Volunteers of America Western Washington 11/12/2019

(collectively, the "City CDBG Documents"). The Loan Agreement provided a loan in the amount of$250,000, which was evidenced by the Promissory Note and secured by the Deed of Trust. Section 1 of Exhibit C to the Loan Agreement states: This grant shall be considered a loan with principal and interest due Twenty-five years from the date of closing. All payment will be deferred as long as the property is used as a food bank and food distribution center as per this contract. Should this property use change, or the terms of this contract not be upheld the City of Everett may at its option, require immediate payment in full of all sums lent plus interest. At the end of twenty-five years the loan will be forgiven 100% principal and interest. After using the property as a food bank and food distribution building for 20 years, the Agency desires to sell the building and continue its mission by providing "mobile" food bank services to the community. Because the property was operated as a food bank and food distribution center for 20 of the 25 years required by the Loan Agreement, the City has determined to forgive 20/25 of the loan principal and accrued interest, all as set forth below. All capitalized terms that are used, but are not defined, in this Agreement will have their respective, applicable meanings as set forth in the City CDBG Documents. Accordingly, the Grantor and the Grantee agree to the following regarding the City CDBG Documents: 1. A new Section 7 is hereby added as follows to Exhibit C of the Loan Agreement, Exhibit C of the Promissory Note, and Exhibit C of the Deed of Trust: As of the Effective Date of the Omnibus Amendment, $200,000 of the principal amount of the loan provided under this Agreement is forgiven, thereby reducing the loan principal amount from $250,000 to $50,000. All loan interest accrued prior to the Effective Date of the Omnibus Amendment is also forgiven. Volunteers of America shall repay the remaining $50,000 principal, together with 3% simple interest. This interest will begin to accrue on such $50,000 on the Effective Date of the Omnibus Amendment. The $50,000 principal and accrued interest shall be due and payable in full on July 23, 2024. Notwithstanding any of the above terms and conditions of this paragraph, No. 1, Volunteers of America shall have the right to pay the $50,000 principal and accrued interest at any time prior to July 23, 2024. Such payment shall be in the amount of $50,000 plus simple interest at 3% calculated to the date of the actual payment. This new Section 7 controls all provisions in the Loan Agreement, Promissory Note, and Deed of Trust and supersedes any such provisions to the contrary. First Omnibus Amendment Page 2