Ordinance 2001-136 - Laserfiche WebLink

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the Agreement. After the final disbursement of Loan proceeds, the Loan principal will be adjusted to reflect the actual dates and amounts of disbursements. Accordingly, the Semiannual Loan Payment amount shall be adjusted, taking into consideration any previous payments. Until the principal amount of the Loan is amended, the Semiannual Loan Payment shall be in the amount of $41 ,697. The interest and Grant Allocation Assessment portions of each Semiannual Loan Payment shall be computed on the unpaid balance of the principal amount of the Loan, which principal amount includes Capitalized Interest. Interest (at the combined rate of Loan interest and Grant Allocation Assessment) shall also be computed on the unpaid balance of the Loan Service Fee and Loan Service Fee capitalized interest. The interest and Grant Allocation Assessment on the unpaid balance shall be computed as of the due date of each Semiannual Loan Payment. Unless repayment is deferred by an amendment to this Agreement, Semiannual Loan Payments shall be received by the Department beginning on August 15, 2004, and semiannually thereafter on February 15 and August 15 of each year until all amounts due have been fully paid. Funds transfer shall be made by electronic means. The Semiannual Loan Payment amount is based on the total amount owed of $71 0,270, which consists of the Loan principal plus the Loan Service Fee with its capitalized interest. 10.06. PROJECT RELATED COSTS. The Local Government and the Department acknowledge that actual Project costs or Preconstruction Activities allowances have not been determined as of the effective date of this Agreement. An adjustment to Preconstruction Activities allowances may be made due to a reduction in the scope of work proposed for Loan funding as a result of the planning process. Failure to achieve Department acceptance of plans and specifications for all facilities proposed for Loan funding prior to the date specified for authorization to incur Construction Related Costs may cause adjustment of the Preconstruction Activities Allowances. Capitalized Interest will be recalculated based on actual dates and amounts 6t.1:oan di~bursements. The final Project costs and all allowances shall be established in the final amendment. Changes in Project costs or Preconstruction Activities allowances may also occur as a result of the Local Government's audit or the Department's audit. REMAINDER OF PAGE INTENTIONALLY LEFT BLANK 14