FIRST AMENDMENT TO CONSTRUCTION LOAN AGREEMENT
Lot 9 - C-Loan
FIRST AMENDMENT
TO
CITY OF CLEARWATER
CONSTRUCTION LOAN AGREEMENT
BETWEEN
MT. CARMEL COMMUNITY DEVELOPMENT CORPORATION OF
CLEARWATER, INC.
And
CITY OF CLEARWATER
This First Amendment ("Amendment") made on this ?Jy~ day of Ut1., , 2006,
to the Construction Loan Agreements (the "Agreements") is entered into ~ day of
March, 2006 by and between the CITY OF CLEARWATER (herein, "Lender" or
"CITY"), a municipal corporation, whose address is Post Office Box 4748, Clearwater,
Florida 33758 and the MT. CARMEL COMMUNITY DEVELOPMENT
CORPORATION OF CLEARWATER, INC., a Not for Profit Florida Corporation,
("Borrower"), whose address is: 1014 Pennsylvania Avenue, Clearwater, Florida 33755:
and,
WHEREAS, the Lender made a loan to the Borrower in the principal amount of
ONE HUNDRED & FIFTY THOUSAND and NO/OO--------------DOLLARS
($150,000.00), in favor of the City and second Mortgage (the "Mortgage") encumbering
real property located in Pinellas County, Florida, more particularly described below
follows (the "Property"), for the construction of a single family residence; and
WHEREAS, in the Agreement and Mortgage the incorrect legal description was
used to described the subject real property as below:
Lot 7, GREENWOOD MANOR, according to the plat thereof as recorded in
Plat Book 21, Page 65, of the Public Records of Pinellas County, Florida; and
WHEREAS, the legal description in the Agreement should read as follows:
Lot 9, GREENWOOD MANOR, according to the plat thereof as recorded in
Plat Book 21, Page 65, of the Public Records of Pin ell as County, Florida; and
WHEREAS, all other terms and conditions of the March 22, 2006 Agreement shall
remain in full force and effect.
Page 1 of2
Lot 9 - C-Loan
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of
the date first above written.
By: Mt. Carmel Community Development Corporation of Clearwater, Inc., a not
for profit organization
By:
k
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(Y) All tl., l L':'" C. /Y} I ~ KliM
Print
P(l,eS / C~O
,
Title
Witness
Witness
Countersigned:
~/.~
Frank V. Hibbard
Mayor
Qved~Jlo~
~1/ff~' /. ~
Br D..Ruff
Assistant City Attorney
Page 2 of2
CITY OF CLEARWATER,
FLORIDA
B~.~7I
William B. Home, II
City Manager
Attest:
~~[. JL Q"
C ia E. Goudeau
City Clerk