HomeMy WebLinkAboutAgreement_Water Service_9/11/2025_FDEP STATE REVOLVING FUND
AMENDMENT 3 TO LOAN AGREEMENT DW502700
VILLAGE OF TEQUESTA
This amendment is executed by the STATE OF FLORIDA DEPARTMENT OF
ENVIRONMENTAL PROTECTION(Department) and the VILLAGE OF TEQUESTA,
FLORIDA, (Project Sponsor) existing as a local governmental entity under the laws of the State
of Florida. Collectively, the Department and the Project Sponsor shall be referred to as"Parties"
or individually as "Party".
The Department and the Project Sponsor entered into a State Revolving Fund Loan Agreement,
Number DW502700, as amended, authorizing a Loan amount of$2,631,932, excluding
Capitalized Interest; and
The Loan Amount, Semiannual Loan Payment amount,Loan Service Fee, and Project costs need
adjustment to reflect actual costs; and
Certain provisions of the Agreement need to be revised.
The Parties hereto agree as follows:
1. The total amount awarded is reduced by $804,969. The revised total amount
awarded is $1,826,963.
2. The Loan Service Fee is $36,539. The fee represents two percent of the Loan
amount excluding Capitalized Interest; that is,two percent of$1,826,963.
3. The total amount of the Loan is $1,863,502. This consists of$1,826,963 disbursed
to the Project Sponsor,plus accrued Capitalized Interest of$0, and service fee charges of
$36,539.
4. The Semiannual Loan Payment amount is hereby revised and shall be in the amount
of$52,488.98. Such payments shall be received by the Department on November 15, 2025 and
semiannually thereafter on May 15 and November 15 of each year until all amounts due
hereunder have been fully paid.
5. Subsection 2.03(1)of the Agreement is deleted and replaced as follows:
(1) The financial assistance authorized pursuant to this Loan Agreement consists of the
following:
1
State Resources Awarded to the Project Sponsor Pursuant to this Agreement Consist of the
Following:
State CSFA Title or State
Program CSFA Fund Source Funding Appropriation
Number Funding Source Number Description Amount Category
Original Drinking Water Drinking
Agreement Revolving Loan 37.076 Water Facility $1,826,963 140129
TF Construction
6. Project Costs are revised as follows:
The Project Sponsor and the Department acknowledge that changes in Project costs may
occur as a result of an audit. Unless this Agreement is amended subsequent to an audit,the
following Project disbursements shall be final.
CATEGORY PROJECT COSTS ($)
Construction and Demolition 1,826,963
Capitalized Interest 0
TOTAL(Loan Principal Amount) 1,826,963
7. All other terms and provisions of the Loan Agreement shall remain in effect.
REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
2
This Amendment 3 to Loan Agreement DW502700 may be executed in two or more
counterparts, any of which shall be regarded as an original and all of which constitute but one
and the same instrument.
IN WITNESS WHEREOF,the Department has caused this amendment to the Loan
Agreement to be executed on its behalf by the Secretary or Designee and the Project Sponsor has
caused this amendment to be executed on its behalf by its Authorized Representative and by its
affixed seal. The effective date of this amendment shall be as set forth below by the Department.
for
VILLAGE OF TEQUESTA
yor
Attest: Approved as to form and legal sufficiency:
Villa . erg Q - Q'° Village 4ttomey
SEAL
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for
STATE OF FLORIDA
DEPARTMENT OF ENVIRONMENTAL PROTECTIOI\
Secretary or Designee Date
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