Rancho Palos Verdes Redevelopment Agency (1999) Amendment to Loan Agreement AMENDMENT TO LOAN AGREEMENT
The loan agreement, dated July 1, 1999, between the City of Rancho Palos Verdes (the
"City") and the Rancho Palos Verdes Redevelopment Agency (the "Agency") is hereby
amended. For and in consideration of the mutual covenants and promises set forth in the
loan document of July 1,1999, the parties agree to amend the agreement as follows:
As of August 3, 1999, the City Council further authorizes an additional loan advance of
$250,000 to the Portuguese Bend fund of the Agency during FY 1999-2000. After
issuance of this additional loan advance, the total principal balance due from the
Portuguese Bend fund will be $4,320,552 at June 30, 2000. Interest will be accrued on the
additional advance in accordance with Section 2.02 of the agreement dated July 1, 1999.
IN WITNESS HEREOF THE PARTIES HAVE CAUSED THIS AMENDMENT TO THE
LOAN AGREEMENT TO BE EXECUTED.
CITY OF RANCHO PALOS VERDES
ATTEST: B
Ma •r
IL/ / PP
City Clerk
RANCHO PALOS VERDES
REDEVELOPMENT AGENCY
ATTEST: °//:IB
gency Chairman
Agency Secretary
w:Voandocs\19990803IoanamendmentFY9900