Laserfiche WebLink
"City’s Percentage" with reference to the Residual Receipts, shall mean aggregate <br />percentage of twenty-seven percent (27%) of the total Residual Receipts from the <br />Property, which shall be applied to the HOME Loan, CDBG Loan, and <br />Inclusionary Loan, as further described in Section 5 hereof.” <br /> <br />5. Section 5, Annual Loan Repayment/Residual Receipts, subsection (d), in Exhibit <br />D, First Amended and Restated Inclusionary Promissory Note, of said CDBG <br />Loan Agreement shall be amended to replace the residual receipts matrix with the <br />following: <br /> <br /> <br />SOURCE PERCENTAGE <br />CDBG Loan 1.64% <br />HOME Loan 8.64% <br />Inclusionary Housing Loan 15.70% <br />State of California Housing and Community <br />Development Affordable Housing Loan 16.25% <br />CalHFA SNHP Loan 7.77% <br />TOTAL 50.00% <br /> <br />6. Exhibit F, CDBG Promissory Note, of said CDBG Loan Agreement shall be <br />amended to delete the definition of “City Share” in its entirety and replace with <br />the following: <br /> <br />"City’s Percentage" with reference to the Residual Receipts, shall mean aggregate <br />percentage of twenty-seven percent (27%) of the total Residual Receipts from the <br />Property, which shall be applied to the HOME Loan, CDBG Loan, and <br />Inclusionary Loan, as further described in Section 5 hereof.” <br /> <br />7. Section 5, Annual Loan Repayment/Residual Receipts, subsection (d), in Exhibit <br />F, First Amended and Restated CDBG Promissory Note, of said CDBG Loan <br />Agreement shall be amended to replace the residual receipts matrix with the <br />following: <br /> <br />SOURCE PERCENTAGE <br />CDBG Loan 1.64% <br />HOME Loan 8.64% <br />Inclusionary Housing Loan 15.70% <br />State of California Housing and Community <br />Development Affordable Housing Loan 16.25% <br />CalHFA SNHP Loan 7.77% <br />TOTAL 50.00% <br /> <br /> <br />AKEXHIBIT 1