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AMENDED AGREEMENT FOR LOAN AND REPAYMENT <br />COOLEY RANCH REDEVELOPMENT PROJECT AREA <br />Page 2 <br />May 16, 1995 <br />from the Electric Utility Loan have been repaid with interest as provided by <br />this Agreement. <br />3.5 Interest Rate. Agency agrees to pay the City four and one-half percent <br />(4.5%) interest per annum on the Electric Utility Loan in accordance with the <br />terms of this Agreement at the time of payment of the Electric Utility Loan. <br />3.6 Repayment. Agency agrees to repay City the sum of the loan from revenue <br />generated from mobilehome conversion to home ownership and from net <br />operating income generated ("Available Revenue") from the Agency's <br />operation of the Park during the term of the Electric Utility Loan, as such <br />revenues become available for such purpose. <br />IN WITNESS WHEREOF, the City and Agency have executed this Agreement as of the <br />date first above written. <br />CITY OF COLTON, <br />a municipal corporation <br />Nabar Enrique Martinez, City Manager <br />ATTEST: <br />Helen Ramos, City Clerk <br />REDEVELOPMENT AGENCY FOR THE CITY <br />OF COLTON, a public body, corporate and <br />politic <br />Nabar Enrique Martinez, Executive Director <br />ATTEST: <br />Helen Ramos, Assistant Secretary <br />Ish:\w pw in\admin\mmtirp\soun0619.rp2 <br />May 11, 1995 — 1001-0236 <br />