The URL can be used to link to this page

Home My WebLink AboutContracts & Agreements_47-1994_CCv0001.pdf CITY OF REDLANDS OFFICE OF THE CITY TREASURER REDLANDS, CALIFORNIA Date 12-28-98 INVOICE NO. FUND NO. 61 DEPT. Finance/Note Receivable CUSTOMER NO. PLEASE MAKE CHECK PAYABLE TO CITY r REDLANDS AND REFERENCE THE INVOICE NUMBER ON YOUR CHECK. MAIL OR BRIN JIM ROBBINS PAYMENT TO RO,BOX 5155 SAN BERNARDINO,CA 92412 OFFICE OF THE CITY TREASURER L SUITE 15B P.O.BOX 3005 REDLANDS,CA 92373 DESCRIPTION DATE REFERENCE CHARGE PAYMENT BALANCE January 1999 Note Payment FINAL PAYMENT Principal $438.79 Interest 3.06 $441.85 Commission for a four year term. Motion seconded by Councilmember Foster and carried unanimously. Cable TV Tolling A mnt - Councilmember Cunningham moved to approve an extension of a tolling agreement with TCI Cablevision of California, Inc. to May 1, 1995, to maintain the status quo while negotiations occur over the extension of a cable television franchise. Motion seconded by Councilmember Gilbreath and carried unanimously. Development Impact Fees Financing Agreement - Councilmember Cunningham moved to approve the development impact fees financing -_,.agreement between Jim Robbins and the City of Redlands in the amount of $18,228.00. Mr. Robbins of Stan Robbins & Associates is in the process of remodeling the old Smart and Final building on Church Street which will be occupied by the County of San Bernardino. MOU - Mid-Management Employees - On motion of Councilmember Gilbreath, seconded by Councilmember Gil, Council approved a Memorandum of Understanding between the Redlands Association of Mid- Management Employees (RAMME) and the City of Redlands covering the period January 1, 1995, through December 31, 1997, with Councilmembers Foster and Cunningham voting NO MOU-Management Emplqyee-s - On motion of Councilmember Gilbreath, seconded by Councilmember Gil, Council approved, with Councilmembers Foster and Cunningham voting NO, changes to salaries and benefits for the Management Employees, City Treasurer, and City Clerk as follows: I A two percent (2%) increase in base salary for members of this unit in January, 1995; an additional two percent (2%) increase in July 1995; and an additional one percent (1%) increase in January, 1996; 2. One additional floating holiday will be granted to members of this unit annually during the life of the agreement - this additional floating holiday will have to he used during the year it was accrued or will be forfeited; and 3. These changes to salary and benefits for Management Employees will remain in effect until December 31, 1996. PUBLIC COMMENTS The Redlands Assgeiation - On behalf of The Redlands Association, Tex Moore reported to Council the recent lawsuit against the City which is listed on the agenda for this meeting is being financed by contributions from citizens and not their dues. He then clarified the issue of their lawsuit and urged December 20, 1994 Page 6 CL` O G��E�6�ZKA.d i G� � illfO�N►* DEVELOPMENT IMPACT FEES FINANCING AGREEMENT A NOTE BETWEEN TTS CITY OF REDLANDS ("OBLIGOR") AND JIM ROBBINS ("OBLIGEE") The City of Redlands is agreeable to financing your development impact fees in the amount of$18,228 over a forty-eight month period with an interest rate of 6.85% for the first twelve months, 7.35% for the thirteenth through twenty-fourth month, 7.85% for the twenty-fifth through thirty-sixth month and 8.35% for the thirty-seventh through forty-eighth month of the agreement. Your monthly payments will range from $435.22 per month for year one, to $441.09 for year two, $450.35 for year three and $470.01 for year four. Your first payment becomes due on February 1, 1995 with final payment due on January 1, 1998. An amortization of your note is attached to this agreement. Under the terms of this agreement, the Obligee agrees to make timely monthly payments within ten days of each monthly due date. Failure to make payment within ten days of the due date will subject the Obligee to a late fee penalty of 25% of the current amount owed with an additional penalty of 5% for each day payment is not received beyond the eleventh day. Failure to make payment within thirty days of the current monthly due date will subject the Obligee to all penalties and the remaining principal plus any accrued interest will immediately become due and payable. In the event that the city must pursue legal remedy to collect the penalties plus the remaining principal and accrued interest, the Obligee agrees to pay the city's legal and administrative expenses related to the collection effort. Obligee understands that payments may be mailed to the City Treasurer, P.O. Box 3005, Redlands CA 92373 or delivered in person at the Treasurer's Office located at the Redlands Civic Center, 35 Cajon Street, Suite 15B. Obligee reserves the right to payoff the remaining principal balance plus any accrued interest in accordance with the amortization schedule and payment terms, which would thereby terminate this agreement. Approved ee� ;."ejjf ,�� December 20 , 1994 Saver Larson, Mayor Date City of Redlands("Obligor") Attest. December 20 , 1994 Lorrie oyzer, Ci I k Date Accepted by. L,w. December 21 , 1994 Jim Robbins ("Obligee") Date 4` P.O. BOX 3005 REDLANDS, CA 92373 .reed vaurr JIB! ROBBINS 12-20-1994 Pg 1 Compounding period...: Monthly Nominal annual rate..: 8.350 % Effective annual rate: 8.677 % Periodic rate......... 0.6958 % Equivalent daily rate: 0.02288 % CASH PLOW DATA -------------------------------------------------------------------------------- Event Date Amount # Period End-date -------------------------------------------------------------------------------- 1 Loan 01-01-95 18,228.00 1 2 Payment 02-01-95 435.22 12 Monthly 01-01-96 3 Payment 02-01-96 441.09 12 Monthly 01-01-97 4 Payment 02-01-97 450.35 12 Monthly 01-01-98 5 Payment 02-01-98 470.01 12 Monthly 01-01-99 AMORTIZATION SCHEDULE - Normal amortization Pmt Date Payment Interest Principal Balance Loan 01-01-1995 18,228.00 1 02-01-1995 435.22 126.84 308.38 17,919.62 2 03-01-1995 435.22 124.69 310.53 17,609.09 3 04-01-1995 435.22 122.53 312.69 17,296.40 4 05-01-1995 435.22 120.35 314.87 16,981.53 5 06-01-1995 435.22 118.16 317.06 16,664.47 6 07-01-1995 435.22 115.96 319.26 16,345.21 7 08-01-1995 435.22 113.74 321.48 16,023.73 8 09-01-1995 435.22 111.50 323.72 15,700.01 9 10-01-1995 435.22 109.25 325.97 15,374.04 10 11-01-1995 435.22 106.98 328.24 15,045.80 11 12-01-1995 435.22 104.69 330.53 14,715.27 1995 totals 4,787.42 1,274.69 3,512.73 12 01-01-1996 435.22 102.39 332.83 14,382.44 13 02-01-1996 441.09 100.08 341.01 14,041.43 14 03-01-1996 441.09 97.70 343.39 13,698.04 15 04-01-1996 441.09 95.32 345.77 13,352.27 16 05-01-1996 441.09 92.91 348.18 13,004.09 17 06-01-1996 441.09 90.49 350.60 12,653.49 18 07-01-1996 441.09 88.05 353.04 12,300.45 19 08-01-1996 441.09 85.59 355.50 11,944.95 20 09-01-1996 441.09 83.12 357.97 11,586.98 21 10-01-1996 441.09 80.63 360.46 11,226.52 22 11-01-1996 441.09 78.12 362.97 10,863.55 23 12-01-1 441.09 75.59 365.50 10,498.05 1996 totals 5,287.21 1,069.99 4,217.22 24 01-01-1997 441.04 73.05 368.04 10,130.01 25 02-01-1997 450.35 70.49 379.86 9,750.15 26 03-01-1997 450.35 67.84 382.51 9,367.64 JIM ROBBINS 12-20-1994 Pg 2 -------------------------------------------------------------------------------- Pmt Date Payment Interest Principal Balance 27 04-01-1947 450.35 65.18 385.17 8,982.47 28 05`01`1947 450.35 62.50 387.85 8,594.62 29 06-01-1997 450.35 59.80 390.55 8,204.07 30 07-01-1997 450.35 57.09 393.26 7,810.81 31 08-01-1997 450.35 54.35 396.00 7,414.81 32 09-01-1497 450.35 51.59 398.76 7,016.05 33 10-01-1997 450.35 48.82 401.53 6,614.52 34 11-01-1997 450.35 46.03 404.32 6,210.20 35 12-01-1997 450.35 43.21 407.14 5,803.06 1947 totals 5,394.44 699.95 4,694.99 36 01-01-1998 450.35 40.38 404.97 5,393.09 37 02-01-1998 470.01 37.53 432.48 4,960.61 38 03-01-1998 470.01 34.52 435.49 4,525.12 39 04-01-1998 470.01 31.49 438.52 4,086.60 40 05-01-1998 470.01 28.44 441.57 3,645.03 41 06-01-1998 470.01 25.36 444.65 3,200.38 42 07-01-1998 470.01 22.27 447.74 2,752.64 43 08-01-1998 470.01 19.15 450.86 2,301.78 44 09-01-1998 470.01 16.02 453.49 1,847.79 45 10-01-1998 470.01 12.86 457.15 1,390.64 46 11-01-1998 470.01 9.68 460.33 930.31 47 12-01-1998 470.01 6.47 463.54 466.77 1998 totals 5,620.46 284.17 5,336.29 48 01-01-1494 470.01 3.24 466.77 0.00 1999 totals 470.01 3.24 466.77 Grand totals 21,560.04 3,332.04 18,228.00