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25B - AGMT - AMEND LOAN AGMT SA VETS
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25B - AGMT - AMEND LOAN AGMT SA VETS
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7/11/2019 4:59:41 PM
Creation date
7/11/2019 4:57:30 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
25B
Date
7/16/2019
Destruction Year
2024
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EXHIBIT 4 <br />FIRST AMENDMENT TO HOME LOAN AGREEMENT <br />THIS FIRST AMENDMENT TO HOME LOAN AGREEMENT dated, for <br />identification purposes only, as of July 16, 2019, is made and entered into by and between the <br />CITY OF SANTA ANA, a charter city and municipal corporation ("City") and SANTA ANA <br />VILLAGE LP, a California limited partnership ("Developer'), with reference to the following: <br />RECITALS: <br />A. The City and Developer entered into a HOME Loan Agreement dated August 21, <br />2018, and recorded in Official Records, Orange County, with filing number <br />2018000341750 on September 18, 2018 ("said HOME Loan Agreement'. <br />B. The purpose of said HOME Loan Agreement is to assist with the development of a <br />seventy-six (76) unit residential housing development, including seventy-five (75) <br />permanent supportive housing units, with wrap -around support services for <br />homeless veterans, located at 3312 W. First Street, Santa Ana, California, and <br />commonly referred to as the Santa Ana Veterans Village ('Project'). <br />C. In accordance with the terms and conditions of said HOME Loan Agreement, the <br />parties desire to amend said HOME Loan Agreement, including the Scope of Work <br />and Project Budget, to increase the amount of HOME funding provided by the City <br />to Developer for the Project, and to update the mix and requirements for the HOME <br />assisted units, as necessary. <br />NOW, THEREFORE, for and in consideration of the mutual covenants and agreements <br />herein contained, and subject to the terms and conditions of said HOME Loan Agreement, except <br />as herein modified, City and Developer agree as follows: <br />Section 1.1, Definitions and Interpretations, of said HOME Loan Agreement shall <br />be amended to increase the amount of HOME funds in the definitions of <br />"City/HOME Loan Note" by $124,383.00 from "$352,962.90" to "$477,345.90." <br />2. Section 3, Scope of Work/Project Budget, of said HOME Loan Agreement shall be <br />amended to append the "Scope of Work" attached to said HOME Loan Agreement <br />as Exhibit B by adding the "I" Amendment to Scope of Work" attached herewith <br />as Exhibit 1. <br />Section 3, Scope of Work/Project Budget, of said HOME Loan Agreement shall be <br />amended to replace the first page of the "Project Budget" attached to said HOME <br />Loan Agreement as Exhibit C with the "Project Budget" attached herewith as <br />Exhibit 2. <br />4. Section 5, Loans, subsection (A)(1), of Said HOME Loan Agreement shall be <br />amended to increase the amount of HOME funds by $124,383.00 from <br />"$352,962.90" to "$477,345.90." <br />25B-12 <br />
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