Agmt 2007 Building Futures for Women and Children BFWC (2)

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AMENDMENT OF CAPITAL IMPROVEMENT AGREEMENT FOR THE USE OF CDBG FUNDS This Amendment ("Amendment") to that certain Capital Improvement Agreement for the Use of CDBG Funds ("Agreement"), dated as of June 7, 1999 ("Effective Date"), by and between the City of San Leandro, a municipal corporation ("City") and San Leandro Shelter for Women and Children, now known as Building Futures for Women and Children, a California nonprofit public benefit corporation ("Recipient") is entered into as ofJuly 18,2007. WHEREAS, pursuant to the Agreement, the City provided Recipient with a loan in the amount of One Hundred Eighty Thousand Dollars ($180,000) ("Loan") for the purpose of assisting Recipient with the purchase of a home to be used as a safe house for battered women and their children; and WHEREAS, Recipient has performed the duties and rendered the services required under the Agreement; and WHEREAS, pursuant to the original ternlS of the Agreement, the Loan was to be forgiven at the end of the thirty (30) year loan term, provided that Recipient was not in default of the Agreement; and WHEREAS, the City and the Recipient desire to amend the Agreement in order to forgive the Loan over the thirty (30) year term of the Loan. NOW, THEREFORE, the Parties do hereby agree to the following amendments to the Agreement: 1. Section 1.01 of the Agreement is hereby amended to read as follows: "Subject to the terms and conditions of this Agreement, City hereby agrees to Loan to recipient One Hundred Eighty Thousand Dollars ($] 80,000) which shall bear interest at the rate of two percent per annum simple interest, through the term of the Agreement. The Term of this Agreement shall be thirty (30) years. Provided that Recipient is not in default of any provision of this Agreement, the City shall forgive one thirtieth (1/30Ih) of the outstanding loan balance annually on the anniversary of the Effective Date of the Agreement." 2. Effect. Except as modified by this Amendment, the Agreement, dated June 7, ]999, shall remain in full force and effect. SIGNATURES ON FOLLOWING PAGE 987754-]