfonnance;" .
2. The first sentence of the fourth full paragraph on Page 4 of the Note is hereby
deleted in its entirety and the following substituted therefore:
"Borrower, each endorser and each guarantor hereunder hereby waives
diligence, presentment, demand, protest and, except as expressly set forth
above, notice of any kind whatsoever.'
This Addendum to RevoMng Credit Note is executed and dated as of the date of the
Note to which it is attached.
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o LOAN DISBURSEMENT INSTRUCTIONS 0
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TO: FIRST INTERSTATE BANK OF CAUFORNIA DATE fTOTAL AMCllJI<T OF lllIW
AUGUS~ 19, 1994 s 10,000,000.00
We hereby instruct you to disburse the proceeds of this loan as LOAN NUMBER
llOSCOUNT
own below. S
ISSUE CASHlER'SOtECK(SJ AS FOU.OWS: :
REVOLVING LINE OF CREDI~ ro BE ADVANCED UPON CUSroMER'S REQUES~. is 10,000,000.00
.............................................................................................................................................................1.......................................
is
................................................................................................................................-.......................................t...........................................
j.
....._....................un..............................................nn................................................................................r.......................................
Loan Fee is
CREDIT ACCOUNT OF:
iYPE'OF.~Tc;iiiCREi:iTED'............!~NUMBER....................:OFFii.....................................................1
jlg. CHECICING 0 SAVINGS ix i it
" .
PAY BAlANCE OF EXISTING LOAN ~EXIST1NG LOAN NUMBER
S
PAYLtENT
AIJTHOAlZS) BY
REDEVELOP~ AGENCY OF THE CITY OF SAN BERNARDINO
Name oI8orTower
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CR-304 6/81 III First Interstate Bank
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STATEOFCAUFORN~ STATE OF CALIFORNIA
UNIFORM COMMERCIAL CODE-FINANCING STATEMENT-FOR~C-l (REV. 09/93)
. ~ORTANT-R..d Instruction. on back before IIlIlnV form FIRST INTERSTATE BANK OF CAUFORNIA
This Rnanclng Statement is presented for filln~ will remaln effective, with certain exceptions, for five years from the date of flllng, pursuant to Section 9403
of the California Uniform Commercial Code.
1A. SOCIAL SECUATY OR FEDERAL TAX NO.
1. DEBTOR (LAST NAME RRST-F AM INCXVIDlIA4
REDEVELOPNEJlT AGENCY OF THE CITY OF SAN BERNARDINO
rJ' -~ ,'C,,::.STAlE
2. ADOI11ONAL. DEBTOR CIF ANY) CLAST NAME RRST-F >>l1N0IVIDUAI.I
95-3669891
110. Z1Pcooe
.... I"'UM
2A. SOCIAL SECURI1Y OR FEDERAL TAX NO.
211. ........ AllOAESS
120. CITY, STATE
120. ZP lXXlE
3A.. FEOEFW. TAX NUMBER
:I. DEllTCA'S 1lWlE.......s OR srtU!S (IF AM')
4. SECUAED PARrY
NAME FIRST IJlTERSTATB IIANlt OF CALIFORNIA
_AllOAESS 37,50 UNIVERSITY AVEIIUB
CITY RIVERSIDB STAlE CA
.fA. SOCIAL SECUFITY NO.. FEDeJW. TAX NO.
. OR BANK1lY.NSIT MOA.S.A. NO.
ZPlXXlE 92507 16-21/1220
5. ASSIGNEE OF SECUAED PARrY fF AM')
.......
MAIUNCJ AllOAESS
CrTY STAlE ZIP cooe
6. This ANANClNG STATEMENT Is _ for a period of five yen from the date of filing and will lapse upon the expiration of the fiw.year period unless a
continuation statement Is filed prior III the lapse. and covers the following types or Items of property (Include deacrlptlon of real property on which
located and owner of record when requlred by InatrucUon 4):
H HCUfIly lor and In _ 0181 prssent and any future __ 0< Olhet' 00llgaU0ns deblo< hereby grants Rrsllnt....... Bank 01 Call1omla a 1OCUltIy_
In aD 01 tho following Iypeo 0< Ilems 0I_1n Which tho _.- haS 0< I1ereofter acquires any right. tIlIe. 0< In,...... 0< rigl1ls prosenI and lul..... __
Ioc:aIed and Whether In the p-;Tti1flOn Of the debtor, a warehouseman, bailee. tnJstee or any other person, and all Increases. therein and repI8cements. and proceecIS
-
SA. SOCIALSECUFITY NO..FEDEfW. TAXNO.
OR BANK mANSIT AND UA, NO.
SECURITIES IHVES~ AND/OR CUSTODY ACCOtlNT NUMBER 108341 IN TIlE NAME OF
REDEVELOPMENT AGENCY OF TIlE CITY OF SAN BERNARDINO MAINTAINED WITH FIRST INTERSTATE BANlt
OF CALIFORNIA AND/OR STANDARD CHARTERED BANlt AND ALL CONTENTS THEREOF, WBETIIER NOW
EXISTING OR BEREAFTER ACQUIRED, INCLtlOING, WITHOOT LIMITATION, ALL RELATED GENEllAL
o INTANGIBLES CERTIFICATED AND UNCERTIFICATED SEctlRITY AND CASH, AND ALL PROCEEDS THEREOF.
7. CHECl< 00 7"- G] PFOOUCTS OF COIJ.ATERAL 7B. OESTOR(S) SIGNATURE NOT RECUlRED IN ACCORDANCE WITH INSTRUCTION!5 ~ rrey:
F oU'PUCAlllE AlE ALSO CXlVelED 0(1) 0(2) 0(3) 0(4)
6.CHECK 00 o DEBTOR IS A -mANSMITTING UT1UlY" IN ACCOAOANCE: WITH UCC I 810!5 (11 (n). THIS FINANCING STATEMENT IS VAUD UN11.. A
F oU'PUCAlllE TERMINATION STATEMENT IS FII.EO.
S- DAlE: 08/19/94 C 10, THIS SPACE FOR USE OF AUNG OFFICER
0 (DATE. nME. ALE NUMBER
X 0 AND FlUNG OFFICER)
S1GNA'lUREiSI OF DESTOAiSI mna ~"NATUAEISl OF 0EBT0R1Sl mTlE1 E
REDEVELOPNEJlT AGENCY OF THE CITY OF 1
SAN BERNARDINO "iSI
TYPE OR PRINT NAME(S} OF 0EST0F1 2
3
S1GNATURE(SI OF SECUAED PARTY(IESJ 4
FIRST INTERSTATB IIANlt OF CALIFORNIA 5
'TYPE OR PAINT NAME(S} OF SECURED PARTY~ESI 6
.,
11. RETURN COP\' TO:
7
NAME I I 8
ADDRESS FIRST INTERSTATE BANlt OF CALIFORNIA
OrE P.O. BOX 3666, TERMINAL ANNEX 9 .
B10-6, LOS ANGELES, CA 90051
0
ZIP CODE L1974 ~
CCII
~) Filing Officer FO~C.1 .J
M$-336O (R _ 09/93) COPY-Acknowledg~ bymeS~~ofS'ote
STATE OF CAUFORNIA STATE OF CALIFORNIA
UNIFORM CO~RCIAl CODE-FINANCING STATEMENT-FORM ~1 (REV. 09/93)
I TANT-Read Instructions on back belore filling .....,J"m FIRST INTERSTATE IIAllK OF CAUFORHIA
This Rnancing Statement Is presented for filing an will remain effective, with certain exceptions, for five years from the date of filing, pursuant to Section 9403
01 the California Uniform Commercial Code.
1. DEBTOR f.M;fNAMEFIRST~AHINDM0UA4 1A. SOClAlSECURllYORFEDEAAL TAXHO.
DBVEI.OPNEIIT AGENCY OF TIlE CITY OF SlIJi' BERNARDINO 95-3669891
MAlLJNGADDRESS 1C. aTY,STAlE 10. ZPoooe
2. ADOmONAI. DEIIICR (II' AH'f) \lAST NAME FIAST'" AN",1lMllUALl
2A. SOCIAL SECURITY OR FEDERAL TAX NO.
2B. MAD..ING ADOFIESS 20. aTY, STATE
2D. Z1I' COOE
3. CEllTCR"S 1IWlE NAMES OR SI'/U!S IF AH'f)
3A. FEDEFW. TAX NUMBER
.. SECURED PARTY
NAME FIRST IHTERSTAD BlIJi'1t OF CALIFORNIA
MAIUNCIADORESS 3750 UJl'IVERSITY AVEIIUl!:
crrv RIVERSIDB STATE CA
5. ASSlClNEE OF """"""" PARTY /IF AH'f)
NAME
MAIJNCI ADORESS
crrv
4A. 80ClAL SECUFnY NO.. FEDERAL TAX NO.
. OR 8ANK1RANSIT MOA.8..A. NO.
Z1I'COOE 92507 16-21/1220
SA. SOCIAl. SECUFI1Y NO.. FEDERAL TAX NO.
OR BANK1RANSIT AND A.8.A. NO.
STATE
Z1I'COOE
.. This FINANCING STATEMENT Is _lor a period of five ~... from the date of filing and will lapse upon the expiration of the ~ar period unle.. s
oontinuation statement is filed prior to the lap... and oovera the following types or items of property ~ncIude deacrlpllon of real property on which
located and owner of _ when required by Instruction 4)'
As securtlyfor _In oonskleraUon '" elf _ _ any Munt ~ or OCher ob/lgeIlona debtor hereby grants Rrst _ Bonk '" Call1omla a securIIy ~
In elf '" Ihe IoIIowtng Iypea or lema '" _In wNchlhe debtor.- hU or _or ecqUllOS any rig"" _. or Interesl, or righla _-rue..... __
lOCeled _ whether In the pos....1on ollhe debtor. a -. bailee. Inlsl.. or any 0Uler peISOI1. _ elf Inc:nwes. Ihenlln _18plaeemenIs. _ __
-
SEctJlUTIES INVES'lMENT =/OR ctJSTODY ACCOUNT NOMBEll 108341 IN THE NllME OF
REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO MAINTAINED WJ:TB FIRST INTERSTATE BANK
OF CALlFOllNIA =/OR STANDARD CHARTERED BANK = ALL CONTENTS TBEU:OF, WlIETBER NOW
,..,pI STING OR BEREAFTER ACQOlRED, INCLUDING, WJ:TBOOT LIMITATION, ALL RELATED GENERAL
~NTANGmLES CERTIFICATED = UJl'CERTIFICATED SEctJRITY = CASH, = ALL PROCEEDS TBEU:OF.
7. CHECK 00 71>- GJ PA:JOUCTS OF 00lJ.ATERAI.. 78. DEBTOR($) SlGNAnJRE NOT REQUIRED IN AC:CXJFIOANCE WITH INSTRUC1lON 5 c-I ITEM:
IF APPLJC:.<SU; ARE ALSO COVERED 0(1) 0(2) 0(3) 0(4)
8.CHECK 00 o DEBTOAISA-n:lANSMrmNGunl.l'1'rINACCORCANCEWlTHUCC 18105 (11 (n). THIS FINANCING STATEMENTISVAUOUNT1.A
IF APPLJC:.<SU; TEFlMlNA110N STAlEMENT IS FILED.
9. DATE: 08/19/94 C 10. THIS SPACE FOR USE OF RUNG OFFICER
0 (DATE, TIME. FILE NUMBER
t. 0 AND RUNG OFFICER)
S1GNATUAElS) OF DEllTOA(S) mna S1GNATURElSl OF DE9TOR(SI mna E
REDEVELOPMENT AGENCY OF TIlE CITY OF 1
SlIJi' BERNARDINO
'TYPE OR PRINT NAU~ OF DEBTOR(S) 2
3
Sl3NATUFIE(S) OF SEOJREOPARTY~ES) 4
FIRST INTERSTATE BlIJi'1t OF CALIFORNIA 5
lYPE OR PRINT NAME{S) OF SECURED PAR1Y(tES) 6
1'. RETURNCOPYTO:
7
NAME I I 8
QRESS FIRST INTERSTATE BlIJi'1t OF CALIFORNIA
P.O. BOX 3666, TERMINAL lIJi'NEX 9
TE BI0-6, LOS lIJi'GELES, CA 90051
0
ZIP CODE L1974 ~
CCII ..5
~) Filing Officer FO~CC-'
COPY-Acknowledg~ byUMS~~o'Smm
MS.3360 (R . 09/931
I.
STATE OF CAlIFORNIA , STAD OF CALIFORNIA
. UNIFORM COMMERCIAl CODE.FINANCING STATEMENT-FORM UCC-l (REV. 09/93)
"RTANT-Road In.tructlon. on back belore "11In9('"\lorm FIRST INTERSTATE BANK OF CAUFORHIA
This Financing Statement ta presented for filing ~ will remain effective, with certain exceptions, for ~ars from the date of filing, pursuant to Seeton 9403
01 tho California Uniform Commercial Code.
1. 0ESlDR (l.A8l"NAME,...,.-lFAHINOMOUAIj
REDEVELOPMENT AGENCY OF TIlE CITY OF SAH BERNARDINO
QMAlIJNGAlXlAESlI
.. ..
2. """"""",,CEIITCA ,. AHYl (lASf NAME FIRST" ANINOMDUAQ
1A. SOCIAL seCUFITY OR FECSW. 7'M'HC.
95-3669891
11C. OTY. STATE
I ~..v
po. ZIP CODE
~. I "~'~1
2A. SOCIAL SEO.JAtTY OR FEDEfW. TAX NO.
2B. ........ AlXlAESlI
120. aTY, STATE
120. ZPCOOE
3A. FEDERAL TAXNtAtBER
3. 1lElITOfnl11WlE NAMES OR STYLES /!IF AHYl
.. SECURED PARTY
NAME FIUT IHTBRSTAD BAHlt OF CALIFORNIA
........AlXlRE8& 3750 UNIVERSITY AVEIIUB
COY JlI1lEKSIDB STATE CA
4A. SOCIAl. sect.RTY NO.. FBlERAL TAX NO.
OR BANKTRAHSIT NID A.B.A. NO.
ZPCOOE 92507 16-21/1220
5. ASSIGNEE OF aa::u<ED PN<rY "AHYl
NAME
........ AlXlAESlI
crrv STAlE ZIP cooe
8. Thi. AN1lNCING STATEMENT Is oIIoctlvo for a period 01 five ~ars 110m tho date 01 filing and will lapse upon tho .xpiration oIth. "_ar period unl... a
continuation stalomenlls filed prior 10 the 1apIo, and covera tho following typos or items 01 property (Include doocrlptlon 01 real property on which
located and __ 01 reoord when required by Inotructlon 4):
J>a socurtly lor and In.....-.an 01" present ancl any Iul"", _ er _ obllgaUons delXer IlOfol>y grants R...I_ Bank 01 CalWcmla a socurUy__
In all 01 tho IoIlowJng typso er noma 0I_1n WhICh Iho _ now hao er he_or acqulroo any right, litle, er lnt-. er r1gI1fs _ and lulu"" __
1Oc:aI0Cl and _In tho POO_1on CI tho dobler, a warohousoman, balloo, Inlst.. er any _ pofIOfl, and alllncroasoo, _n and ropIOComenIs, _ _
-
~ SOCIALSECUmY NO..FEDEIW. TAXNO.
OR BAHt( 1'RANSlT IN:J A..S.A. NO.
SECORI'.rIES DlVES'DG:NT AJ:lD/OR CUSTODY ACCOUNT NtJMBER 108341 IN THE NAME OF
REDEVELOPMENT AGENCY OF THE CITY OF SAH BERNARDINO MAINTAINED WITIl FIRST INTERSTATE BANK
OF CALIFORNIA AJ:lD/OR STAJ:lDARD CHARTERED BANK AJ:lD ALL CONTENTS THEREOF, WllETHER NOW
OEXISTING OR BEREAFTER ACQtJI:EtED, INCLtlDING, WITIlOtJ'l' LIMITATION, ALL RELATED GENERAL
INTANGIBLES CERTIFICATED AJ:lD tlNCERTIFICATED SECORITY AJ:lD CASH. AND ALL PROCEEDS THEREOF.
7. CHECK 00 GJ 78. DEBTOR(SJ S1GNAlUAE NOT REQUiReD IN ACCOAOANCE wmt INSTRUCTION 5 (III rTEM:
710. PROOUCTS OF CXlll.ATERAL
F APPlJCASU; ARE ALSO COIIERED 0(1) 0(2) o (3) 0(4)
8.CHECl< 00 o oesTORIS A--rRANSMITIlNGunuT'rINACCORCANCEwrrnucc1 9105 (1) (nl. THIS FINANCING STATeMENT lSVAUD UNTllA
F APPlJCASU; lEAMlNA110N STATEMENT IS FILED.
9. DATE: 08/19/94 C 10. THIS SPACE FOR USE OF RUNG OFFICER
,>( 0 (DATE. TIME. FILE NUMBER
0 AND FILING OFFICER)
"SlGNA'TUAEcst OF DEBTOR(SI mn.a SlGNAllJRElSI OF DEBTORISI /TITtB E
REDEVELOPMENT AGENCY OF TBE CITY OF 1
SAN BEIlHAltDnlO
'1YPE OR PRlNT1rlAME(B)OFDEBTOA(St 2
3
SlGNA'T1JRE(S) OF SECURED PARTY~ESI 4
FIRST IHTBRSTAD BAHlt OF CALIFORNIA 5
1YPE OR PRINT NAMEcst OF SECURED PARTY(lESI 6
11. RETURN COPY TO:
7
NAME I I 6
ADDRESS FIRST INTERSTATE BAHlt OF CALIFORNIA
OE P.O. BOX 3666, TERMINAL ANNEX 9
Bl0-6, LOS ANGELES, CA 90051
0
ZIP CODE Ll974 -1
CCII .J
JJ) Filing Officer FO~C-1
Copy-Acknowledg'llll bylhoSec.....'YoISI.,.
1.45-3360 . Cl9f931
STATE OF CAUFORNIA STATE OF CALIFORNIA
UNIFORM COMMERCIAL CODE-FINANCING STATEMENT-FORM UCc-, (REV. 09/83)
I~RTANT.Read In.trucUon. on ack before filling M""" FIRST INTERSTATE BANK OF CAUFORNIA
Thi. Rnonc1ng ~nll. preaented for filing -";wlll remain effective, with certain e.ception., for ~ara from the date of filing, PUlluant to SacUon 9403
of the Call10mla Unllorm Commercial Coda,
1. DEBTOR (LASTNAMEFASf-FN41ND1V101..1Aq 1A. SOCIALSECURTYORFED9W.TAK1C.
REDBVBLOPICBIlT AGBHCY OF TIIB CITY OF SAIl' BERNARDINO 95-3669891
O.......ACDRE8ll
..
2. ADDITIONALDeEITOA IFANV) (LASTHAMEFIRST-FAHINDMDUAI.J
re. :.STATE
... l'D. ZIPCOCE
2A. SOC&AL SEOJRITY OR FEOEFW. TAX NO.
2S. ....... ACDRE8ll
/200 CI1Y, STATE
120. ZIPCOCE
3A. FECEIW. TAX NUMBER
3. CSI1ClrS11WlE NAMEllOR IIMS f/F ""'I
4. SECUREDPARTY
NAME FIRST IIITERSTATE BAIfIt OF CALIFORNIA
.......ACDRE8ll 375D UIIIVERsITY AVEIIUB
em' llIVERSIDB "'AlE CA
5. ASSIGNEEOFlleClJREDPARIY "''''''I
NAME
....UNCI AIXlREllI
em'
4A. aoaAL 8ECtRTY NO.. FEDERAL TAX NO.
. OR BANK 1RAHSIT AND A.B.A. NO.
ZIPCOCE 92507 16-21/1220
SA. SOCIAL SEaJAITY NO.. FEDeRAL TAX NO.
OR BANK lRANSIT AND ASJA NO.
STATE
Z1PCOCE
6. Thl. ANANClNG STATEMENT I. _ for a period of five yeara from the date of filing and wllllapaa upon the expiration of the five-yaar period unle.. a
continuation _man! Is filacl prior to the 1ap8a, and covell the following typas or Items of property pncluda claacriptlon of real property on which
located And __ of reoord when required by Inalrucllon 4):
N; securtty lor and In _ 01 aJI..-.r and any IulUlll advanoaa or _ obIIgaIlons dallIor honlbV grants Rl>l Inl_ Bank 01 CalWornla e securtty__
In all 0I1ha following Iypes or IIems 01 property In _ Iha _ now has or _ acquires any right, title, or Interasl, or rights present and IutUlll, __
1ocaIed' and whether In the posnnkxl 0( the deblor. a warehOuseman. bailee, trustee or any other person. and aJl klcreases, therein and replacements, and proceeds
.......,
SECURITIES INVESDa:N'r AND/OR CUSTODY ACCOON'l' NOMBER 108341 IN TIlE NAME OF
REDEVELOPMENT AGENCY OF THE CITY OF SAIl' BERNARDINO MAINTAINED WITII FIRST INTERSTATE BANK
OF CALIFORNIA AND/OR STANDARD CHARTERED BANK AND ALL CONTBHTS TllEREOF. WBETIIER NOW
O EXISTING OR IIEREAFrER ACQUIRED, INCLODING. WITIIOlJ'l' LIMITATION, ALL RELATED GENERAL
INTANGIBLES CERTIFICATED AND tlNCERTIFICATED SECURITY AND CASH, AND ALL PROCEEDS TllEREOF.
7. CHECK 00 GJ 76. DESTOR(S) S1GNAlURE NOT REQUIRED IN ACCORDANCE W1TH INSTRUCTION 5 fa) ITEM:
7A. PRlDUCTS OF OOl.LATERAL
IF APl'UCAIIl.E ARE ALSO CO'IERED 0(1) 0(2) 0(3) 0(4)
6.CHECK 00 o OESTOR IS A -mANSMITTING unLJTr IN ACCORDANCE WITH uc:c I 01015 111 (nl. THIS FINANCING STAlEMENT IS VAIJO UN11l A
IF APl'UCAIIl.E TERMINATION STAlEMENT IS FILED.
9. OAlB 08/19/94 C 10. THIS SPACE FOR USE OF RUNG OFFICER
0 (DATE. TIME. RLE NUMBER
t 0 AND RUNG OffiCER)
SlGNA1\JRE1SI OF 0EIlT0R1SI ITl1U'l SlGNA1\JRE"" OF 0EIlT0R"" mna E
REDEVELOPMENT AGENCY OF TIIB CITY OF ,
SAN BERNARDINO
TYPE OR PRINT NAME(SJ OF DEBTOR(SJ 2
3
StGNA1URE(SJ OF SECURED PAR1Y(IESJ 4
FIRST INTERSTATE BANK OF CALIFORNIA 5
'M'E OR PRINT NAMEISI OF SECUREO PARIY'EllI 6
1,. RETURN COPYTO:
7
NAME I I 8
ADDRESS FIRST INTERSTATE BAIfIt OF CALIFORNIA
OTE P.O. BOll: 3666, TERNINAL ANNElI: 9
BI0-6, LOS ANGELES, CA 90051
0
ZIP CODE L1974 ~
CCII
JJ) Filing Officer FOEC-l ~
Copy-Acknowledg'llll by lhe __ry of SlaIe
"8-3380 .08/931
I
n F"nf
u. ,,.It..tate
Barlc
AC~UNT PLEDGE AND SECURITY A9EEMENT
(CUSTODIAL ACCOUNT)
o
THIS ACCOUNT PLEDGE AND SECURITY AGREEMENT, dated .I1m,...., Q .
by and among DRnIl!'VRT.nDllRU'l' an1l!U1"V n. 'I'R1I! ~T'I'Y' n. RaN' RII!RIIB.DnTVn
STAMDARD ,....D'I'InIRn .....,
INTERSTATE BANK OF CAUFORNIA. a Callfomla banking corporation ("Bank").
1QQA
Is entered Into
(Pledgor"),
("Custodian") and ARST
In conslderatlon of the mutual covenants and agreements contained herein, the parties hereto agree as follows:
1. DEFlNmONS.
,
1.1 Deflned Tenns. The following tenns shall have the following meanings:
"Account" shall mean the Account and the assets contained or recorded therein, including certlllcaled
and unoertiflcated securities, bonds. notes, shares, participations or other Interests In property or enterprises. owned and
maintained by Pledgor with Custodian. located at '7"'7 WTT .""T"" "T.vn Tn.. ......... ..... , ,..
and bearing account number 108341 ,as well as any replacement or substltutJon for such Account
and/or assets. A schedule reflecting the status and contents of the Account as of the date Indicated may be attached
hereto as Schedule A
"Account Agreement" shall mean collectively any agreement or agreements between Pledgor and
Custodian concemlng their respective rights and obligations In the Account In effect on this date, and all amendments and
modifications thereof.
o
"Agreement" shall mean this Account Pledge and Security Agreement as originally executed and as the
same may from time to time be amended or supplemented.
. "Collateral" shall have the meaning assigned to such term In Section 2 hereof.
"eligible Securities" shall mean all of the certificates of deposit and priced securilles and other assets
Qncluding cash) In the Account at any given lime which are certificated and/or entered on the books of the Account and are
deemed eligible by Bank, at its sole discretion.
"Minimum Account Equity" shall mean the minimum account equity from time to lime established In
accordance with Section 5 hereof.
"Obligations" shall mean ail of the Joint, several, present and/or future obligations and lIabUitles of
Pledgor to Bank including, without limitation, any guarantee executed by Pledgor guaranteeing the repayment of any
obligation owed Bank by any third party.
or ermlnalion Date" shall mean the effective date Bank terminates In writing its security Interest In the
Collateral and the Account, which date shall be noticed to Custodian In writing by Bank.
1.2 Undefined Terms. Each term not deflned herein, and each term partly defined herein to the extent not
defined, shall have the meaning given to it under the Callfomla Commercial Code.
2. GRANT OF SECURITY INTEREST. To secure all of the Obligations, Pledgor hereby assigns, transfers and
grants to Bank a security Interrest In and to (a) all of Pledgor's right, title and Interest In and to the eligible Securities and all
other assets contained or recorded In the Account, together with all additions to, replacements of or subslilutlons for such
Eligible Securities and other assets, and all Income, Interest and dividends (stock or otherwise) thereon, (b) the Account
and (c) all proceeds of any of the foregoing (all of the foregoing property herein called the "Collateral"). Pledgor agrees that
it will not create or permit to exist any liens, charges or encumbrances on or with respect to the Collateral, except as
created by this Agreement. It Is the Intention of the parties hereto and the purpose of this Agreement, to create In favor of
O Bank, a continuing, perfected, first priority security Interest In the Collateral Insofar as the Callfomla Commercial Code and
the laws of the United Slates are concemed.
M-200 3/94
-1 -
.3
This Agreement Is here~ecuted as of the date first above wrltteQ duly authorized representatives of the
parties. and shall be deemed to be entered into at Los Angeles, California.
o FIRST INTERSTATE BANK OF CAUFORNIA
(Bank)
By:
.J05.ta'1l R. RHYm5
TItle: ASST. VICE PRESIDENT
llRn1:!VRT .nP~ IlnP.Nrv nil' 'I'R1I! t'!T'I'V nIP ~AH BERHARDIHO
(1"'Ieogor}
\
/ ,
By: X/
Title:
By:
TItle:
STANDARD CHARTERED BANIt
(Custodian)
By:
(Pledgor)
By:
Title:
Title:
By:
By:
Title:
Title:
o
o
--4-
3
1_
o
o
o
SABO & GREEN
A PROPESSIONALCORPORATlON
ATTORNEYS AT LAW
SIlI11l :1039
238DI CALAIIASAS ROAD
CALABASAS, CALIFORNIA 91302
(818) 704-0195
ENCLOSURE MEMO
Date:
September 16. 1994
To:
Mike Trout
From:
Alexis G. Crump
Re: First Interstate Bank Letter of Credit
o
For your information
For your review and comment
Call upon receipt
Enclosed for signatures by the Agency are the Loan Documents for
the above referenced transaction. I will review the Federal Regulations on
Monday, September 19, 1994. We will also need to see the resolution
authorizing this transaction. Thereafter, we should be able to provide our
opinion.
Joe Rhyne of First Interstate believes we will be ready to close by
the middle of next week.
SBEODOO1.4
o
3