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2200 Amendment 3 for City's state Revolving Funda 12011,1Ir7,1 PUBLIC WORs UTILmEs TRANSMITTAL MEMORANDUM To: City Clerk E: Request for Services OD r<< nr The item(s) noted below is/are attached and forwarded to your office for the following action(s): ❑ Ordinance ❑ Resolution ® Amendment 3 dw590120 for City's state Revolving Fund ❑ Mayor's signature ❑ Recording ❑ Rendering ® Safe keeping (Vault) 1-1 Once completed, please: ❑ Return original ❑ Return copy ® Notify us it has been received for safe keeping Special Instructions: Please store the attached amendment for safe keeping. Please advise if you have any questions regarding the above. Thank you! Mack McKinley & E.Jones 3/2/2020 From Date CINE CD QY FLORIDA DEPARTMENT OF RonDeGovernor Environmental Protection Jeanette Nunez Lt. Governor Marjory Stoneman Douglas Building Noah Valensteln 3900 Commonwealth Boulevard Secretary Tallahassee, FL 32399 FEDERAL EXPRESS DELIVERY - SIGNATURE REQUIRED Mr. Mack McKinley, P.E. Water Resources Engineer Utility Department City of Sanford 300 Park Avenue Sanford, Florida 32771 Re: DW590120 — Sanford Supply, Treatment, Distribution Dear Mr. McKinley: Enclosed is one original of Amendment 3 for the City's State Revolving Fund loan agreement. The amendment is now in effect, and no further amendments are anticipated. We congratulate you and your staff on the completion of your project and are pleased that we could work with you. Sincerely, CIU4+ Ange echt, Program Administrator State Revolving Fund Management AK/ad Enclosure cc: Norton N. Bonaparte, Jr. — City of Sanford Kylie Chiavuzzi — City of Sanford STATE REVOLVING FUND AMENDMENT 3 TO LOAN AGREEMENT DW590120 CITY OF SANFORD This amendment is executed by the STATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION (Department) and the CITY OF SANFORD, FLORIDA, (Project Sponsor) existing as a local governmental entity under the laws of the State of Florida. Collectively, the Department and the Project Sponsor shall be referred to as "Parties" or individually as "Party". The Department and the Project Sponsor entered into a Drinking Water State Revolving Fund Loan Agreement, Number DW590120, as amended, authorizing a Loan amount of $17,105,683, excluding Capitalized Interest and including Principal Forgiveness in the amount of $4,000,000; and The Loan Amount, Principal Forgiveness amount, Semiannual Loan Payment amount, Loan Service Fee, and Project costs need adjustment to reflect actual costs; and Certain provisions of the Agreement need to be revised. The Parties hereto agree as follows: 1. The total amount awarded is reduced by $497,879.00 of which the Principal Forgiveness portion is $9,111.30 and the Loan amount is $488,767.70. The revised total amount awarded is $16,607,804.00. Of that, the Principal Forgiveness is $3,990,888.70. 2. The Loan Service Fee is $262,114.00, and the capitalized Loan Service Fee interest is $8,739.80. 3. The total amount of the Loan is $12,916,148.63, which consists of $12,616,915.30 disbursed to the Project Sponsor, $28,379.53 of accrued Capitalized Interest and $270,853.80 of service fee charges. 4. The total amount remaining to repay on the Loan is $8,258,830.64, which amount accounts for the Department's receipt of 13 Semiannual Loan Payments and consists of the following: (a) The unpaid principal of the original loan of $1,160,505.89 at an interest rate of 2.66 percent per annum. (b) Amendment 1 unpaid principal of $6,552,419.17 at an interest rate of 2.50 percent per annum. (c) Amendment 2 unpaid principal of $545,905.58 at an interest rate of 1.98 percent per annum. 5. The Semiannual Loan Payment amount, adjusted to account for repayments received to date, is hereby revised and shall be in the amount of $362,016.12. Such payments shall be received by the Department on February 15, 2020 and semiannually thereafter on August 15 and February 15 of each year until all amounts due hereunder have been fully paid. 6. Subsections 2.03(1) and (5) 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: State Federal Program Federal CFDA Funding Appropriation Number Agency Number CFDA Title Amount Category Capitalization FS984522-100 EPA 66.468 Grants for Drinking $16,607,804 140129 Water State Revolving Fund (5) Record Retention. The Project Sponsor shall retain sufficient records demonstrating its compliance with the terms of this Agreement for a period of five years from the date of the Final Amendment, and shall allow the Department, or its designee, Chief Financial Officer, or Auditor General access to such records upon request. The Project Sponsor shall ensure that working papers are made available to the Department, or its designee, Chief Financial Officer, or Auditor General upon request for a period of five years from the date of the Final Amendment, unless extended in writing by the Department. 7. Subsection 2.03(4) of the Agreement is deleted. 8. Section 8.02 of the Agreement is deleted and replaced as follows: Books, records, reports, engineering documents, contract documents, and papers shall be available to the authorized representatives of the Department for inspection at any reasonable time after the Project Sponsor has received a disbursement and until five years after the Final Amendment date. 9. The Project Sponsor and the Department acknowledge that changes in Project costs may occur as a result of an audit. Unless this Agreement is amended subsequent to an audit, the following Project disbursements shall be final. CATEGORY PROJECT COSTS ($) Administrative Allowance 81,612.00 Engineering Allowance 816,135.00 Construction and Demolition 14,766,274.00 Technical Services During Construction 943,783.00 SUBTOTAL (Total Disbursed) 16,607,804.00 Less Principal Forgiveness (3,990,888.70) SUBTOTAL (Loan Amount) 12,616,915.30 Capitalized Interest 28,379.53 TOTAL (Loan Principal Amount) 12,645,294.83 10. All other terms and provisions of the Loan Agreement shall remain in effect. REMAINDER OF PAGE INTENTIONALLY LEFT BLANK This Amendment 3 to Loan Agreement DW590120 may be executed in two 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 Secretary or Designee, and the Project Sponsor 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 Department. Attest: lAw,2 h ind, 1 C' k 0 , City Clerk SEAL,r +i1g1� k1o,hJ�K �..y iW+ CY, E 777 ( 'yam/ for Approved as to form and legal sufficiency: STATE OF FLORIDA City Attorney DEPARTMENT OF ENVIRONMENTAL PROTECTION Secretary or Designee Date 2E ,T, c:Ci LQ Calculation of Semiannual Payment for Remaining Years Sponsor: Sanford Funding Number: 590120 Beginning of Repayment Period: 02/15/2013 Payments Remaining: 27 Original Loan Combined Rate: 2.66 Date Balance Disbursement Comb. Int Total Owed Present Payment Forward Or Serv. Fee At At Value* At Amount 02/15/2020 02/15/2020 08/15/2019 08/15/2019 1,160,505.89 0,00 15,434.73 1,175,940.62 Subtotals: 1,175,940.62 1,160,505.89 51,442.13 Amendment I Combined Rate: 2.5 Date Balance Disbursement Comb. Int Total Owed Present Payment Forward Or Serv. Fee At At Value* At Amount 02/1.5/2020 02/15/2020 08/15/2019 08/15/2019 6,552,419.17 0.00 81,905.24 6,634,324.41 Subtotals: 6,634,324.41 6,552,419.17 287,433.46 Amendment 2 Combined Rate: 1.98 Date Balance Disbursement Comb. Int Total Owed Present Payment Forward Or Serv. Fee At At Value* At Amount 02/15/2020 02/15/2020 08/15/2019 08/15/2019 545,905.58 0.00 5,404.47 551,310.05 Subtotals: 551,310.05 545,905.58 23,140.53 Totals: 8,361,575.07 8,258,830.65 362,016.12 *Present value is the total owed divided by (I+(Combined interest rate)/2) The Payment Amount is computed using the present value. 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