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~ "-::r RESOLUTION NO. 86-130 A RESOLUTION TO AMEND AN AS OF DECEMBER 1, 1985 BY NEW BRIGHTON AND FIRST AUTHORIZING THE EXECUTION CONNECTION THEREWITH INDENTURE OF TRUST DATED AND BETWEEN THE CITY OF TRUST COMPANY, INC. AND OF NECESSARY DOCUMENTS IN WHEREAS, by resolution adopted December 19, 1985 by the City Council (the "City Council") of the City of New Brighton, Minnesota (the "City"), the City has given its final approval to the issuance and delivery of its $4,500,000 Multifamily Housing Revenue Bonds (Park Place Apartments Project) (the "Bonds") dated as of December 30, 1985; WHEREAS, the proceeds of the Bonds have been loaned to Park Place Senior Housing Limited Partnership, a Minnesota limited partnership (the "Company") for the purpose of acquiring and constructing a multifamily housing project to be located in the City (the "Project"), all in accordance with Minnesota Statutes, Chapter 462C; WHEREAS, the City has entered into an Indenture of dated as of December 1, 1985 by and between the City and Trust Company, Inc. (the "Trustee") to provide, among things, for the issuance of the Bonds (as amended, "Indenture") ; Trust First other the WHEREAS, the Company has requested that the City and Trustee amend the Indenture to provide for an extension of time to June 1, 1987 for which certain events must occur specified in Section 307 of the Indenture of Trust; WHEREAS, the form of the Supplemental Indenture effecting the extension is attached hereto as Exhibit A; WHEREAS, it is expected all bondholders have or will consent to the amendment of the Indenture and bond counsel has or will deliver its opinion that such amendment and extension will not adversely affect the tax exempt status of interest on the Bonds; WHEREAS, the Company has executed a certificate evidencing its present intent to complete the Project. Such executed certificate is attached hereto as Exhibit B;