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• I <br /> Addendum III <br /> Capital Improvement Loan Agreement <br /> This Addendum III, dated as of December 4, 2012, amends the Capital Improvement Loan Agreement(the <br /> "Agreement") between the City of San Leandro ("City") and Cornerstone Community Development <br /> Corporation ("Participant")dated July 1, 2008, with respect to repayment terms for One Hundred Thousand <br /> Dollars ($100,000) in federal Community Development Block Grant("CDBG")funds that the City has <br /> allocated to Participant for Participant's Rehabilitation Project at its"Sister Me Home"facility. <br /> Section 1.2.1 of the Loan Agreement is hereby deleted in its entirety and replaced with the following <br /> language: <br /> "1.2.1 LOAN TERM AND REPAYMENT. The Term of this Loan shall be twenty(20) years, <br /> Commencing on July 1, 2013 ("Forgiveness Commencement Date"), provided that Participant is not in <br /> default under the Loan Documents, the City shall forgive one twentieth (1/20th), or Five Thousand Dollars <br /> ($5,000) of the outstanding principal loan balance annually on the anniversary of the Forgiveness <br /> Commencement Date. On the twentieth (20th) anniversary of the Forgiveness Commencement Date, <br /> provided that no default or breach by Participant has occurred pursuant to Article IV, the entire outstanding <br /> principal and interest accrued on the Loan shall be forgiven." <br /> All other terms of the Agreement and Addenda I and II unaffected by this Addendum III shall remain in full <br /> force and effect. <br /> CITY OF S A LEANDRO <br /> G <br /> Chris Zapat.' <br /> City Manager <br /> CORNERSTONE COMMUNITY DEVELOPMENT CORPORATION <br /> Ar <br /> 7-abet vela <br /> Executive Director <br /> 2009029.1 <br />