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Amendment #01
Miscellaneous Agreement Between
The City of Fort Collins and Funding Partners for Housing Solutions, Inc.,
(dba “Funding Partners”) a Colorado non-profit corporation
This Amendment #01 (“Amendment”) is entered into by and between Funding Partners for Housing
Solutions, Inc., (dba “Funding Partners”) a Colorado non-profit corporation (the “Contractor”) and the
City of Fort Collins, Colorado, a municipal corporation (the “City”).
WHEREAS, Contractor and the City have entered into a Services Agreement dated November 1,
2012 (the “Agreement”); and
WHEREAS, the City desires to update Exhibit A-Services, Landmark Rehabilitation Loan
Program to bring this portion of the Agreement up to current standards; and
WHEREAS, Service Provider provided and concurs with the updated language.
NOW, THEREFORE, in consideration of the foregoing recitals and the mutual promises herein
contained, the parties agree to amend page 1 of Exhibit A to read as follows:
1. EXHIBIT A – SERVICES
LANDMARK REHABILITATION LOAN PROGRAM
The Contractor shall provide licensed mortgage loan originator services in compliance with C.R.S. § 12-61-901 et
seq. for the City’s Landmark Rehabilitation Loan Program (“Program”).
For purposes of this Program, Contractor delegates all its obligations, requirements and performance standards
within this Contract and Program Exhibit to its wholly-owned subsidiary Funding Partners Lending LLC (FPL),
provided that Contractor remains responsible for ensuring performance of the Services in accordance with the terms
of the Contract and this Exhibit. References to Contractor hereinafter shall mean Contractor through its delegee,
FPL.
The City will email Program applications to the Contractor along with the following documentation:
Total Program funding available for projects;
Work items and costs eligible for Program funding for each application;
Design review ranking of each application work item.
The City will designate a Contact Person for this Program. Within two weeks of receiving such information from
the City, the Contractor shall review the materials, approve conditional funding for each application, and notify the
Contact Person of its funding decisions. If the City approves the funding decisions, the Contractor shall send written
notification to each applicant of the funding decision and loan terms and conditions. The maximum loan amount
that can be approved by the Contractor is $7,500. The City will pay the approved loan amount directly to the
applicant.
Once a project approved for funding through the Program has been completed and inspected by the City, the
Contractor shall prepare a promissory note and deed of trust in accordance with the Fort Collins Municipal Code.
The form of the promissory note and deed of trust shall be approved by the City of Fort Collins Attorney’s Office.
Contractor will provide and coordinate presentation of all loan documents to borrower at the time of loan settlement
to collect original signatures. Contractor shall retain all original documents and permanent loan file, record all
appropriate documents as necessary and as the City may reasonably require, and issue release of collateral
obligations for loan repayment upon final satisfaction of the promissory note. Copies of all executed loan
documents will be provided to the City as supplement to the itemized transaction invoice. Public recording and
other third party fees shall be assessed and collected outside of closing from the City, as detailed within a closing
disclosure prepared by Contractor.
Contractor is entitled to collect the following compensation to implement the described program, but shall impose
DocuSign Envelope ID: 6FDEBC13-6C0C-4FF2-BA6F-1B68E78CD1BD
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no other fees, charges or surcharges from the City, borrower or any other person in connection with the performance
of services hereunder:
A one-time loan servicing transfer fee, assessed at $50.00 per file. Payable at the
time of servicing transfer from the City to Contractor.
A loan origination fee, as disclosed within the most recently published FP Loan Fee Schedule, shall be
payable by the City at time of loan closing.
Public recording fees at origination shall be payable by the City, collected at the time of related
service. Deed release fees at payoff will remain the responsibility of the borrower.
An annual servicing fee for outstanding loans held in portfolio, as disclosed within the most recently
published FP Loan Fee Schedule shall be payable by the City in January of each calendar year based
on the City’s outstanding portfolio as of prior 12/31. First annual servicing fee to be assessed January
2018.
Except as expressly amended by this Amendment #01, all other terms and conditions of the Agreement,
including the remainder of Exhibit A, shall remain unchanged and in full force and effect. In the event of
a conflict between the terms of the Agreement and this Amendment, this Amendment shall prevail.
IN WITNESS WHEREOF, the parties have executed this Amendment the day and year shown.
CITY OF FORT COLLINS, COLORADO
a municipal corporation
By:
Gerry Paul
Director of Purchasing
Date: _____________________
FUNDING PARTNERS FOR
HOUSING SOLUTIONS, INC.
a Colorado non-profit corporation
By:_____________________________
Joe Rowan
Director of Programs and Development
Date:____________________________
DocuSign Envelope ID: 6FDEBC13-6C0C-4FF2-BA6F-1B68E78CD1BD
3/27/2017 3/27/2017