CC Resolution No. 7926
RESOIIJTION NO. 7926
A RESOIIJTION OF THE CIT1{ CXJONCIL OF THE CITY OF Cl.Jl'Uti'.LÑO
AU'lHORIZING EJŒaJTION BY THE MAYOR OF FIRST AMENr:MENT TO
AGREEMENT BEIWEEN CIT1{ OF Cl.Jl'Uti'.LÑO AND OONAID D. BROWN
RE HOUSING AGREEMENT
WHEREAS, an Amendment to the Agreement between the City of OJpert:ino
an::l Donald Brown regardin;J housin;J assistance dated March 6, 1989 has been
presented to the City Council aro. said Amendment havin;J been approved by
the City Attorney.
NOO, THEREFORE, BE IT RESOLVED that the Mayor of the city of OJpert:ino
is hereby authorized to execute said Amendment on behalf of the city of
OJpert:ino.
PASSED AND AIJOPI'ED
city of OJpertino this
vote:
at a regular meetin;J of the city Council of the
5th day of September by the following
Vote Members of the City Council
AYES: Johnson, Koppel, Rogers, P1ungy
NOFS: None
ABSENT: Gatto
ABSTÞ.JDN: None
A'ITEST: APPROVED:
/sl Dorothv Cornelius
City Clerk
Isl John J. P1ungy, Jr.
Mayor, City of OJpertino
~,f';J
FIRST AMENDMENT TO AGREEMENT BETWEEN
THE CITY OF CUPERTINO AND DONALD BROWN
REGARDING HOUSING ASSISTANCE
IT IS HEREBY AGREED AS FOLLOWS:
1. Paragraph JA(4) of the Agreement between the
City of Cupertino and Donald Brown dated March 6, 1989
shall be amended to read:
4) a loan by City to Brown not to exceed
$ 239,000 to be used for the purchase of a
residence of Brown's choosing within City of
Cupertino. Said residence shall be occupied
by Brown as his primary residence. Said loan
is to be secured by a first deed of trust
encumbering the residence. Said promissory
note shall be for a term not to exceed 30
years and shall bear interest at the rate of
eight percent (8%) per annum fixed and shall
be paid in equal monthly installments of prin-
cipal and interest.
. . .
2. All other terms of said Agreement remain in
full force and effect.
3. This amendment shall become effective only
upon the consent and agreement thereto by Cheryl Brown,
and shall become null and void if she shall refuse to
execute any or all other documents deemed necessary by
City to consummate this transaction in its entirety.
City of Cupertino
Dated:
Donald Brown
John Plungy, Mayor
I agree and consent to
each of the provisions
of this Agreement.
ATTEs'r
City Clerk
Cheryl Brown
A;Z;¡¡~
Charles T. llian
City Attorney
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