The URL can be used to link to this page

Home My WebLink AboutPW1995-0294 - Amendment - #1 - Washington Department of Ecology - Revolving Fund Loan Agreement #L9600018 - 98th Ave Regional Treatment Pond - 01/30/1997AMENDMENT NO. 1 TO LOAN AGREEMENT NO. L9600018 BETWEEN THE STATE OF WASHINGTON DEPARTMENT OF ECOLOGY AND THE CITY OF KENT PURPOSE: To amend the above -referenced loan agreement between the Department of Ecology, [DEPARTMENT] and the city of Kent [RECIPIENT], to identify the final project costs and repayment schedule for the 98th Avenue Regional Treatment Pond Project. IT IS MUTUALLY AGREED that the loan agreement is amended as follows: 1. The project budget shall be modified to reflect the actual costs incurred and will be decreased by $546,973.09 from $2, 119, 619.00 to $1, 572, 645. 91 . Major Task Elements A. Project Management B. Surveying C. Construction D. Construction Management Construction Contingency Total Total Eligible Total Eligible Project Cost Project Cost (Original) (Amendment 1) $ -0- $ -0- $ 43,000.00 $ 3,631.28 $1,750,147.00 $1,502,442.24 $ 50, 000. 00 $ 66, 572.39 $ 276,472.00 $ -0- $2, 119, 619.00 $1, 572, 645. 91 Final SRF Loan Amount $ -0- $ 3,631.28 $1,502,442.24 $ 66,572.39 $ -0- $1, 572, 645.91 2. The Estimated Repayment Schedule (Agreement Attachment 3; 01/26/96) shall be replaced with the Final Repayment Schedule (Agreement Attachment 3; Revised 01/30/97). FURTHER, this amendment shall be effective upon the date of signature by the Water Quality Program Manager of the DEPARTMENT. Amendment No. 1 Ecology Loan Agreement L9600018 Except as expressly provided by this amendment, all other terms and conditions of the original loan agreement and all amendments thereto remain in full force and effect. IN WITNESS WHEREOF: the parties have executed this amendment. STATE OF WASHINGTON DEPARTMENT OF ECOLOGY MICHAEL T. LLEWELYN DATE PROGRAM MANAGER WATER QUALITY PROGRAM APPROVED AS TO FORM ONLY ASSISTANT ATTORNEY GENERAL CITY OF KENT Page 2 of 2 L9600018 ATTACHMENT 3 01 / 3 0 / 9 7 FINAL REPAYMENT SCHEDULE CITY OF KENT Loan Amount: $ 1,572,645.91 Loan Date: 01-01-1997 Term of Loan: 39 Annual Interest Rate: 4.800 OW Amortization Method: Normal, 365 D/Y Interest Compounded: Semi -Annual PMT ----- Due Date -------- Payment Amount --------------- Interest Principal Balance 1 08-01-97 --------------- 62,801.53 ------------------------------ --------------- 44,308.60 --------------- 18,492.93 1,554,152.98 1997 totals 62,801.53 --------------- --------------- 44,308.60 18,492.93 2 02-01-98 --------------- 62,801.53 --------------- 37,299.67 25,501.86 1,528,651.12 3 08-01-98 62,801.53 --------------- --------------- 36,687.63 : 26,113.90 1,502,537.22 totals 125,603.06 ------------------------------ - 73,987.30 51,615.76 4 02-01-99 62,801.53 --------------- 36,060.89 26,740.64 1,475,796.58 5 08-01-99 62,801.53 ------------------------------ 35,419.12 27,382.41 1,448,414.17 1999 totals 125,603.06 --------------- --------------- 71,480.01 54,123.05 6 02-01-00 --------------- 62,801.53 --------------- 34,761.94 28,039.59 1,420,374.58 7 08-01-00 62,801.53 ------------------------------ 34,088.99 28,712.54 1,391,662.04 2000 totals 125,603.06 --------------- --------------- 68,850.93 56,752.13 8 02-01-01 --------------- 62,801.53 --------------- 33,399.89 29,401.64 1,362,260.40 9 08-01-01 62,801.53 ------------------------------ 32,694.25 30,107.28 1,332,153.12 2001 totals 125,603.06 --------------- --------------- 66,094.14 59,508.92 10 02-01-02 --------------- 62,801.53 --------------- 31,971.67 30,829.86 1,301,323.26 11 08-01-02 62,801.53 --------------- 31,231.76 31,569.77 1,269,753.49 2002 totals --------------- 125,603.06 --------------- --------------- 63,203.43 62,399.63 12 02-01-03 --------------- 62,801.53 --------------- 30,474.08 32,327.45 1,237,426.04 13 08-01-03 62,801.53 --------------- 29,698.22 33,103.31 1,204,322.73 2003 totals --------------- 125,603.06 --------------- --------------- 60,172.30 65,430.76 14 02-01-04 --------------- 62,801.53 --------------- 28,903.75 33,897.78 1,170,424.95 15 08-01-04 62,801.53 --------------- 28,090.20 34,711.33 1,135,713.62 2004 totals --------------- 125,603.06 --------------- --------------- 56,993.95 68,609.11 16 02-01-05 --------------- 62,801.53 --------------- 27,257.13 35,544.40 1,100,169.22 17 08-01-05 62,801.53 ------------------------------ 26,404.06 36,397.47 1,063,771.75 2005 totals 125,603.06 ------------------------------ --------------- 53,661.19 --------------- 71,941.87 FINAL REPAYMENT SCHEDULE Page 1 01/30%97 PMT ----- Due Date -------- Payment Amount ------------------------------ Interest Principal Balance 18 02-01-06 62,801.53 --------------- 25,530.52 --------------- 37,271.01 1,026,500.74 19 08-01-06 62,801.53 ------------------------------ 24,636.02 38,165.51 988,335.23 2006 totals 125,603.06 --------------- --------------- 50,166.54 75,436.52 20 02-01-07 --------------- 62,801.53 --------------- 23,720.05 39,081.48 949,253.75 21 08-01-07 62,801.53 ------------------------------ 22,782.09 40,019.44 909,234.31 2007 totals 125,603.06 ------------------------------ --------------- 46,502.14 79,100.92 22 02-01-08 62,801.53 --------------- 21,821.62 40,979.91 868,254.40 23 08-01-08 62,801.53 ------------------------------ 20,838.11 41,963..42 826,290.98 2008 totals 125,603.06 --------------- --------------- 42,659.73 82,943.33 24 02-01-09 --------------- 62,801.53 --------------- 19,830.98 42,970.55 783,320.43 25 08-01-09 62,801.53 ------------------------------ 18,799.69 44,001.84 739,318.59 2009 totals : 125,603.06 --------------- --------------- 38,630.67 86,972.39 26 02-01-10 --------------- 62,801.53 --------------- 17,743.65 45,057.88 694,260.71 27 08-01-10 62,801.53 ------------------------------ 16,662.26 46,139.27 648,121.44 2010 totals 125,603.06 --------------- --------------- 34,405.91 91,197.15 28 02-01-11 --------------- 62,801.53 --------------- 15,554.91 47,246.62 600,874.82 29 08-01-11 62,801.53 ------------------------------ 14,421.00 48,380.53 552,494.29 2011 totals 125,603.06 --------------- --------------- 29,975.91 95,627.15 30 02-01-12 --------------- 62,801.53 --------------- 13,259.86 49,541.67 502,952.62 31 08-01-12 62,801.53 --------------- 12,070.86 50,730.67 452,221.95 2012 totals --------------- 125,603.06 --------------- --------------- 25,330.72 100,272.34 32 02-01-13 --------------- 62,801.53 --------------- 10,853.33 51,948.20 400,273.75 33 08-01-13 62,801.53 ------------------------------ 9,606.57 53,194.96 347,078.79 2013 totals i25,603.06 --------------- --------------- 20,459.90 105,143.16 34 02-01-14 --------------- 62,801.53 --------------- 8,329.89 54,471.64 292,607.15 35 08-01-14 62,801.53 --------------- 7,022.57 55,778.96 236,828.19 2014 totals --------------- 125,603.06 --------------- --------------- 15,352.46 110,250.60 36 02-01-15 --------------- 62,801.53 --------------- 5,683.88 57,117.65 179,710.54 37 08-01-15 --------------- 62,801.53 --------------- 4,313.05 58,488.48 121,222.06 2015 totals ---------------"--------------- 125,603.06 --------------- 9,996.93 115,606.13 38 02-01-16 62,801.53 --------------- 2,909.33 59,892.20 61,329.86 39 08-01-16 62,801.78 1,471.92 61,329.86 0.00 FINAL REPAYMENT SCHEDULE Page 2 01/30/97 PMT Due Date 2016 totals Grand totals Payment Amount Interest Principal Balance --------------- 125,603.31 --------------- $ 2,449,259.92 --------------- --------------- FINAL REPAYMENT SCHEDULE --------------- 4,381.25 --------------- $ 876,614.01 --------------- --------------- --------------- 121,222.06 --------------- $ 1,572,645.91 --------------- --------------- Page 3