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HomeMy WebLinkAboutC17-199 EnergySmart Partners LLCTHIRD AMENDMENT TO AGREEMENT BETWEEN EAGLE COUNTY, COLORADO AND ENERGYSMART PARTNERS, LLC FOR ADMINISTERING AN ENERGY EFFICIENCY AND RENEWABLE ENERGY REVOLVING LOAN FUND PROGRAM THIS THIRD AMENDMENT ("Third Amendment") is executed on 06/13/2017 and effective as of June 11, 2017 by and between EnergySmart Partners, LLC ("ESP") a Colorado limited liability corporation, a wholly owned subsidiary of Funding Partners for Housing Solutions, Inc., a non-profit organization certified by the United States Treasury as a Community Development Financing Institution ("CDFI") as Loan Fund Administrator, and the County of Eagle, Colorado ("County"), a body corporate and politic by and through its Board of County Commissioners. RECITALS WHEREAS, County and ESP are parties to an Agreement for Administering and Energy Efficiency and Renewable Energy Loan Fund Program dated the 11th day of June, 2012, for certain Services (the "Original Agreement"); and WHEREAS, County and ESP entered into a First Amendment to the Agreement to allow residents of Lake County to participate in the program on If" day of November, 2013 (the "First Amendment"); and WHEREAS, County and ESP entered into a Second Amendment to the Agreement to allow additional expansion and access to the Energy Smart Program on 28t11 day of July, 2015 (the "Second Amendment"); and WHEREAS, the term of the Original Agreement, the First Amendment and the Second Amendment (collectively referred to as the "Agreement") expire on the 11th day of June, 2017, and the parties desire to extend the term for an additional year. 911:11;7117►►1 0►1 R7 k 101641ll NOW THEREFORE, in consideration for the monies to be received, the covenants and conditions set forth in the Agreement and this Third Amendment, and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, ESP and County agree to amend the Agreement as follows: 1. Terms. Capitalized terms in this Third Amendment will have the same meaning as in the Agreement. To the extent that the terms and provisions of the Third Amendment conflict with modify or supplement portions of the Agreement, the terms and provisions contained in the Third Amendment shall govern and control the rights and obligations of the parties. C17-199 2. The term of the Agreement is hereby extended to June 11, 2018. 3. ESP Compensation: Paragraph 2 of the Original Agreement shall be replaced with the following language: For the above described activities, ESP shall receive from the borrowers a onetime non-refundable fee in the amount of $25 which shall be due and billable upon submittal of all energy efficiency and renewable loans. An additional origination fee in the amount of $400 shall be paid to ESP at time of loan settlement. ESP shall receive 2% of all interest paid on each of the loans outstanding. Public recording and any other third party service fees are the responsibility of the borrower and shall be assessed by ESP at the time of loan settlement. 4. Exhibit 1. In Exhibit 1 Fees Collected Section, shall be replaced with the following: Application ($25) fee shall be collected at the time of submission of the Application, Origination ($400), public recording and other third party fees shall be assessed and collected at time of settlement, as detailed within a settlement statement prepared by ESP. Distribution of loan proceeds shall be net of loan settlement fees. 5. Except as expressly altered, modified and changed in this Third Amendment, all terms and provisions of the Original Agreement shall remain in full force and effect, and are hereby ratified and confirmed in all respects as of the date hereof. 6. This Third Amendment shall be binding on the parties hereto, their heirs, executors, successors, and assigns. IN WITNESS WHEREOF, the parties hereto have executed this Third Amendment to the Original Agreement the day and year first above written and the effective date is June 11, 2017. COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its BOARD OF COUNTY COMMISSIONERS Jillian H. Ryan, Chair Attest: LIN E7*'!""i"1*.'�'.'.'�""'1*.b-.'.... - Regina O'Brien, Clerk to the Board EnergySmart Partners, LLC a Colorado limited liability corporation, a wholly owned subsidiary of Funding Partners for Housing Solutions, Inc. Joe Rowan PI'II7L Name: Title: Director of Programs