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3.5 Interest Rate. Agency agrees to pay the City four and one-half percent <br />(4.5°x) 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 Reoavment. 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 />ATTEST: <br />Helen Ramos, City Clerk <br />ATTEST: <br />Helen 1Ramos, Secretary <br />Ieh:\wpwin\meetinp\eoune76.rp 1 <br />June 30, 1993 <br />-2- <br />Frank Gonzales, Mayor <br />REDEVELOPMENT AGENCY FOR <br />THE CITY OF CO'LTON, a public <br />body, corporate and politic <br />Connie Cisneros, Chairperson <br />