First Addendum to Agreement - 466 Works Community Development Corp - Bldg of 5 New Homes

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FIRST ADDENDUM TO AGREEMENT FOR PROGRAMS AND SERVICES WITH 466 WORKS COMMUNITY DEVELOPMENT CORPORATION (PILOT HOUSING SUBSIDY PROGRAM) THIS FIRST ADD I�DUM (this "Addendum") is made and entered into this � day of , 20 �, by and between the CITY OF SOUTH BEND, INDIANA, a mumcipa�c,rp�oration organized and operating under the laws of the State of Indiana, acting by and through its Board of Public Works (the "City"), and 466 WORKS COMMUNITY DEVELOPMENT CORPORATION (the "Organization"). RECITALS WHEREAS, the City and the Organization have entered into an agreement entitled "Agreement for Program and Services With 466 Works Community Development Corporation" dated December 20 2018,), providing for the Pilot Housing Subsidy Program (the "Program"); and WHEREAS, the parties desire to amend and extend the Agreement by this Addendum; and WHEREAS, the Organization further represents that it has taken all corporate action necessary to enter into this Addendum; and WHEREAS, the City believes that the actions contemplated by this Addendum are in the best interests of the health, safety and welfare of the City and its residents and that those actions comply with the public purposes and applicable provisions of state and local law. NOW THEREFORE, the parties mutually agree as follows: 1. Section 3 (Compensation for Program) of the Agreement is modified to read in its entirety as follows: The Organization shall be compensated up to Ninety -Nine Thousand Eight Hundred Seventy Five ($99,875.00) per residential structure built, with a total reimbursement not to exceed the Contract Amount. The Organization shall provide that person designated as the Contract Administrator by the City with a reimbursement request including all documentation reasonably requested by the Contract Administrator, which shall include but not be limited to a certificate of occupancy for the structure and a statement that the funds were used exclusively in furtherance of the Program, as set for the in this Agreement. The final request for reimbursement shall be received by the Contract Administrator no later than October 31, 2021. All funds unencumbered for the Program at the expiration of this Agreement shall be returned to the City. 2. Exhibit A to the Agreement is hereby amended and replaced with Exhibit.A to this Addendum.