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Home My WebLink AboutCAG2001-0552 - Amendment - #A - Public Works Board - Public Works Trust Fund PW-01-691-032 - 06/23/2010 :3 Records Mia-rydgerneAnt�KENT �� ° Document WA5 HINOTON s' CONTRACT COVER SHEET This is to be completed by the Contract Manager prior to submission to City Clerks Office. All portions are to be completed. If you have questions, please contact City Clerk's Office. Vendor Name: Public Works Board Vendor Number: JD Edwards Number Contract Number: This is assigned by City Clerk's Office Project Name: Loan Agreemen Number: PW-02-691-032 Description: ❑ Interlocal Agreement ❑ Change Order ® Amendment ❑ Contract ❑ Other: Contract Effective Date: 6/23/10 Termination Date: 7/1/22 Contract Renewal Notice (Days): Number of days required notice for termination or renewal or amendment Contract Manager: Tim LaPorte Department: Engineering Detail: (i.e. address, location, parcel number, tax id, etc.): The amendment deletes the onginal Acceleration Provisions of the Loan Agreement. S•Public\RecordsManagement\Forms\ContractCover\adcc7832 1 11/08 v AMENDMENT FACE SHEET Loan Number: PW-01-691-032 Amendment Number: A Washington State Department of Commerce PUBLIC WORKS BOARD PUBLIC WORKS TRUST FUND 1. Contractor 2. Contractor Doing Business As (optional) City of Kent N/A 400 W Gowe Kent, WA 98032 3. Contractor Representative (only if updated) 4. Public Works Board Representative(only if updated) N/A N/A 5. Original Contract Amount 1 6. Amendment Amount 7. New Contract Amount $10,000,000.00 N/A N/A 8. Amendment Funding Source 9.Amendment Start Date 10. Amendment End Date Federal: ❑ State: 0 Other: ❑ N/A: ❑ Amendment Execution Date July 1, 2021 11. Federal Funds (as applicable): Federal Agency: CFDA Number: N/A N/A N/A 12. Amendment Purpose: The purpose of this amendment is to revise the Default in Repayment Section of the Public Works Trust Fund Loan Number PW-01-691-032 The Board defined as the Washington State Public Works Board, and Borrower/Contractor acknowledge and accept the terms of this Agreement/Contract As Amended and have executed this Agreement/Contract Amendment on the date below to start as of the date and year referenced above The rights and obligations of both parties to this Agreement/Contract As Amended are governed by this Agreement/Contract Amendment and the following other documents incorporated by reference Amendment Terms and Conditions A copy of this Agreement/Contract Amendment shall be attached to and made a part of the original Agreement/Contract between the Board and the Borrower/Contractor Any reference in the original Agreement/Contract to the"Agreement" or the "Contract" shall mean the"Agreement As Amended" or "Contract As Amended," respectively FOR THE BORROWER/CONTRAC�TORR FOR PUBLIC WORKS BOARD Sign Vq;1W6Ee n LaRo e, Exe utive Director 5 zCooke Z5 /O Pr nt Name Date Mayor Title APPROVED AS TO FORM ONLY This 18t" Day of December, 2008 Date Rob McKenna Attorney General Signature on File Kathryn Wyatt Assistant Attorney General City of Kent Page 1 Acceleration Removal Amendment PW-01-691-032 6/1/2010 Public Works Trust Fund AMENDMENT TERMS AND CONDITIONS PUBLIC WORKS BOARD PUBLIC WORKS TRUST FUND The purpose of this amendment is to revise the Default in Repayment Section of the Public Works Trust Fund Loan Agreement/Contract Number PW-01-691-032 This amendment is to delete the"Acceleration Provisions" in the Loan Agreement/Contract Number PW-01-691-032 that allows the Board, in certain circumstances, to declare the entire remaining balance of a loan, together with accrued interest, immediately due and payable The Public Works Board(or its successor), a department of the State of Washington, (hereinafter referred to as the"Board") and City of Kent(hereinafter referred to as the "Borrower/Contractor") agree to amend Public Works Trust Fund Loan Agreement/Contract Number PW-01-691-032 as described below - Default in Repayment Section of Loan Agreement/Contract Number PW-01-691-032 is amended to read as follows Loan repayments shall be made on the loan in accordance with Repayment Section of this Agreement/Contract A payment not received within thirty (30) days of the due date shall be declared delinquent Delinquent payments shall be assessed a monthly penalty beginning on the first (1st) day past the due date The penalty will be assessed on the entire payment amount The penalty will be one percent(1%) per month or twelve percent (12%) per annum The same penalty terms shall apply at project completion if the repayment of loan funds in excess of eligible costs are not repaid at the time of the Project Completion Amendment is submitted, as provided for in the Protect Completion Amendment and Certified Protect Completion Report Section The Borrower/Contractor acknowledges and agrees to the Board's right, upon delinquency in the payment of any annual installment, to notify any other entity, creditors, or potential creditors of the Borrower/Contractor of such delinquency ,The Borrower/Contractor shall be responsible for all legal fees incurred by the Board in any action undertaken to enforce its rights under this section City of Kent Page 2 Acceleration Removal Amendment PW-01-691-032 6/1/2010 Public Works Trust Fund REQUEST FOR MAYOR'S SIGNATURE • Please Fill in All Applicable Boxes K E N T W RSHIN GTON This form must be printed on cherry paper Routing Information (ALL REQUESTS MUST FIRST BE ROUTED THROUGH THE LAW DEPARTMENT) Originator: Tim LaPorte Phone (Originator) 5515 Date Sent 6/11/10 Date Required. 6/18/10 Return Signed Document to- Nancy Yoshitake CONTRACT TERMINATION DATE: 7/1/21 VENDOR NAME: Public Works Board DATE OF COUNCIL APPROVAL: 4/3/01 Brief Explanation of Document- The attached Amendment A to the Public Works Trust Fund Loan Agreement (#PW-01-691-032) is necessary to delete the Acceleration Provisions (Default in Repayment)of the Loan Agreement Also attached is a copy of the original agreement 4 All Contracts Must Be Routed Through the Law Department (This Area to be Completed By the Law Department) RECEIVE® Received: Approval of Law Dept Law Dept Comments JON I 1 Uill City of Kent KENT LAW [J Office of the Mayor Date Forwarded to Mayor- Shaded Areas to Be Completed by Administration Staff Received: Recommendations & Comments- Disposition. b Z--ill Date Returned: Iage5870_templatebase • 2/07 L� �( 416,