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Home My WebLink AboutCAG2003-0539 - Amendment - #B - Public Works Board - Public Works Trust Fund PW-03-691-PRE-108 - 10/15/2014 i 01 r d s E' E + KENT >ra Document W q9 HINOTON e.m. , 2 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: N/A JD Edwards Number Contract Number: YWAW2A_ LIB This is assigned by City Clerk's Office Project Name: al-zree.;°l �r� . . . 042-k- -- Description: ❑ Interlocal Agreement ❑ Change Order ® Amendment ❑ Contract ❑ Other: to "B" Loan Contract Effective Date: 10/15/2014 Termination Date: 6J1J2023 Contract Renewal Notice (Days): Number of days required notice for termination or renewal or amendment i Contract Manager: PW Director Department: Public Works Contract Amount: Approval Authority: Department Director ❑Mayor ❑City Council Detail: (i.e. address, location, parcel number, tax id, etc.): S. 228th Street Extension I I adccW10877 8 14 AMENDMENT FACE SHEET -- Loan Number: PW-03-691-PRE-108 Amendment Number: B Washington State Department of Commerce PUBLIC WORKS BOARD Loan Contract 1. Contractor 2. Contractor Doing Business As (optional) Kent, City of N/A 220 4th Ave S Kent, WA 98032 3. Contractor Representative(only if 4. Public Works Board Representative (only if updated) updated) N/A N/A 5. Original Contract Amount 6. Amendment Amount 7. New Contract Amount $ 1,000,000.00 N/A �tA 8. Amendment Funding Source 9.Amendment Start Date 10. Contract End Date. Federal: ❑ State: CQ Other: ❑ N/Ai ❑ October 15t°, 2014 June 1, 2023 11. Federal Funds (asapplicable): Federal Agency: CFDA Number: N/A N/A N/A 12. Amendment Purpose: The purpose of this amendment is to formally alter the day and month in which loan payments are due from July 1 to June 1: The Board, defined as the Washington State Public Works Board, and Borrower/Contractor acknowledge and accept the terms of this AgreementlContract As Amended and attachments and have executed this Contract on the date below to start as of the date shown 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 including all attachments. 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 Contract to"Agreement" or"Contract"shall mean the"Agreement As Amended"or"Contract As Amended," respectively. FO ''THE BO,RRO ER/'O(N TRACTOR FOR PUBLIC WORKS BOARD i Signature Stan Finkelstein, Public Works Board Chair Print Name Date cL"zt APPROVED AS TO FORM ONLY Title This 15th Day of July, 2013 to t{e ty Bob Ferguson Date Attorney General i Signature on File Kathryn Wyatt Assistant Attorney General _ Kent, City of Page 3 Loan End Date Amendment PW-03-691-PRE-108 All PWTF Programs AMENDMENT TERMS AND CONDITIONS Washington State Department of Commerce PUBLIC WORKS BOARD Loan Contract Contractor/Borrower: Kent, City of Contract Number: PW-03-691-PRE-108 Amendment Number: B The Public Works Board (or its successors), a department of the State of Washington, (hereafter referred to as the"Board") and the Contractor, listed on the Face Sheet, agree to amend the above listed contract by revising all clauses contained therein that reference (in whole or in part)the annual Loan Repayment month and Loan End Date month. The Loan Repayment and Loan End Date months shall be revised to read "June 1" instead of"July 1" as the month and day in which all loan repayments are to be made. The final payment shall be on or before June 1, 2023, of an amount-sufficient to bring the loan balance to zero. i Kent, City of Page 4 Loan End Date Amendment PW-03-691-PRE-108 All PWTF Programs Amortization Schedule for Contract Num: PW-03-691-PRE-108 Contractor Name: Kent City Of Project Name: South 228th Street Extension I . Loan Information: Loan#1' Loan Amount: $1,000,000.00 Loan Type: Amortizing Loan Loan Start Date: 6/30/2003 Interest Rate/Type: 0.5000%(Simple) Loan Term: 20 Years Accrual Start Date: Amortized Loan Fee: 0.0000% Amortization Term: 19 Years First Payment Date: 6/1/2004 Payment Frequency: Annual-360 Days Paid Off: Last Payment Date: 6/1/2023 Periods Principal Deferred: 1 Loan Source: PWTF Distressed Community: N/A Draw Based Loan:Yes Terminated Date: Subordination Allowed: N/A Amortization Schedule Prnt�` � pmt i + lsrinolpal4 � 1,pCruotl In#eres' �i+ iPaymelt,0uo �Leam Bounce Imrotcol Inv# +i � Poitl[late, a 'li �a�dilmi x IExtro Pnnc+ ot` lrtra rjncip ,:. OLeOate ' 1i+1 s ' �� sllnferest , rl r t+ 1+++ ' `' bete ri {� +t S ,ul�ll�j It+ +� +: PbldDate PaidArrit.., -`_ ...,.{.� 1 7112004I $0.001 $177.081 $177.08 $177.08 _. $750,000.00 05/30/2004.. 88418: 07102l2004; $177.08'. j 2 711/20051 $39,473.69 $3,750.00P $3,750.00 $43,223.68 $710,526.32 05/3012005 88419 07/0512005 $43,223.68 3 711/2006 $53,362.571 $31889A41 $3,889.44 $57,252,01 $907,163.75 0513012006 88420 07/0312DW $57,252.01 4' 711/2007' $53,362.57 $4,535.82 $4,535.82 $57,898.39 $853,801.18"o5/3o/io07 88421 07/02/2007 ,.$57,898.39 5 7/1/2008, $53,362.591 $4269.01, $4,269.01. $57,631.59 $800,438.60 06/302008 88422 06/30/2008 $57,631.59 `I 6. 7/l2009, $53,36258 $4,002.19, $4,002.19 $57,364.77 $747,076.02 06130/2009 88423 07/01/2009 $57,364.77 7 711l2010, $53,362.57 $3,735.381 $3,735.38 $57,097.95. $693,713.45 07/0112010 88424 07/0612010 $57,097.95 8 7/l2011.. $53,362.57 $3,468.57 $3,468.57 $56,831,14 $640,350.88 05/032011 88438 0612712011 $56,831.14 9, 7/l/2012.. $53,362.57 $3,201.75 $3,201.751 $56,564.32 $586,988.31 06104/2012 88439 07I I-/022012I $56,564.32 10, 7(1/2013. $53,362.57 $2,934.94 $2,934 941, $56,297.51 $533,625.74 0610312013 88440; 06/25/2013i $56,297.51 . �-- - 6/l/2015 $53,362.57 $2,201.21 $2,201.21 $55,663.78 $426,900.60 11: 7/1/2014 $53,362.57 $2,668.13 $2,668.13 $56,030.70 $480 263.17 05/29/2014 88441 06/30/2014 $56,030.70 12,, 131. 6/112016`. $53,362.57 $2,134.50, $2,134.50+ .$55,497.07 $373,538.03 -_.. 14'.. 6/1/2017' _$53,362.58 $1,867,69'. $1,86T69 $55,230.27 $320,175.45 _ __. .. .w__ , . . :..... 6/1/20181 $53,362.58 � $1,600.88 $1,600.88 $54,963.46 $266,812._87 i .__ __.. .... 6/1120,19 $53,362.57 $1,334.06 $1,334.06 $54,696.63 $213,450.30 _- 17 611/2020' $53,362,57 $1,067.254 $1,06T25 $54,429.82 $160,087.73 _._. .. ... ..._. 18 6/12021 $53,362.58 $800.44 $800.44 $54,163.02 $106,725.15 .. . ... ..: 19I 6/12022. $53,362.57 $533.63 MISS $53,896.20 $53,362.58 � - 20. 6/12023, $53,362.58 $266,81 $266.81 $53,629.39 $Uo ... _. 10/23/2014 1:56:29 PM Contract Num:PW-03-691-PRE-108 Loan#1 CIEU CarneC Pane:1 of 2 Totals: $1,000,000.00. $48,438.78" $48,438.78 $1,048,438.78 $556,369.14' 10123120141:56:29 PM Contract Num:PW-03-691-PRE-108 Loan#1 QED\03nieC Page:2 of 2