Laserfiche WebLink
AMENDMENT NO. 1 TO LOAN AGREEMENT <br />BETWEEN THE METROPOLITAN COUNCIL AND <br />THE CITY OF RAMSEY FOR <br />HIGHWAY RIGHT-OF-WAY ACQUISITION <br />LOAN AGREEMENT NO. L- 08-01 <br />WHEREAS, the Metropolitan Council ("the Council") and the City of Ramsey ("the Recipient") have entered <br />into a loan agreement for protective acquisition of highway right-of-way, which loan agreement is dated June <br />9, 2008 and is identified as Loan Agreement <br />No. L- 08-01("Loan Agreement"); and <br />WHEREAS, the Loan Agreement provides that the Council will advance to the Recipient the Recipient's actual <br />acquisition costs for the real property described in Exhibit A to the Loan Agreement in an amount not to exceed <br />$1,229,000.00 and <br />WHEREAS, Council and Recipient agree that it is in their best interests to amend the Loan Agreement to <br />Reflect Recipient's actual acquisition cost; <br />NOW, THEREFORE, for one dollar and other good and valuable consideration, the sufficiency and receipt of <br />which is hereby acknowledged by Council and Recipient, the Loan Agreement between the Metropolitan <br />Council and the City of Ramsey for Protective Acquisition of Highway Right of Way, Loan Agreement No. L- <br />08-01 is hereby amended as follows: <br />1. Section I, Paragraph 1.01 is hereby amended by deleting $1,229,000.00 and substituting therefore <br />$1,260,686.00. <br />2. Section 1, Paragraph 1.02, is hereby amended by deleting $1,160,000.00 from the first sentence of said <br />Paragraph 1.02 and substituting therefore the sum of $1,161,973. 00. <br />3. Section 1, Paragraph 1.02, is hereby amended by deleting $8,000.00 from the third sentence of said <br />Paragraph 1.02 and substituting therefore the sum of $8,961.00 <br />4. Section 1, Paragraph 1.02, is hereby amended by deleting $61,000.00 from the fourth sentence of said <br />Paragraph 1.02 and substituting there the sum of $89.752. <br />5. In all other respects the Loan Agreement remains unchanged. <br />APPROVED AS TO FORM: <br />al Counsel <br />APPROVED AS TO FORM: <br />City Attorney <br />METROPOLITAN COUNCIL <br />By--- V t,v (;lAtifItt. <br />Arlene McCarthy, Director <br />Metropolitan Transportation Services <br />CITY OF RAMSEY <br />By <br />Bob Ramsey, Ma <br />By <br />(Kurt Ulrich, City Administrator <br />