HomeMy WebLinkAboutAgreement A-25-303 Amendment I to Agreement 20-309 (2).pdf 24-1399 Agreement No. 25-303
1 AMENDMENT 1 TO AGREEMENT NO. 20-309
2 This Amendment No. I to Agreement No. 20-309, is dated June 24, 2025 and is
3 between the County of Fresno, a political subdivision of the State of California ("County") whose
4 address is 2220 Tulare Street, 6` Floor, Fresno, CA 93721, and Habitat for Humanity Fresno, Inc.,
5 a California non-profit corporation, whose mailing address is 4991 E. McKinley Suite 123, Fresno,
6 California 93727, ("Borrower").
7 Recitals
8 WHEREAS, the County has been designated as a participating jurisdiction to administer
9 and implement the Federal HOME Investment Partnerships ("HOME") Program activities of the
10 County, in accordance with the Federal HOME regulations, and the laws of the State of California;
11 and
12 WHEREAS, the general purpose of the HOME Program is to strengthen public-private
13 partnerships, and to expand the supply of decent, safe, sanitary, and affordable housing, for low-
14 and moderate-income households; and
15 WHEREAS, the HOME Program allows for participating jurisdictions to structure their
16 investments as either loans or grants, providing flexibility to best serve their unique community's
17 needs and available resources; and
18 WHEREAS, on August 18, 2020, the Parties entered into Agreement 20-309
19 ("Agreement"), whereby $450,000 in HOME Program funds were made available as a no-
20 interest, deferred payment, development loan ("Loan") to the Borrower to assist with the
21 development of eight (8) single family residences affordable to very-low to low-income
22 households in the community of Riverdale; and
23 WHEREAS, said Loan required repayment of funds by September 9, 2025 by 1) cash
24 payments from Borrower, or 2)secondary financing security documents in the form of promissory
25 notes and deeds of trust to eligible homebuyers in aggregate of$450,000, or 3) a combination
26 thereof; and
27 WHEREAS, after the sale of all eight homes constructed by the Borrower and $352,935
28 in secondary financing security documents were issued, the remaining unpaid Loan balance is
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1 $97,065; and
2 WHEREAS, the Borrower has requested the conversion of the remaining balance of their
3 Loan into a grant, so that they may use their cash resources to invest in new housing
4 opportunities in the County of Fresno; and
5 WHEREAS, in the interest of furthering affordable housing goals within the project
6 jurisdiction, the County supports this conversion.
7 The parties therefore agree as follows:
8 1. Section II. Obligations of the County, Subsection A(2), page 5, lines 15 through 21, is
9 deleted in its entirety, and replaced with the following:
10 "2.The County, at its sole discretion, may accept any of the following as repayment
11 of HOME funds disbursed to the Borrower for construction of the Project: a) cash
12 payments from the Borrower; b) secondary financing security documents in the
13 form of promissory notes and deeds of trust to eligible homebuyers in aggregate
14 of Four Hundred Fifty Thousand Dollars ($450,000); or c) a combination of these
15 security documents and cash payments from the Borrower in aggregate of Four
16 Hundred Fifty Thousand Dollars ($450,000); or d) in addition to the
17 aforementioned,the Borrower may request forgiveness as described in subsection
18 3 below. The Borrower agrees to sell the homes for the lesser of the appraised
19 value or the maximum sales price allowed by all funders."
20 2. Subsection A(3) is added to Section II. Obligations of the County as follows:
21 "1 The County, at its sole discretion, and upon formal request from the Borrower and
22 consent of the Board of Supervisors, may forgive any remaining outstanding balance,
23 either in full or in part. Borrower is reminded that repayment or forgiveness of the Loan
24 does not eliminate Borrower's obligations to adhere to the terms of the Agreement."
25 3. Section II. Obligations of the County, Subsection C(2), page 6, lines 20 through 26, is
26 deleted in its entirety, and replaced with the following:
27 "2. Deed of Trust: County shall record against the Property a Deed of Trust for the
28 County HOME loan, in a form and content acceptable to the County. The Deed of
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1 Trust will be recorded for the purpose of securing repayment of the Four Hundred
2 Fifty Thousand Dollars ($450,000) loan, and will name the County of Fresno, a
3 political subdivision of the State of California, as beneficiary. Said Deed of Trust
4 will be in second lien position during construction and after construction (unless
5 the County provides written approval for a lesser lien position), until the Note
6 described in this Section II is fully satisfied."
7 4. Both parties agree that this Amendment I may be executed by electronic signature as
8 provided in this section.
9 a. An "electronic signature" means any symbol or process intended by an individual
10 signing this Assignment of Agreement to represent their signature, including but not limited
11 to (1) a digital signature; (2) a faxed version of an original handwritten signature; or(3) an
12 electronically scanned and transmitted (for example PDF document) version of an original
13 handwritten signature.
14 b. Each electronic signature affixed or attached to this Assignment of Agreement(1)
15 is deemed equivalent to a valid original handwritten signature of the person signing this
16 Assignment for all purposes, including but not limited to evidentiary proof in any
17 administrative or judicial proceeding, and (2) has the same force and effect as the valid
18 original handwritten signature of that person.
19 C. The provisions of this section satisfy the requirements of Civil Code section 1633.5,
20 subdivision {b), in the Uniform Electronic Transaction Act (Civil Code, Division 3, Part 2,
21 Title 2.5, beginning with section 1633.1).
22 d. Each party using a digital signature represents that it has undertaken and satisfied
23 the requirements of Government Code section 16.5, subdivision (a), paragraphs (1) 4
24 through (5), and agrees that each other party may rely upon that representation.
25 e. This Assignment of Agreement is not conditioned upon the parties conducting the
26 transactions under it by electronic means and either party may sign this Assignment of
27 Agreement with an original handwritten signature.
28 5. This Amendment I may be signed in counterparts, each of which is an original, and
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1 together constitute this Amendment I.
2 6. The Agreement as amended by this Amendment I is ratified and continued.All provisions
3 of the Agreement not amended by this Amendment I remain in full force and effect.
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1 The parties are signing this Amendment I on the date stated in the introductory clause.
2 HABITAT FOR HUMANITY FRESNO, INC, COUNTY OF FRESNO
a California Non-profit Corporation
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Ashley ed mann, CEO Ernest Buddy Mendes,Oairman of the
6 Board of Supervisors of the
County of Fresno
7 Date: S`I`/l Zo 2 sr- Date: 6 —oN aoa 5-
ATTEST:
9 BY: Bernice E. Seidel
10 m Tienken, Board President Clerk of the Board of Supervisors
County of Fresno, State of California
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Date: _ `�j BY:
12 Deputy
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17 REMIT TO:
18 FUND NO: 0001
SUBCLASS NO: 10000 Habitat for Humanity Fresno, Inc.
19 ORG NO: 7205 Attn: Executive Director
ACCOUNT NO: 7885 4991 E. McKinley, Suite 123
20 PROJECT NO: AHP2048 Fresno, CA 93727
ACTIVITY CODE: 7219 Telephone: (559) 237-4102
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April 16.2025
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