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Home My WebLink AboutCAG2002-0983 - Amendment - #A - Public Works Board - Public Works Trust Fund PW-02-691-024 - 06/23/2010 Records M �a em_e�i ® KENT n Docume t WASHINGTDN - 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: pw/® - 1 81 This is assigned by City Clerk's Office Project Name: Loan Acireemen Number: PW-02-691-024 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 onglnal Acceleration__Provisions of the Loan Agreement. S:Pub lic\RecordsManagement\Forms\ContractCover\adcc7832 1 11/08 AMENDMENT FACE SHEET Loan Number: PW-02-691-024 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 NIA 5. Original Contract Amount 6.Amendment Amount 7. New Contract Amount $10,000,000 00 N/A NIA 8.Amendment Funding Source 9.Amendment Start Date 10.Amendment End Date Federal: ❑ State: Q Other: ❑ N/A:�E] Amendment Execution Date July 1, 2022 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-02-691-024 The Board, defined as the Washington State Public Works Board, and Borrower/Contractor acknowledge ar iJ acuupz:,-.e tee rns ui this Agreement/Cuntra„i As Amendeu and nave executed tnis Agreeinent/Gontract 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/CONTRACTOR FOR PUBLIC WORKS 4PARD Sign at n LaRocqu , xecutiv erector Suz e Cooke Z 5PI-I 0 Print Name Date l4ayor Title APPROVED AS TO FORM ONLY 4 e21 l0 This 18"' Day of December, 2008 Date Rob McKenna Attorney General Signature on File Kathryn Wyatt Assistant Attorney General City of Kent Pagel Acceleration Removal Amendment PW-02-691-024 6/1/:0;0 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-02-691-024 This amendment is to delete the "Acceleration Provisions" in the Loan Agreement/Contract Number PW-02-691-024 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 (of 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-02-691-024 as descnbed below Default in Repayment Section of Loan Agreement/Contract Number PW-02-691-024 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 Ctrttfteci Project Cumwction Report Secton The Borrower/Contractor acknowledges and agrees to the Board's right, upon delinquency to 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-02-691-024 6/1/2010 Public Works Trust Fund REQUEST FOR MAYOR'S SIGNATURE s Please Fill in All Applicable Boxes KENT 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: 711122 VENDOR NAME: Public Works Board DATE OF COUNCIL APPROVAL: 3/5/02 Brief Explanation of Document. The attached Amendment A to the Public Works Trust Fund Loan Agreement(#PW-02-691-024) is necessary to delete the Acceleration Provisions (Default in Repayment) of the Loan Agreement Also attached is a copy of the original agreement All Contracts Must Be Routed Through the Law Department (This Area to be Completed By the Law Department) Received '� .......... � � �U Approval of Law Dept JI Law Dept Comments _, ' a Date Forwarded to Mayor: Shaded Areas to Be Completed by Administration Staff Received: Recommendations & Comments: Disposition #�1 l6 Date Returned: r G�Z2V/0 La-S Iage5870_templatebase • 2/07