2017.06.19 CC Packet - Laserfiche WebLink

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FIRST AMENDMENT TO FINANCING AGREEMENT THIS FIRST AMENDMENT TO FINANCING AGREEMENT is dated June [_1, 2017 (this "Amendment"), between the CITY OF HUGO, MINNESOTA (the "Issuer"), a municipal corporation under the Constitution and laws of the State of Minnesota, AUTISM OPPORTUNITIES FOUNDATION D/B/A MINNESOTA AUTISM CENTER (the 'Borrower"), a Minnesota nonprofit corporation, and WELLS FARGO BANK, NATIONAL ASSOCIATION (the "Lender"). WHEREAS, on November 1 ,2015, the Issuer issued a $8,800,000 Educational Facility Revenue Bond (Minnesota Autism Center Project), Series 2015 pursuant to that certain Financing Agreement dated as of November 1, 2015 by and between Issuer, Borrower, and Lender (the "Financing Agreement"); and WHEREAS, pursuant to that certain Financing Agreement Assignment (the "Assignment") dated as of November 1, 2015 by and between the Issuer and the Lender, the Issuer assigned all of its rights, title, and interest in the Financing Agreement to the Lender (except for certain rights of indemnification and to reimbursement for certain costs and expenses); and WHEREAS, the Lender and the Borrower have informed the Issuer that they have agreed to certain changes in the Financing Agreement; and WHEREAS, pursuant to a resolution of the Issuer adopted on June 19, 2017 (the "Resolution"), the Issuer has agreed to the requested changes to the terms of the Financing Agreement; and WHEREAS, the parties hereto wish to amend the Financing Agreement to reflect the certain amendments as set forth herein. NOW, THEREFORE, in consideration of $1.00 and other good and valuable consideration and the premises contained herein, the parties hereto agree as follows: 1. Capitalized terms not otherwise defined herein shall have the meanings given such terms in the Resolution or the Financing Agreement. 2. Section 2.10(a) of the Financing Agreement is hereby amended and restated in its entirety as follows: (a) Optional Redemption. Subject to any limitations set forth in a Continuing Covenant Agreement, the Bonds are subject to redemption in Authorized Denominations on any Interest Payment Date at the direction of the Borrower in accordance with Section 3.05, on behalf of the Issuer, in whole or in part, at a redemption price equal to the principal amount of the Bonds to be redeemed plus accrued interest thereon to, but not including, the redemption date, plus a premium expressed as a percentage of the amount to be redeemed as follows: 83292530