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CORPORATE RESOLUTION TO GRANT COLLATERAL
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<br />References n the shaded area are for Lender's use on y and do not limit the applicability of th~s docurr~'lt to any particular lean or ~tem.
<br /> Any item above containing ...... has been omitted due to text length limitations.
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<br />Borrower:
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<br />TOAD IN THE HOLE TAVERN & GRILLE, INC.
<br />27340 OCEAN DUNES STREET
<br />MORENO VALLEY, CA 92555
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<br />Lender:
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<br />Inland Empire National Bank
<br />3727 Arlington Ave
<br />Suite 202A
<br />Riverside, CA 92506
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<br />Corporation: THE REDEVELOPMENT AGENCY OF THE CITY OF
<br /> RIVERSIDE
<br /> 3900 MAIN ST. 5'FH FLOOR
<br /> RIVERSIDE, CA 92522
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<br /> WE, THE UNDERSIGNED, DO HEREBY CERTIFY THAT:
<br /> THE CORPORAT ON'S EX STENCE. The completa and correct name of the Corporatien is THE REDEVELOPMENT AGEN~ OF/~THE CITY OF
<br /> RIVER~ DE ('Comoration"~ The Corporation i~ ,, r~..~.?.~,~ ~. ~m~;, ,A,h!C~ is, and at ell times shell be duly organized, velidiy)~/~i~.~, a, nd in good
<br /> standin under and by v rtue of the laws of the State of Califom~a. T~c C~,. ............. , .................................. .g~z~ ~'" ...... 7'"~"
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<br /> · ~A'IN ST. 5TH FLOOR, RIVERSIDE, CA 92522. Unless the Corporation has designated otherwise in writing, the poncipal~ff~ea ~s the office at which
<br /> the Corporation keeps its books and records. The Corporafien will notify Lender prior to any change in the lesetion of the Corporation's state of
<br /> organization or any change in the Corporation's name. The Corporation shall do ell things necessary to preserve and to keep in full force and effect its
<br /> existence, rights and privileges, and shall comply with all regulations, rules, ordinances, statutes, orders and decrees of any governmental or
<br /> quasi-gavemmental authority or courf applicable to the Corporation and the Corporation's business activities.
<br /> RESOLUTIONS ADOPTED. At e meeting of the Directors of the Corporation, or if the Corporation is a close corporation having no Board of Directors
<br /> then at e meeting of the Corporation's shareholders, duly called and held on August 2~, 2603, at ~which a quorum was present and voting, or by other
<br /> duly euthorized action in lieu of a meeting, the resolutions set forth in this Resolution were adopte~
<br /> OFFICE.. Thefo,ow,ngnemed person ,s en officer of THE REDEVELOPMENT AGENCY Obd ' /R,VERS,DE
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<br /> ~E CARAVALHO E--x-'~utecut lye Director ~ X/~1~
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<br /> ACTIONS AUTHORIZED. The authorized person listed above may enter into a.~ a~,ee~.ents of any nature '~ith Lender, and those.agraements will
<br /> bind the Corporation. Specifically, but w;thout hmitat~on, the authonzed person ~ a.~/..a, pthenzed, empowered, and directed to do the following for and on
<br /> behalf of the Corporation:
<br /> Grant Security. To mortgage, pledge, transfer, endorse, hypothecate, or otherwise encumber and deliver to Lender any property now or
<br /> hereafter peionging to the Corporation or in which the Corporation now or hereafter may have an interest, including without limitation all of the
<br /> Corporation's real property and all of the Corporation's personal property (tangible or intangible), as security for the payment of any loans, any
<br /> promissory notes, or any other or further indebtedness of TOAD IN THE HOLE TAVERN & GRILLE, INC. to Lender at any time owing, however the
<br /> same may be evidenced. Such property may be mortgaged, pledged, transferred, endorsed, hypothecated or encumbered at the time such leans
<br /> are obtained or such indebtedness is incurred, or at any other time or times, and may be either in addition to or in lieu of any property theretofora
<br /> martgaged, pledged, transferred, endorsed, hypothecated or encumbered. The provisions of this Resolution authorizing or relating to the pledge,
<br /> mortgage, transfer, endorsement, hypothecation, granting of a senurity interest in, or in any way encumbering, the assets of the Corporation shall
<br /> include, without limitation, doing so in order to land collateral security for the indebtedness, now or hereafter existing, and of any nature
<br /> whatsoever, of TOAD IN THE HOLE TAVERN & GRILLE, INC. to Lender. The Corporation has considered the value to it. self of lending eallateral in
<br /> support of such indebtedness, and the Corporation represents to Lender that the Corporation is benefited by doing so.
<br /> Execute Security Documents. To execute and deliver to Lender the forms of mortgage, de~:t of trust, pledge agreement, hypothecation
<br /> agreement, and other security egreernents and financing statements which Lender may require and which shall evidence the terms and conditions
<br /> under and pursuant to which such liens and encumbrances, or any of them, are given; end also to execute and deliver to Lender any other wdtten
<br /> instruments, any chattel paper, or any other cellateral, of any kind or nature, which Lender may deem necessary or proper in connection with or
<br /> pertaining to the giving of the liens end encumbrances.
<br /> Further Acts. To do and perform such other acts and things and to execute and deliver such other documents and agreements as the officer
<br /> may in his or her discretion deem reasonably necessary or proper in order to carry into effect the provisions of this Resolution.
<br /> ASSUMED BUSINESS NAMES. The Corporation has filed or recorded all documents or filings required by law relating to all assumed business names
<br /> used by the Corporation. Excluding the name of the Corporation, the following is e complete list of all assumed business names under which the
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<br /> NOTICES TO LENDER. The Corporation will promptly notify Lender in writing at Lender's address shown above (or such other addresses as Lender
<br /> may designate from time to time) prior to any (A) change in the Corporation's name; (B) change in the Corporation's assumed business name(s); (C)
<br /> change in the management of the Corporation; (D) change in the authorized signer(s); (E) change in the Corporation's principal office address; (F)
<br /> change in the Corporation's state of organization; (G) conversion of the Corporation to a new or different type of business entity; or (H) change in
<br /> any other aspect of the Corporation that directly or indirectly relates to any agreements between the Corporation end Lender. No change in the
<br /> Corporation's name or state of organization will take effect until after Lender has received notice
<br /> CERTIFICATION CONCERNING OFFICERS AND RESOLUTIONS. The officer nsmed above is duly elected, appointed, or employed by or for the
<br /> Corporation, as the case may be, and occupies the position set opposite his or her respective name. This Resolution now stands of record on the
<br /> books of the Corporation, is in full force and effect, and has not been modified or revoked in any manner whatsoever.
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<br /> NO CORPORATE SEA!-. The Corporation has no corporate seal, and therefore, no seal is affixed to this Resolutien.
<br /> CONTINUING VALIDITY. Any and all acts authorized pursuant to this Resolution and performed prior to the passage of this Resolution are hereby
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