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BLP PARTNERSHIP AMENDED PROMISSORY NOTE
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BLP PARTNERSHIP AMENDED PROMISSORY NOTE
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10/28/2013 3:03:50 PM
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4/22/2011 12:53:18 PM
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LONG TERM AGREEMENTS
LONG TERM AGREEMENTS - DOCUMENT DATE
1/18/2011
LONG TERM AGREEMENTS - NAME
BLP PARTNERSHIP INC
LONG TERM AGREEMENTS - TYPE
MISC AGMT
LONG TERM AGREEMENTS - RECORD SERIES
704-06 (Long Term Agreements)
LONG TERM AGREEMENTS - DESTRUCTION DATE
PERMANENT
LONG TERM AGREEMENTS - NOTES
PLEASANTON ASSISTED
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ATTACHMENT A <br /> AMENDED AND RESTATED HELP PROMISSORY NOTE <br /> (Pleasanton Assisted Living) <br /> $449,750 Pleasanton, California <br /> January 18, 2011 <br /> FOR VALUE RECEIVED, the undersigned BLP Partnership, Inc., a California nonprofit <br /> public benefit corporation ( "Borrower ") hereby promises to pay to the order of the City of <br /> Pleasanton ( "Holder "), a principal amount of Four Hundred Forty -Nine Thousand Seven - <br /> Hundred and Fifty Dollars ($449, pursuant to the Loan Agreement (as defined below). <br /> Recitals <br /> Whereas, in July 2005, Holder was awarded a Housing Enabled by Local Partnerships <br /> Program (`HELP ") loan from the California Housing Finance Agency ( "CaIHFA ") in the amount <br /> of One Million Five Hundred Thousand Dollars ($1,500,000) to assist with the construction of an <br /> Assisted Living Facility; <br /> Whereas, in September 8, 2005 the Holder entered into a Loan Agreement with CaIHFA <br /> establishing terms and conditions for repayment of the HELP loan (Loan No. HELP- 020405- <br /> 06); <br /> Whereas, on September 1, 2005, Holder and Borrower entered into a HELP Loan <br /> Agreement ( "Loan Agreement ") in the amount of One Million Five Hundred Thousand Dollars <br /> ($1,500,000) with the intent of using the Borrower's repayment to repay the CaIHFA Loan No. <br /> HELP — 020405 -06. All capitalized terms not otherwise defined herein shall have the meanings <br /> ascribed to them in the Loan Agreement. <br /> Whereas, on September 1, 2005 the Holder and Borrower entered into a HELP <br /> Promissory Note ( "Existing Note') setting forth the terms for repayment of funds as detailed in <br /> the HELP Loan Agreement; <br /> Whereas, on January 18, 2011 Holder approved the full principal and interest repayment <br /> of the CaIHFA Loan No. HELP - 020405 -06 with One Million Two Hundred Thousand <br /> ($1,200,000) provided by the Borrower and Four Hundred Fifty Thousand ($449,750) provided <br /> by Holder through Holder's Lower Income Housing Fund ( "LIHF "). Holder has accepted such <br /> payment by Borrower as satisfaction of all interest accrued on the Loan through the date of this <br /> Note, and a reduction of the outstanding principal balance of the Loan to the sum of $449,750. <br /> Whereas, in recognition of Borrower's repayment of $1,200,000 of the Loan, and the <br /> application of such repayment to repay $1,200,000 of the CaIHFA Loan No. HELP - 20405 -06 <br /> and Holder's $449,750 payment to fully repay Loan No. HELP- 020405 -06, Holder and <br /> Borrower wish to amend and restate the Existing Note in its entirety. <br />
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