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• AGREEMENT <br /> THIS AGREEMENT, entered into on the 21 st day of November, 2005 by and between the City <br /> of Decatur, Illinois, hereinafter called the "City", and DCDF, Inc., an Illinois not-for-profit. <br /> NOW, THEREFORE,the parties in consideration thereto mutually agree and covenant as <br /> follows: <br /> A. City may receive up to 250 000 from the DCDF, Inc. to implement the proposed <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 <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 Sixty-Six Dollars & <br /> 71/100 Dollars ($ 1 266.71 each. Payments will be due on or before the 1 st 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. <br /> The City may, at its discretion, amend this Agreement to conform with federal, state or <br /> local governmental guidelines,policies and available funding amounts, or for other <br /> reasons. If such amendments result in a change in the funding, the scope of services, or <br /> schedule of the activities to be undertaken as part of this Agreement, such modifications <br /> will be incorporated only by written amendment signed by both the City or its assignees <br /> and DCDF, Inc. <br /> DATED THIS DAY OF , 2005. <br /> City of Decatur, Illinois DCDF, Inc. <br /> Steve Garman, City Manager Authorized Representative <br /> ATTEST: <br />� Celeste Harris, City Clerk <br /> 1 <br />