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RECORDER No. 2001-0960201 Page 1 of 2 MARICOPA COUNTY RESOLUTION AUTHORIZING THE CHAIRMAN OF THE BOARD OF SUPERVISORS TO EXECUTE AN ASSIGNMENT OF PROMISSORY NOTE AND THE DEED OF TRUST REGARDING LOAN AGREEMENT RECORDED IN THE RECORDS OF THE MARICOPA COUNTY RECORDER No. 2001-0960201 (RESOLUTION C-22-20-053-M-00) WHEREAS, pursuant to Arizona Revised Statutes §§ 11-201(2) and 11-201(4) the County entered into an Urban Maricopa County Loan Agreement (Agreement”) with Mesa Broadway Properties, Limited Partnership by Mesa Community Housing Development LLC (“Mesa”), approved by the Board of Supervisors on May 2, 2001 and recorded in the records of the Maricopa County Arizona Recorder at Recorder No. 2001-0960201; and WHEREAS, pursuant to said Agreement, the County did lend to Mesa the sum of Four Hundred Thousand Dollars ($400,000.00) as evidenced by a Promissory Note dated on or about October 16, 2001, and all amendments or restatements thereof (“Note”); and WHEREAS, said Note is secured by a Deed of Trust dated on or about October 16, 2001, having Mesa as Trustor and the County as Beneficiary, recorded on October 16, 2001 as part of the Agreement (the “Deed of Trust”); and WHEREAS, said Promissory Note carries payments of interest only with the full principle amount due and payable not later than November 1, 2022; and WHEREAS, Charter Oak Mortgage & Investment Company, LLC, a Connecticut limited liability company, has offered to purchase said Note, together with an assignment of all rights to the Deed of Trust, by paying the Note in full immediately, representing an acceleration of the full payment by some two years; and WHEREAS, it is in the interest of the County to obtain payment in full early so that those funds may be used to provide additional affordable housing to citizens of the County, NOW, THEREFORE, BE IT RESOLVED that the Maricopa County Board of Supervisors does hereby affirm, ratify and grant to the Chairman of the of the Maricopa County Board of Supervisors the authority to execute, on behalf of Maricopa County, an assignment of said Note and an assignment of the Deed of Trust, upon payment in full of the face amount of said Note in the amount of Four Hundred Thousand Dollars ($400,000.00) provided that: 1. The assignment documents shall be in form acceptable to and approved by the Maricopa County Attorney’s office; and 2. Said assignments shall be without recourse against the County; and RECORDER No. 2001-0960201 Page 2 of 2 3. Said assignments shall contain an affirmative responsibility and obligation on the part of the Assignee as to all matters contained in the Agreement. Chairman Date Attest: Clerk of the Board Date