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EXHIBIT B <br />CONDITIONS OF PAYMENT BETWEEN <br />THE DAVIS STREET COMMUNITY CENTER <br />AND CITY OF SAN LEANDRO <br />1. Before any disbursements may be made, Recipient shall establish a property <br />acquisition budget, to be approved in writing by Development Services Director or designee, <br />specifying by line item the expenditures to be made with CDBG funds. <br />2. No funds shall be disbursed until Recipient executes a Promissory Note and Deed of <br />Trust providing City with a security interest in the property identified in the purchase and sale <br />agreement. <br />3. Prior to disbursement, any change in the budget that results in lower costs shall be <br />communicated to City immediately. If Development Services Director or designee determines <br />that the total amount of funds under this Contract exceeds the amount necessary to complete <br />the acquisition, Development Services Director or designee may adjust the Contract <br />accordingly. <br />J:\WPD\MNRSW\136\001\AGREE120001Davis Street CDBG Loan.redline.wpd <br />