HomeMy WebLinkAboutR10-Redevelopment Agency
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1IB000sr lOa COIR[SSIOB/COUIICIL ACTIOW
FrOll:
KENNETH J. HENDERSOR
Executive Director
Subject: "lIST ~ TO LOAJ'
AGhanuu - AlUrA'S IIADKY
Date:
July 20, 1992
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SYnoDsis of Previous C~fssionlCODDcil/C~ittee Action(s):
On July 6, 1992, the Mayor and Common C01D1cll authorized the Mayor of
the City of San Bernardino to execute the attached uendment which
extends the loan amortization period and assigns additional payors to a
loan agreement between the City of San Bernardino and Anita's Bakery.
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RecftBMPnded Motion(s):
(MaYOr..... C--- Conncil)
KOTIOB:
RESOLUTIOB OF THE MAYOR AND COMMOR COURCIL OF THE CITY OF
SAX BERlWIDIRO AUTHORIZIRG EXECUTIOB OF FIRST AMENDMENT
TO LOAX AGREEMEBT RELATING TO PEDRO R. ORTIZ AND RICARDO
AND HERMIBIA SAM.
Adia~rator
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Contact Person(s): Ken Henderson/Jav Munoz
Phone:
5081
Project Area(s): Mt. Vernon (MTVl
Ward(s):
One (n
Supporting Data Attached: Staff ReDort. Aareement
FllBDIRG REQUIREMENTS:
Am01D1t: $
RIA
Source:
RIA
RIA
Budget Authority:
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Com.dssionlCouncil Botes:
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KJB:AJM:tnt:0048h
COIMISSIOB IlEETIRG AGEBDA
MeetiDg Date: 07/20/1992
Agenda It_ llumber: )0
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DEVELOP.E.T DEP~aT.E.T
OF TIIB CITY OF au IIJ!IIIIARDllO
STAFF IIBPOIlT
First _-"'ent to Loan Aaret!lH!l1t
On July 6, 1992, the Mayor and Co_on Council authorized the Mayor
of the City of San Bernardino to execute the attached amendment
which extends the loan amortization period and assigns additional
payors to a loan agreement between the City of San Bernardino and
Anita's Bakery.
Adoption of the attached aesolution formalizes the Agreement that
was approved at the July 6, 1992 meeting of the Mayor and Common
Council. The aesolution authorizes and directs the Mayor and City
Clerk to execute the Agreement as described herein.
Staff recoomends adoption of the form motion.
~~O.. Bucutln Director
Develo~ent Depart:aent
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IJH:AJM:tnt:0048h
COIIIISSIO. IIIBl'IIIC AGDJI!
lleetin& Date: 07l20/l992
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Ageuda It. w-ber:
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RESOLUTION NO.
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THB CITY OF
SAN BERNARDINO AUTHORIZING EXECUTION OF FIRST AMBNDMENT TO LOAN
AGREEMENT RELATING TO PEDRO R. ORTIZ AND RICARDO AND HBRMINIA 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 4irected 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 rescin4ed if the parties thereto
fail to execute it within sixty (60) days of the passage of this
reSOlution.
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DAB:jaIS...R..)
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July 9, 1992
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RESOLUTION.. .AU'1'HORIZING EXBCUTION OF FIRST AMENDMENT '1'0
LOAN AGREBMBNT RBLATING TO PEDRO R. ORTIZ AND RICARDO AND HERMINIA
SAM.
I HEREBY CERTIFY that the foregoing resolution was duly
adopted by the Mayor and Common Council of the-- City of San
Bernardino at a
day of
meeting thereof, held on the
, 1992, by the following vote, to wit:
Council Members:
~
NAYS
ABSTAIN ABSENT
ESTRADA
REILLY
HERNANDEZ
MAUDSLEY
MINOR
POPE-LUDLAM
MILLER
City Clerk
The foregoing resolution is hereby approved this
of , 1992.
day
w. R. Holcomb, Mayor
City of San Bernardino
Approve4 as to
form and legal content:
JAMES F. PENMAN,
City Attorney
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July 9, 1992
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"IIIBIB%
THIS nUT ~ to LOAIf .l~ 18 ..de md l!titered into a.
of this llih day of .llmJ., 1992, by md between PEDRO R. ORTIZ, an individual,
hereinafter referred to as "Borrower," RICARDO AND HERMINIA SAM, huaband and
wife, hereinafter referred to aa ".lasill1eea," md the CITY OF SAIf BERRARDIIO,
a Charter City, a. assill1ee of the Sm Bernardino Economic Development
Council, hereinafter referred to as "City."
WITRESSlmI:
WHEREAS, on August 2, 1984, Borrower entered into a certain Loan
Agreement with the San Bernardino Economic Development Council reaardina a
business located in the City of Sm Bernardino, md
WHEREAS, on J1Dle 19. 1987, the San Bernardino Economic Development
Council did a..ill1 .aid loan to City Which assignment wa. accepted by City by
Resolution Bo. 87-168 dated Mav 19. 1987, and
WHEREAS, Borrower desirea now to assill1 the loan to Assi&neea,
BOW, THEREFORE, the parties hereto asree a. follows:
l. Said Loan Agreement 18 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 oblisee under
.aid Loan Agreement, and the real property pledsed for repayment under said
Loan Agreement shall remain so pledged.
3. The due date of the loan ahal1 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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