2000 Washington Ave - Lots of Love Child Care Center

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1 COMMERCIAL REHABILITATION LOAN AGREEMENT (Commercial Rehabilitation Loan Program) This Commercial Rehabilitation Loan Agreement (this “Agreement”) is entered into effective as of September 1, 2020 (the “Effective Date”) by and between Lots of Love Child Care Center (the “Owner”), and the City of San Leandro, a California charter city (the “City”). City and Owner are hereinafter referred to as the “Parties.” RECITALS A. Owner rents the property located at 2000 Washington Avenue (the “Premises”) in the City of San Leandro, known as Alameda County Assessor’s Parcel Number 077-0554-026-00, as more particularly described and depicted in Exhibit A. B. The City offers a Commercial Rehabilitation Loan Program (the “Program”) pursuant to which the City provides loans for the rehabilitation of buildings citywide to qualifying participants. C. Owner operates the Premises, and desires to construct certain improvements for the benefit of the Premises. C. Owner has requested, and City has agreed to provide a loan in the amount of Twenty Thousand Dollars ($20,000) (the “Loan”) pursuant to the terms and conditions set forth in this Agreement, for the purpose of construction of property improvements to be located on the Premises, all in accordance with Exhibit B attached hereto and incorporated herein by this reference (the “Project”). D. The City has determined that (i) the Premises and the Project meet the Program eligibility requirements, (ii) provision a loan for the Project is in the interests of the health, safety and welfare of the residents of the City of San Leandro (“City”), and (iii) the Loan is necessary to make the Project economically feasible. NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows. DocuSign Envelope ID: 48E3EBFC-3FF5-4238-BC9E-4D8C2D3ECF64