HomeMy WebLinkAbout1992-281
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RESOLUTION NO. 92-281
2 RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO AUTHORIZING EXECUTION OF FIRST AMENDMENT TO LOAN
3 AGREEMENT RELATING TO PEDRO R. ORTIZ AND RICARDO AND HERMINIA SAM.
BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL OF THE CITY
OF SAN BERNARDINO AS FOLLOWS:
SECTION 1.
The Mayor of the City of San Bernardino is
hereby authorized and directed to execute that certain First
Amendment to Loan Agreement between Pedro R. Ortiz, and Ricardo
and Herminia Sam and the City of San Bernardino in the form of a
copy attached hereto as Exhibit A.
SECTION 2.
The authorization to execute the above-
referenced First Amendment is rescinded if the parties thereto
fail to execute it within sixty (60) days of the passage of this
resolution.
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DAB:js[Sam.Res]
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July 9, 1992
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RESOLUTION. . . AUTHORIZING EXECUTION OF FIRST AMENDMENT TO
LOAN AGREEMENT RELATING TO PEDRO R. ORTIZ AND RICARDO AND HERMINIA
SAM.
I HEREBY CERTIFY that the foregoing resolution was duly
Bernardino at a regular
adopted by the Mayor and Common Council of the City of San
meeting thereof, held on the 20th
, 1992, by the following vote, to wit:
day of Julv
Council Members:
ESTRADA
REILLY
HERNANDEZ
MAUDSLEY
MINOR
POPE-LUDLAM
MILLER
AYES
NAYS
ABSENT
ABSTAIN
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x
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"''7 doy
of
The foregoing resolution is hereby
July , 1992.
Approved as to
form and legal content:
JAMES F. PENMAN,
City Attorney
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DAB: js [Sam.Res]
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July 9, 1992
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Res. 92-281
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A.!!!L!!illfllfI
THIS FIRST AMEBDMERT TO LOAN AGIlEEKERT is made and entered into as
of this 18th day of June, 1992, by and between PEDRO R. ORTIZ, an individual,
hereinafter referred to as "Borrower," RICARDO AND HERMINIA SAM, husband and
wife, hereinafter referred to as "Assignees," and the CITY OF SAN BERNARDINO,
a Charter City, as assignee of the San Bernardino Economic Development
Council, hereinafter referred to as "City."
WITNESSETH:
WHEREAS, on August 2, 1984, Borrower entered into a certain Loan
Agreement with the San Bernardino Economic Development Council regarding a
business located in the City of San Bernardino, and
WHEREAS, on June 19. 1987, the San Bernardino Economic Development
Council did assign said loan to City which assignment was accepted by City by
Resolution No. 87-168 dated Mav 19. 1987, and
WHEREAS, Borrower desires now to assign the loan to Assignees,
NOW, THEREFORE, the parties hereto agree as follows:
1. Said Loan Agreement is hereby amended to add Ricardo and
Herminia Sam, husband and wife as borrowers thereunder.
2. Pedro R. Ortiz shall be retained as a borrower and obligee under
said Loan Agreement, and the real property pledged for repayment under said
Loan Agreement shall remain so pledged.
3. The due date of the loan shall be extended to September 1, 1995.
4. Except as amended herein said Loan Agreement shall remain in
full force and effect.
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Res. 92-281
FIRST AIIEllIlMKNT TO LOAl'I AG~.r HE: PEDRO R. ORTIZ
IN WITNESS WHEREOF, the First Amendment is executed on the day and
date first above shown.
CIn OF SAl'I BEIllWIDINO
BY:
W.R. HOLCOMB, MAYOR
APPROVED AS TO FORM
11 AND LEGAL CONTENT.
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James F, Penman,
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By" ..~
PEDRO R. ORTIZ
RICARDO SAM
HERMINIA SAM
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(Approved per City of San Edna Res 92-281 adopted 7/20/92)
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THIS FIRST AMEl'lDMENT TO LOAN AGREEMENT is made and entered into as
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of this 18th day of June, 1992, by and between PEDRO R. ORTIZ, an individual,
hereinafter referred to as "Borrower," RICARDO AND HERMINIA SAM, husband and
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wife, hereinafter referred to as "Assignees," and the CITY OF SAN BERNARDINO,
a Charter City, as assignee of the San Bernardino Economic Development
Council, hereinafter referred to as "City."
WITNESSETH:
WHEREAS, on August 2, 1984, Borrower entered into a certain Loan
Agreement with the San Bernardino Economic Development Council regarding a
business located in the City of San Bernardino, and
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WHEREAS, on June 19. 1987, the San Bernardino Economic Development
Council did assign said loan to City which assignment was accepted by City by
Resolution No. 87-168 dated Mav 19. 1987, and
WHEREAS, Borrower desires now to assign the loan to Assignees,
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NOW, THEREFORE, the parties hereto agree as follows:
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1.
Said Loan Agreement is hereby amended to add Ricardo and
Herminia Sam, husband and wife as borrowers thereunder.
2.
Pedro R. Ortiz shall be retained as a borrower and obligee under
said Loan Agreement, and the real property pledged for repayment under said
Loan Agreement shall remain so pledged.
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3.
The due date of the loan shall be extended to September 1, 1995.
4.
Except as amended herein said Loan Agreement shall remain in
full force and effect.
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FIRST AMKNDKENT TO LOAN AGREEMENT RE: PEDRO R. ORTIZ
IN WITNESS WHEREOF, the First Amendment is executed on the day and
date first above shown.
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CITY OF SAN BERNARDINO
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PEDRO R. ORTIZ '
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RICARDO SAM
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