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111 111 <br /> CERTIFICATE AND RECEIPT FOR TAX ALLOCATION BOND AND CASH PAYMENT <br /> with reference to <br /> $5,455,000 <br /> Rancho Palos Verdes Redevelopment Agency <br /> Project Area No. 1 <br /> Tax Allocation Bond <br /> Issue of 1997 <br /> December 2, 1997 <br /> All capitalized terms not defined herein shall have the <br /> meanings assigned thereto in the Memorandum of Understanding <br /> ("MOU") dated as of November 1, 1997 by and among the County of <br /> Los Angeles (the "County") , the City of Rancho Palos Verdes (the <br /> "City") and the Rancho Palos Verdes Redevelopment Agency (the <br /> "Agency") . <br /> The County hereby acknowledges receipt of the Agency's <br /> Project Area No. 1, Tax Allocation Bond, Issue of 1997, in the <br /> principal amount of $5,455,000. <br /> The County further acknowledges receipt of a cash <br /> payment from the Agency in the amount of $4,545,000. <br /> The County further acknowledges that all of the <br /> conditions set forth in Section 2 and Section 3 (A) of the MOU <br /> have been satisfied and hereby certifies that it has duly <br /> cancelled the Bond in accordance with law and will take all <br /> necessary or appropriate action to eliminate the Assessments and <br /> remove the lien thereof. <br /> COUNTY OF LOS ANGELES <br /> By• �- c <br /> 971125 R6876-00001 gp 1673093 1 <br /> - 1 <br />