350-State Revolving Fund Loan STATE REVOLVING LOAN FUND
AMENDMENT 2 TO LOAN AGREEMENT FOR PROJECT CS120586150
City Of Sanford
This amendment is executed by the STATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL
PROTECTION (Department) and the CITY OF SANFORD, FLORIDA, existing as a local
government agency (Local Government} under the laws of the State of Florida.
WITNESSETH:
WHEREAS, the Department (formerly the Department of EnVironmental Regulation)
and the Local Government entered into a State Revolving Loan Fund Agreement,
Number CS120586150, in the amount of $1,766,231.14, as amended; and
WHEREAS, the final Loan disbursement has been made to the Local Government and
the Project costs may be adjusted pursuant to Chapter 17-503, Florida
Administrative Code; and
WHEREAS, the Local Government has made its second Annual Loan Payment to the
Department; and
WHEREAS, the Local Government has made a special payment to the Department in
order to repay $23,501.00 which was disbursed in excess Of allowable Project
costs; and
WHEREAS, the Loan amount and the disbursement schedule need revision to reflect
the actual disbursements and allowable Project costs; and
WHEREAS, the Annual Loan Payment amount needs revision to reflect the actual
disbursements, the adjusted Loan amount, and payments to date.
NOW, THEREFORE, the parties hereto agree as follows:
1. The total amount of the Loan iS $1,712,730.14, including $4,834.14
of capitalized Interest. (The unpaid principal balance after the special
payment on May 6, 1993, was $1,549,759.54.)
2. The Annual Loan Payment amount is hereby revised to One Hundred
Twenty Two Thousand Six Hundred Sixty Three and Twenty Six One-hundredths
Dollars ($122,663.26). such payment shall be received on or before October 1 of
each year until the entire amount due hereunder has been paid.
3. Attachment C, Revised, Estimated Loan Disbursement Schedule, is hereby
deleted in its entirety and replaced with Attachment C, Revision 2, Loan
Disbursements, attached hereto and made a part hereof.
4. Attachment H, Exact Figures, is hereby deleted in its entirety and
replaced with Attachment H, Revised, attached hereto and made a part hereof.
1
All other terms and provisions of the Loan Agreement shall remain in effect.
This Agreement 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. The Agreement becomes effective upon execution.
IN WITNESS WHEREOF, the Department has caused this Agreement to be executed
on its behalf by the Secretary of the Department and the Local Government has
caused this Agreement to be executed on its behalf by its Authorized
Representative and by its affixed seal. The effective date of this Agreement is
Attachments C and H he
Secretary ~/Mgayor '
STATE OF FLORIDA CITY OF SANFORD
DEPARTMENT OF ENVIRONMENTAL PROTECTION
~ City Manager
CITY OF SANFORD
Attest:
city Clerk
ATTACHMENT C, REVISION 2= LOAN DISBURSEMEnTS
The Loan disbursements for the Project were as follows:
Date Amount
June 14, 1990 $254,412
June 29, 1990 157,670
August 22, 1990 33,505
October 31, 1990 213,826
December 20, 1990 338,187
February 19, 1991 269,323
March 18, 1991 54,170
April 15, 1991 52,808
May, 29, 1991 74,611
August 6, 1991 174,300
October 9, 1991 64,853
December 19, 1991 16,280
January 29, 1992 27,652
May 6, 1993 (23,501)
The total Loan amount disbursed is $1,707,896.00. capitalized Interest in the
amount of $4,834.14 accrued on the amount disbursed.
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ATTACHMENT H, REVISED: EXACT FIGURES
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 17-503 of the Florida Administrative
Code. Unless this Agreement is amended subsequent to an audit, the following
Project costs shall be final.
(1) Administrative Allowance $ 5,565.00
(2) Design Allowance $ 83,475.00
(3) Construction and Demolition $ 1,465,676.00
(4) Equipment and Materials $ -0-
(5) Contingencies $ -0-
(6) Land $ -0-
(7) Technical Services During Construction $ 125,781.00
{8) Loan Repayment Reserve $ 22,316.00
(9) Financing (capitalized interest) $ 4,834.14
(10} Project Performance Certification $ 1,083.00
(11) Final Project Audit $ 4,000.00
TOTAL COST $ 1,712,730.14
Florida Department of Environmental Regulation
TWin Towers Office Bldg. · 2600 Blair Stone Road · gassee, Florida 32399-2400
Bob Martinez, Governor Dale Twachtmann, Secretary John Shearer, Assistant Secretary
RECEIVED
JUL 10 1989
July 6, 1989 ~
CITY OF SANFORD
CERTIFIED MAIL
RETURN RECEIPT REQUESTED
Mr. Frank A. Faison, City Manager
City of Sanford
300 North Park Avenue
Sanford, Florida 32772
Dear Mr. Faison:
We are pleased to make a loan under the State Revolving Fund loan
program to the City of Sanford for the master pumping station at
the City's wastewater treatment plant.
One copy of the fully executed agreement is enclosed. Your
agreement is now in effect and disbursements may begin.
We congratulate you and your staff on your good work in making
this happen so quickly and are pleased we can work together in
th i s way.
V/ry t~ ..... , .
Secretary
DT/rt
Enclosures
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