HomeMy WebLinkAboutA & S Petroleum, Inc.-Amendment to Agreement-*03.23.2009 60,k,,tmzej:
Jumpstart Small Business Assistance Program
AMENDMENT TO CONTRACT AGREEMENT
Contract # JBC18 (Amendment No. 1)
THIS AMENDMENT is made to a certain Contract (Contract # JBC18) dated the 8th
day of December, 2008 (herein referred to as the Contract # JBC18), by and between the City of
Waterloo, Iowa (herein referred to as the City) and A & S Petroleum, Inc. (herein referred to as
the Business),
WITNESSETH:
WHEREAS, the City and the Business have heretofore entered into said Contract #
JBC18 dated the 8th day of December, 2008; and,
WHEREAS, pursuant to Contract # JBC 18, the City provided financial assistance in the
form of a forgivable loan in the amount of$25,000.00; and,
WHEREAS, pursuant to the Grant Agreement between the City and the Iowa
Department of Economic Development (IDED Grant Agreement # 09-JMPST-09), the City has
agreed to provide additional financial assistance to the Business in the amount of $12,592.24;
and,
WHEREAS, the City and the Business desire to amend said Contract # JBC18
Agreement dated the 8th day of December, 2008 in order to provide additional financial
assistance to the Business in the amount of $12,592.24, with total financial assistance in the
amount of$37,592.24.
NOW, THEREFORE, the parties agree to amend page 1 of the Contract # JBC18
Agreement dated the 8th day of December, 2008 by striking $25,000.00 under the forgivable loan
amount and placing in lieu thereof $37,592.24, and the parties agree to amend page 6 of the
Contract # JBC 18 Agreement dated the 8th day of December, 2008 (the Exhibit B-Business's
Promissory Note) by striking TWENTY FIVE THOUSAND DOLLARS ($25,000.00) and
placing in lieu thereof THIRTY SEVEN THOUSAND FIVE HUNDRED NINETY TWO
DOLLARS AND TWENTY FOUR CENTS ($37,592.24). All other terms and conditions of the
Contract Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties have caused this Amendment to be executed,
effective as of the last date stated below.
CITY OF WATERLOO, IOWA A & S PETROLEU , NC
Tim Hurley, Mayor Saeed M. Rafiq ��\\
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Date: 3 " 3 0 5Date: (i
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