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AGREEMENT II <br /> THIS AGREEMENT, entered into on the 21 st dav of November, 2005 by and between the City 'i <br /> of Decatur, Illinois, hereinafter called the "City", and DCDF, Inc., an Illinois not-for-profit. I <br /> NOW, THEREFORE,the parties in consideration thereto mutually agree and covenant as 'i <br /> follows: ! <br /> A. City may receive up to 250 000 from the DCDF, Inc. to implement the proposed I, <br /> activity known as Heritage Place at Lakeshore Limited Partnership. Funding will be ' <br /> dispersed beginning in the summer of 2006 based upon actual Heritage Place at ', <br /> Lakeshore Limited Partnership project expenditures, for a total not to exceed the loan � <br /> amount of$250,000. <br /> B. For value received, the City of Decatur, a municipal corporation("City") or II <br /> assignees,the undersigned,jointly and severally,promise to pay to the order of the <br /> DCDF, Inc., an Illinois not-for-profit corporation,the sum of Two Hundred Fiftv <br /> Thousand Dollars & 00/100 Dollars ($ 250,000.00) and such additional sums as may be <br /> advanced hereon by the payee hereof, together with interest beginning upon ' <br /> construction completion, at the rate of 4.5 % per centum per annum,payable in <br /> monthly installments of not less than One Thousand Two Hundred Sixtv-Six Dollars & <br /> 71/100 Dollars ($1,266.71) each. Payments will be due on or before the lst day of each <br /> month hereafter,beginning with the thirty days after construction completion and a <br /> certificate of occupancy, until said principal sum and interest have been fully paid over a <br /> thirty year term. <br /> C. The City of Decatur and DCDF, Inc. may amend this Agreement at any time provided <br /> such amendments make specific reference to this Agreement, and are executed in writing, <br /> signed by a duly authorized representative of both organizations, and approved by the <br /> City Council. Such amendments shall not invalidate this Agreement,nor relieve or <br /> release the either party from its obligations under this Agreement. The City may, amend <br /> this Agreement to conform with federal, state or local governmental guidelines,policies <br /> and available funding amounts, or for other reasons. If such amendments result in a <br /> change in the funding,the scope of services, or schedule of the activities to be undertaken <br /> as part of this Agreement, such modifications will be incorporated only by written <br /> amendment signed by both the City or its assignees and DCDF, Inc. <br /> DATED THIS�`� `_ DAY OF ��"��Q�-�J�C.�, 2005. <br /> City of De , I ' DCDF, Inc. <br /> � ' 'f'—" <br /> Ste Garm rty Manager uthorized Repre entative <br /> ST: �! \_'� �/�--'Z-�� <br /> -�_. <br /> Celeste Harris, City Cle <br />