Laserfiche WebLink
CITY <br /> HOME LOAN AGREEMENT (COE) <br /> AMENDMENT #1 <br /> HopeWorks Station Residential <br /> WHEREAS, Housing Hope Properties executed a HOME Loan Agreement, dated May 7, 2018, <br /> for the HopeWorks Station Residential project; and <br /> WHEREAS, the parties wish to revise the City HOME Loan budget line items with this Amendment <br /> #1 to the HOME Loan Agreement with no change in the loan amount of Five Hundred Thousand <br /> Five Hundred and Thirty Seven Dollars ($500,537); and <br /> WHEREAS, Housing Hope Properties ("Agency/Assignor") assigned its obligations under the <br /> HOME Loan Agreement to HopeWorks Station Residential LLLP, a Washington limited liability <br /> limited partnership, ("Assignee"), pursuant to that certain Assignment, Assumption and Consent <br /> Agreement dated May 7, 2018, and recorded in the records of Snohomish County under recording <br /> number 201805080541; <br /> NOW, THEREFORE, in consideration of the mutual promises and agreements contained therein, <br /> the parties agree as follows: <br /> A. The Project Budget, (Exhibit B) is deleted in its entirety and replaced with Exhibit B-1 (attached <br /> and incorporated herein) to amend the HOME Loan budget line item details. <br /> B. The Report of Actual Expenditures, (Exhibit J), is deleted in its entirety and replaced with <br /> Exhibit J-1, (attached and incorporated herein), to amend the loan budget detail. <br /> C. All other terms and conditions of the Loan Agreement, Promissory Note, Deed of Trust, Use <br /> Restriction Covenant Agreement, and Assignment Assumption and Consent Agreement <br /> remain unchanged. <br /> [SIGNATURE PAGES FOLLOW] <br />