HomeMy WebLinkAboutC2009-590 - 11/17/2009 - NAy
FIRST AMENDMENT TO HQ~F~,O,AN~GREEMErtT _
THIS FIRST AMENDMENT TO HOME LOAN AGREEMENT {the "First
Amendment"}, dated as of ~~J~n ~?"j , 2009, is made and entered into by and among Corpus
Christi Community Improvement Corporation, a Texas nonprofit corporation ("CCCIC"), and TX
LULAC West Park Housing, L.P., a Texas limited partnership ("Borrower"). All of the parties to
this First Amendment are sometimes collectively referred to as the "Parties".
RECITALS:
A. The Parties executed and entered into that certain HOME Loan Agreement (the
"Agreement"), executed as of November 9, 2007.
B. The defined terms used herein shall have the meanings ascribed to them in the
Agreement, unless otherwise defined in this First Amendment.
C. CCCIC and Borrower desire to make certain amendments to the Agreement.
NOW, THEREFORE, in consideration of the foregoing, the parties hereto agree that the
Agreement is hereby amended as follows:
1. VIII. Draw Re uests. Section 8.1 of Article VII of the Agreement shall be
amended to read as follows:
"8.1. Provided no Event of Default (as defined in the Loan Documents} has occurred or
remains uncured, the CCCIC will deliver up to $634,124.00 to Borrower, through separate
draw requests, to be used by Borrower to construct the Project."
2. Agreement. Except as modified hereby, the Agreement remains in full force and
effect. To the extent of any conflict between the terms of the Agreement and this First
Amendment, this First Amendment shall control.
3. Texas Law to Apply. This First Amendment shall be construed under and in
accordance with the laws of the State of Texas.
4. Parties Bound. This First Amendment shall be binding upon and inure to the
benefit of the parties hereto, and their xespective heirs, executors, administrators, legal
representatives, successors and assigns where permitted by this First Amendment.
5. Leal Construction. In case any one or more of the provisions contained in this
First Amendment shall for any reason be held invalid, illegal ar unenforceable in any respect, such
invalidity, illegality or unenforceability shall not affect any other provision hereof, and this First
Amendment shall be construed as if such invalid, illegal or unenforceable provision had never
been contained herein.
2009-590
11/17/09
•11TemplXPgrpwiselFirst Amendment to HOME Loan Agreement.doc i[~
CCCIC !• ~~~
6. Counterparts. This First Amendment may be executed in multiple counterparts,
each of which shall be deemed an original, but all of which together shall constitute one and the
same instrument.
7. Modification. This First Amendment may not be modified or amended except by a
written instrument signed by the parties hereto and referring specifically to this First Amendment.
[SIGNATURE PAGE FOLLOWS]
C:IDOCEIME~IIELIZAB~IILOCALS~11TemplXPgrpwiselFirst Amendment to HOME Loan Agreement.doc
0
IN WITNESS WHEREOk', this k'irst Amendment has been duly executed as of the day and
year first above written.
CCCIC:
CORPUS CHRISTI COMMUNITY IMPROVEMENT CORPORATION,
a Texas nonprofit corporation
By:
Name: +~- I'nC~.!'°~'r ~~ Z
Title: ~(`-~.,s`fi en ~'
BORROWER:
TX LULAC WEST PARK HOUSING, L.P.,
a Texas limited partnership
By: TX LULAC West Park Development, L.L.C.,
a Texas limited liability company,
its general partner
By: LULAC WEST PARK APARTMENTS,
a Texas non-profit charitable trust
J
N e: ~ ~!
Title: G~ ~ ~ `~
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.. ,...
SEL'~ET~~Y '~~~
C:IDOCUME-lIEL1ZAB~1ILOCALS~11TemplXPgrpwiselFirst Amendment to HOME Loan Agreement.doc