CONTRACT 3505A AmendmentRecording Requested By
And When Recorded Mail To:
California Infrastructure and Economic
Development Bank
Attn: Credit Support Unit
P.O. Box 2830
Sacramento, California 95812 -2830
3505A.
(Space above for Recorder's use)
This document is recorded for the benefit of the CALIFORNIA INFRASTRUCTURE
AND ECONOMIC DEVELOPMENT BANK and the recording is fee - exempt under
Section 27383 of the California Government Code.
FIRST AMENDMENT TO THE
FACILITY LEASE
by and between the
CALIFORNIA INFRASTRUCTURE AND ECONOMIC
DEVELOPMENT BANK
and the
CITY OF EL SEGUNDO
relating to $10,000,000
Agreement No. CIEDB B04 -062
Dated as of January 1, 2007
3505A
THIS FIRST AMENDMENT TO THE FACILITY LEASE (the "First Amendment ") is
made and entered into as of January 1, 2007, by and between the City of El Segundo, a
general law city and municipal corporation duly organized and existing under the laws of
the State of California, as Lessee (the "Lessee "), and the California Infrastructure and
Economic Development Bank, duly organized and validly existing pursuant to the
Bergeson -Peace Infrastructure and Economic Development Bank Act, constituting
Division 1 of Title 6.7 of the California Government Code (commencing at section 63000
thereof) as now in effect and as it may from time to time hereafter be amended (the
"Act ") as Lessor (the "Lessor ").
WITNESSETH
WHEREAS, the Lessee and the Lessor entered into that certain FACILITY
LEASE dated as of September 1, 2005 (the "Facility Lease ");
WHEREAS, the Facility Lease was recorded in Official Records, County of Los
Angeles;
WHEREAS, the Lessee and the Lessor desire to amend certain terms of the
Facility Lease;
WHEREAS, all acts and proceedings required by law necessary to make this
First Amendment, when executed by the Lessee and the Lessor, the valid, legal and
binding obligation of the Lessee and the Lessor, and to constitute this First Amendment a
legal, valid, and binding agreement for the uses and purposes herein set forth in
accordance with its terms, have been done and taken, and the execution of this First
Amendment has been in all respects duly authorized; and
WHEREAS, all capitalized terms used but not defined herein shall have the
meanings ascribed to such terms in the Facility Lease;
NOW, THEREFORE, in consideration of the premises and the mutual
agreements herein contained, the parties hereto do hereby agree as follows:
Section 1. Section 2.08(d) is hereby deleted and replaced with the following:
(d) Lessee must both: (i) begin Project construction no later than
twelve months after June 21, 2005, and (ii) submit invoices to the Lessor for the
entire Project Amount no later than February 17, 2008. If the Lessee fails to meet
the February 17, 2008 requirement, the Lessor shall, if required by federal law,
hold any or all undisbursed funds and apply such funds to the optional redemption
of Secured Bonds in accordance with the Indenture (in which event the moneys
on deposit in the Project Account shall be reduced by the principal amount of
Secured Bonds so redeemed).
35O5A..
Section 2. Section 12.02(b) of the Facility Lease is hereby deleted and
replaced with the following:
(b) The Lessee will prepare and file with the Lessor annually as soon
as practicable, but in any event not later than two hundred ten (2 10) days after the
close of each Fiscal Year, so long as this Facility Lease has not been discharged
by the Lessor, an audited financial statement of the Lessee for the preceding
Fiscal Year, prepared by an Independent Accountant; provided, however, that in
the event that such audited financial statement is not available by the above -
referenced filing date, an unaudited financial statement may be substituted
therefore. In the event an unaudited financial statement is submitted, the Lessee
shall file the audited financial statement with the Lessor as soon as it becomes
available. The Lessee will furnish to the Lessor such reasonable number of copies
of such audited financial statements as may be required by the Lessor for
distribution (at the expense of the Lessee).
Section 3. Exhibit 14.01 of the Facility Lease is hereby deleted and replaced
with the following:
SECTION 14.01. Notices. All written notices to be given hereunder
shall be given by first class mail to the party entitled thereto at its address set forth
below, or at such other address as such party may provide to the other parties in
writing from time to time, namely:
If to the Lessor:
California Infrastructure and Economic Development Bank
Attn: Credit Support Manager, CIEDB B04 -062
P.O. Box 2830
Sacramento, CA 95812 -2830
For overnight mail or personal delivery only, the following address should
be used:
California Infrastructure and Economic Development Bank
Attn: Credit Support Manager, CIEDB B04 -062
10011 Street, 19a` Floor
Sacramento, California 95814
Or to such other address as may be designated in writing by the Lessor.
2
3 5056, . ti
If to the Lessee:
City of El Segundo
Attn: City Manager
350 Main Street
El Segundo, CA 90245 -3813
Section 4. All other terms and conditions of the Facility Lease shall remain in
full force and effect.
[The balance of this page is intentionally left blank.]
35054,
IN WITNESS WHEREOF, the parties hereto have caused this First Amendment
to be signed by the respective officers, all as of the day and year first above written.
ATTEST
Roma Cristia -Plant
Secretary
ATTEST
By Cd
CindyWlortesen
City Clerk
CALIFORNIA INFRASTRUCTURE AND
ECONOMIC DEVELOPMENT BANK, as
Lessor
Stanton C. Hazelroth
Executive Director
CITY OF EL SEG O, as Lessee
By
Jeff Stewart
G City Manager
4
i
i
S TO FORM:
ITY ATTORNEY
3505A.
STATE OF CALIFORNIA )
ss
COUNTY OF SACRAMENTO )
On , 2006, before me, Tom Martin, a Notary Public in and for the
State of California, personally appeared STANTON C. HAZELROTH, personally known
to me to be the person whose name is subscribed to the within instrument and
acknowledged to me that he executed the same in his authorized capacity, and that by his
signature on the instrument the person or the entity on behalf of which the person acted,
executed the instrument.
Witness my hand and official seal
Signature of Notary Public
5
January 29, 2007
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) SS
CITY OF EL SEGUNDO 1
On January 29, 2007, before Cathy Domann, Deputy City Clerk, personally
appeared Jeff Stewart, City Manager of the City of El Segundo, personally known
to me to be the person whose name is subscribed to on the within instrument,
and acknowledged to me that he executed the same in his authorized capacity,
and that by his signature on the instrument the person, or entity upon behalf of
which the persons acted, executed the instrument.
Witness my hand and Official Seal
eA%412���
Cathy Do rut, Deputy City Clerk
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