HomeMy WebLinkAboutContracts & Agreements_101-2020FIRST AMENDMENT TO CDBG ECONOMIC DEVELOPMENT LOAN
PROGRAM AGREEMENT
This first amendment ("First Amendment") to the CDBG Economic Development Loan
Program agreement ("Agreement") dated October 1, 2013, by and between the City of Redlands,
a municipal corporation ("City"), and Hangar 24 Craft Brewery, LLC ("Hangar 24"), is made and
entered into this 19th day of May, 2020 City and Hangar 24 are sometimes individually referred
to herein as a Party and, together, as the Parties
RECITALS
WHEREAS, Hangar 24 has requested City to amend its existing Agreement with Hangar
24 to permit a deferral of Hangar 24's loan payment obligation during the months of March through
August 2020, due to the COVID-19 pandemic and the State of California and County of San
Bernardino Department of Public Heath orders to close Hangar 24's tap room and convert
operations to take out or delivery only, and
WHEREAS, it is also the desire of Hangar 24 to resume its loan payment obligations
commencing in September 1, 2020, and continue such monthly payments until all loan funds are
repaid in full, and
WHEREAS, City staff has contacted representatives of the CDBG program and has been
informed that there is no legal or other objection by CDBG representatives to City facilitating the
request of Hangar 24,
NOW, THEREFORE, City and Hangar 24 agree as follows
AGREEMENT
Section 1 Pursuant to Section 2 11 of the Agreement, City and Hangar 24 agree to
suspend Hangar 24's performance of its monthly payment obligations, as set forth in Section 2 04
of the Agreement, for the period commencing March 1, 2020, through August 31, 2020 Hangar
24's monthly payment obligations under the Agreement shall recommence immediately on
September 1, 2020, without further action by the Parties
Section 2 Except as otherwise expresses stated herein, all other provisions of the
Agreement shall remain unchanged and unaffected by this First Amendment and in effect
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IN WITNESS WHEREOF, the parties have executed this First Amendment, to be effective
as of May 19, 2020
CITY OF REDLANDS
HANGAR 24 CRAFT BREWERY, LLC
By By
Paul W Foster, Mayor Benjamin P`ook, anaging em.er
ATTEST
e Donaldson, City Clerk
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