Edmonds Public Facilities District for Contingent Loan Agreement Amendment 2N o . 20201202
CONTRACT ROUTING FORM
Z Originator: Dave Turley Routed by:
O Department/Division: Administrative Services Date:
H
a
FC - Name of Cons ultant/Contractor: Edmonds Public Facilities District
wCONTRACT TITLE: Second Amendment to the Contingent Loan Agreement
0
Type of Contract: 0 (GR) Grants (1) Intergovernmental Agreement
�- (S) Purchase of Services 0 (W) Public Works
Z
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Z Project/Bid/RFP No:
U ' Effective Date:
12/2/2020
U Has the original contract boilerplate language been modified?
If yes, specify which sections have been modified:
p Description N/A
U of Services:
(City Clerk Use Only)
12/2/2020
0 (L) Lease Agreement
0 (0) Other
Completion Date: 1213 S l'2-G 2411
0 Yes No
Total Amount of Contract:
Amount: Amount:
Budget # Budget #
J_
Q Amount: Amount:
Lu Budget # Budget #
0
_J Amount: Amount:
a Budget # Budget #
Z Are there sufficient funds in the current budget to cover this contract? f -Yes O No
Z Remarks: EL -N/A
Authorization Level:
w
❑ 1. Project Manager
❑ 2. Risk Management/Budget
Z ❑ 3. City Attorney
0 ❑ 4. Consultant/Contractor
❑ 5. Other
❑ 6. City Council Approval
❑ Date (if applicable)
® 7. Mayor
❑ 8. City Clerk
SECOND AMENDMENT TO
CONTINGENT LOAN AGREEMENT
RELATING TO THE
$2,803,516.08
EDMONDS PUBLIC FACILITIES DISTRICT
PROMISSORY NOTE, 2018 (TAXABLE)
This SECOND AMENDMENT TO CONTINGENT LOAN AGREEMENT (this
"Amendment") is dated as of December 1, 2020, and amends the FIRST AMENDED AND
RESTATED CONTINGENT LOAN AGREEMENT dated as of November 15, 2018 (the
"Agreement"), by and between THE CITY OF EDMONDS (the "City"), a code city organized
under the laws of the State of Washington, and the EDMONDS PUBLIC FACILITIES
DISTRICT (the "District"), a municipal corporation established by the City of Edmonds and duly
organized and existing under and by virtue of the laws of the State of Washington.
The City and the District entered into the Agreement solely for the purpose of providing
credit support for the Edmonds Public Facilities District Promissory Note, 2018 (Taxable) (the
"Note"), issued in the principal amount of $2,803,516.08 pursuant to Resolution No. 2018-03
adopted by the Board of Directors of the District (the "Board") on October 25, 2018 (the "Note
Resolution"), and enter into this Amendment to permit the maturity of the Note to be extended
from December 31, 2028, to December 31, 2029.
Section 3.3(1) of the Agreement is hereby amended to read as follows:
The District covenants that: (a) the final maturity of the Note shall not be later
than December 31, 2029; and (b) in each year that the Refunded Bonds were
scheduled to be outstanding other than in 2029, the debt service payable on the
Note shall be less than the debt service that would be payable on the Refunded
Bonds if they were not refunded.
Section 3.4(3) of the Agreement is hereby amended to read as follows:
Maturity. Unless paid earlier pursuant to subsection (1) of this Section, all loans
hereunder shall mature on December 31, 2029. If any loan has not been repaid
under this Agreement on the loan maturity date described in this Section 3.4(3),
the City shall acquire an ownership interest in the Regional Center equal to the
unpaid principal and interest due to the City on that loan maturity date, and the
District shall execute and deliver a quitclaim deed and such other documents as
may be necessary to convey this interest to the City as described in Section 3.3,
and the District's obligation to repay the loan under this Agreement shall be
discharged.
The Agreement, as amended by this Amendment, is and remains in full force and effect.
FG:54076318.1
IN WITNESS WHEREOF, the City and the District have caused this Amendment to be
executed in their respective names by their duly authorized officers, and have caused this
Amendment to be dated as of the date set forth on the first page hereof.
CITY OF EDMONDS, WASHINGTON
Ma r
Att 11t:
City-G erk -
FG:5407631 S.1
EDMONDS PUBLIC FACILITIES
D[r'RIC7' f ' 'e��
Prey d rd cif i rectors
nit �t:
Secretary, Board of Directors
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FG:54076318 I
STATE OF WASHINGTON
ss.
COUNTY OF SNOHOMISH
I certify that I know or have satisfactory evidence that David Brewster and Ray Liaw are
the persons who appeared before me, and said persons acknowledged that said persons signed
this instrument, on oath stated that said persons were authorized to execute the instrument and
acknowledged it as the President and Secretary, respectively, of the Board of Directors of the
EDMONDS PUBLIC FACILITIES DISTRICT, a municipal corporation of the State of
Washington, to be the free and voluntary act of such municipal corporation for the uses and
purposes mentioned in the instrument.
Dated this ' ' day of December, 2020.
�s;gnat4 c or atary)
(Legibly Print or Stamp Name of Notaiy)
Notary pmb�c in an(] For the State of Washington, residing at
My appointment expires 4
STATE OF WASHINGTON
ss.
COUNTY OF SNOHOMISH
I certify that I know or have satisfactory evidence that Mike Nelson and Scott Passey are
the persons who appeared before me, and said persons acknowledged that said persons signed
this instrument, on oath stated that said persons were authorized to execute the instrument and
acknowledged it as the Mayor and Clerk, respectively, of the CITY OF EDMONDS, a municipal
corporation of the State of Washington, to be the free and voluntary act of such municipal
corporation for the uses and purposes mentioned in the instrument.
Dated this �1J day of December, 2020.
(Signatures N ry)
(Legibly Print or Stamp Name of Notary)
Notary pn lic in and for the State ofWashington, residing at
�?L elzy 2�1 5. �&Z r9
My appointment expires 1 6,
FG:540763I 8 I