My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
K - Fully Executed
>
Meetings
>
2026
>
04. April
>
2026-04-21 10:00 AM - Commissioners' Agenda
>
K - Fully Executed
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
4/30/2026 9:39:05 AM
Creation date
4/30/2026 9:38:29 AM
Metadata
Fields
Template:
Meeting
Date
4/21/2026
Meeting title
Commissioners' Agenda
Location
Commissioners' Auditorium
Address
205 West 5th Room 109 - Ellensburg
Meeting type
Regular
Meeting document type
Fully Executed Version
Supplemental fields
Item
Request to Approve Amendment 4 - HopeSource-CIP (Teanaway Court/Cle Elum Build)
Order
11
Placement
Consent Agenda
Row ID
143720
Type
Agreement
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
83
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
PROMISSORY NOTE <br />(Sponsor Loan - County Funds) <br />$750,000 (u.s.)Cle Elum, Washington <br />,2026 <br />FOR VALUE RECEIVED, the undersigned ("Maker") promises to pay to the order of <br />HopeSource, a Washington nonprofit corporation, at its offices at 606 West 3rd Avenue, Ellensburg, <br />Washington 98926, or at such other place as the holder of this Promissory Note (hereinafter, <br />*Holder-) may from time to time designate in writing, the sum of Seven Hundred Fifty Thousand <br />and No/l00 Dollars ($750,000.00), or so much thereof as has been advanced, in lawful money of the <br />United States, with interest thereon from the date of this Promissory Note (hereinafter, this "Note") <br />until paid at the rate set forth below. Interest for each full calendar month during the term ofthis Note <br />shall be calculated on the basis of a 360-day year and twelve 30-day months. Interest for any partial <br />calendar month at the beginning or end of the term of this Note shall be calculated on the basis of a <br />365 or 366-day year and the actual number of days in that month. <br />l. Interest Rate. The interest rate hereunder (the uNote Rate") shall be zero percent <br />(0%) compounding annually. <br />2. Pavments. Payments hereunder shall be made solely from distributions of Cash <br />Flow or Capital Proceeds in accordance with Section 8.02 and Exhibit A-4 to the First Amended <br />and Restated Agreement of Limited Partnership of Maker dated as of the date hereof (the <br />'oPartnership Agreemenl') in accordance with the terms of the Partnership Agreement. In addition, <br />the aggregate amount of such payments shall not exceed 75Yo of then available Surplus Cash in <br />accordance with the terms of the Priority and Subordination Agreement. Notwithstanding any other <br />provisions of this Note, the full balance of this Note shall be due and payable in all events on or <br />before December 31, 2081 (the"Maturity Date"). <br />3. Maturitv. Unless sooner repaid by Maker, the entire unpaid principal balance of this <br />Note, plus any accrued but unpaid interes! and all other amounts owing shall be due and payable in <br />full on the Maturity Date. <br />4. Application of Pavments. Payments shall be applied: (i) first, to the payment of <br />accrued interest; (ii) second, at the option of Holder, to the payment of any other amounts owing under <br />this Note or secured by the Deed of Trust (as defined below), other than accrued interest and principal, <br />including, but not limited to advances Holder may have made for taxes, assessments, insurance <br />premiums, attorneys' fees or other charges on any property given as security for this Note and late <br />charges due hereunder; and (iii) third, to the reduction of principal of this Note. <br />5. Late Charee. If any amount payable hereunder is paid more than fifteen (15) days <br />after the due date thereof, Maker promises to pay a late charge of one percent (l%) of the delinquent <br />amount as liquidated damages for the extra expense in handling past due payments. <br />6. Securifv. This Note is secured by a Deed of Trust (the"Deed of Trusf') of even date <br />herewith and executed by Maker, encumbering Maker's interest in certain real property located in <br />PnovrssonY Nore <br />SPoNsoR LoAN (CouNrv FuNos) <br />Pece I
The URL can be used to link to this page
Your browser does not support the video tag.