1229-State Revolving FundJr
STATE REVOLVING FUND
AMENDMENT 3 TO LOAN AGREEMENT SWG12058624P
CITY OF SANFORD
This amendment is executed by the STATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL
PROTECTION (Department) and the CITY OF SANFORD, FLORIDA, (Local Government) existing as
a local government agency under the laws of the State of Florida.
WITNESSETH:
WHEREAS, the Department and the Local Government entered into a State Revolving Fund Loan
Agreement, Number SWG12058624P, as amended, authorizing a Loan amount of $4,629,198, excluding
Capitalized Interest; and
WHEREAS, the Loan Amount and Project costs needs adjustment to reflect actual costs; and
WHEREAS, revised provisions for audit and monitoring are needed; and
WHEREAS, the Semiannual Loan Payment amount needs revision to reflect adjustment of Project costs
and the one Semiannual Loan Payment received by the Department from the Local Government.
NOW, THEREFORE, the parties hereto agree as follows:
1. The Loan amount is hereby reduced by $192,063, and the adjusted total disbursed amount for
this loan is $4,437,135.
2. The Loan Service Fee is $92,584.00. This amount represents the Service Fee established in
Amendment 2. Capitalized interest on the Loan Service Fee was $5,438.37 for a total service fee charge
of $98,022.37.
3. The total amount to repay by the Local Government is $4,623,556.74, which consists of
$4,437,135.00 disbursed to the Local Government, $88,399.37 of accrued Capitalized Interest and
$98,022.37 of service fee charges.
4. The total amount remaining to repay on the Loan is $4,581,183.65, which amount accounts
for the Department's receipt of one Semiannual Loan Payment and consists of the following:
(a) The unpaid principal of the original loan of $845,361.23 and the unpaid service fee charge of
the original loan of $11,619.63 both at a combined rate of interest and Grant Allocation Assessment of
2.90 percent per annum (the interest rate is 1.45 percent per annum, and the Grant Allocation Assessment
rate is 1.45 percent per annum).
(b) Amendment 1 unpaid principal of $2,171,105.76 and unpaid service fee charge of
$28,865.94 both at a combined rate of interest and Grant Allocation Assessment of 2.81 percent per
annum (the interest rate is 1.405 percent per annum, and the Grant Allocation Assessment rate is 1.405
percent per annum).
(c) Amendment 2 unpaid principal of $1,509,067.38 and unpaid service fee charge of
$15,163.71 both at a combined rate of interest and Grant Allocation Assessment of 2.52 percent per
annum (the interest rate is 1.26 percent per annum, and the Grant Allocation Assessment rate is 1.26
percent per annum).
U
5. The Semiannual Loan Payment amount, adjusted to account for repayments received to date,
is hereby revised and shall be in the amount of $152,288.34. Such payments shall be received by the
Department on July 15, 2008 and semiannually thereafter on January 15 and July 15 of each year until all
amounts due hereunder have been fully paid.
6. Subsections 2.03(1) and (3)(a)(i) of the Agreement are deleted and replaced as follows:
(1) The financial assistance authorized pursuant to this Loan Agreement consists of the
following:
Federal Resources, Including State Match, Awarded to the Recipient Pursuant to this Agreement Consist of the
Following:
Federal
State
Program
Federal
CFDA
Funding
Appropriation
Number
Agency
Number
CFDA Title
Amount
Catego
Capitalization Grants for
CS120001 -060
EPA
66.458
State Revolving Funds
$4,437,135
140131
(3) Report Submission.
(a) Copies of reporting packages for audits conducted in accordance with OMB Circular A -133,
as revised, and required by Subsection 2.03(2) of this Agreement shall be submitted, when required by
Section .320 (d), OMB Circular A -133, as revised, by or on behalf of the Local Government directly to
each of the following:
(i) The Department of Environmental Protection at each of the following addresses:
Robert E. Holmden, P.E., Chief
Bureau of Water Facilities Funding
Florida Department of Environmental Protection
2600 Blair Stone Road, MS 3505
Tallahassee, Florida 32399 -2400
Joe Aita, Audit Director
Office of the Inspector General
Florida Department of Environmental Protection
3900 Commonwealth Boulevard, MS41
Tallahassee, Florida 32399 -3123
REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
7. Project Costs are revised as follows:
The Local Government and the Department acknowledge that changes in Project costs may
occur as a result of the Local Government's Project audit or a Department audit pursuant to Chapter
62 -503 of the Florida Administrative Code. Unless this Agreement is amended subsequent to an audit,
the following Project disbursements shall be final.
CATEGORY DISBURSED (S)
Administrative Allowance
Planning Allowance
Engineering Allowance
Construction and Demolition
Land
Technical Services During Construction
Less CDBG Grant
SUBTOTAL (Total Disbursed)
Capitalized Interest
TOTAL (Loan Principal Amount)
28,719.00
186,673.00
358,987.00
3,875,032.00
356,765.00
160,959.00
(530,000.00)
4,437,135.00
88,399.37
4,525,534.37
All other terms and provisions of the Loan Agreement shall remain in effect.
REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
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This Amendment 3 to Loan Agreement SWG12058624P shall be executed in three or more counterparts,
any of which shall be regarded as an original and all of which constitute but one and the same instrument.
IN WITNESS WHEREOF, the Department has caused this amendment to the Loan Agreement to be
executed on its behalf by the Deputy Director, and the Local Government has caused this amendment to
be executed on its behalf by its Authorized Representative and by its affixed seal. The effective date of
this amendment shall be as set forth below by the Deputy Director.
for
CITY OF SANFORD
Mayor
Attest
-_
SEAL City Clerk
`��
for
STATE OF FLORIDA
DEPARTMENT OF ENVIRONMENTAL PROTECTION
r.
a
Deputy Director
Division of Water Resource Management
JUN 0 ! 2001
Date
4