HomeMy Public PortalAbout2006.10.01 Valley/Adams Regional Housing Authority Contract For Services.: l 1 ctk_ v (3-1 � t'
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JOINT POWERS AGREEMENT
BETWEEN
VALLEY COUNTY, ADAMS COUNTY,
AND THE CITIES OF
CASCADE, DONNELLY, McCALL, NEW MEADOWS, AND COUNCIL
ON THE FUNCTION AND OPERATION OF THE
VALLEY/ADAMS REGIONAL HOUSING AUTHORITY
AND APPOINTMENT OF COMMISSIONERS
THIS AGREEMENT is made and entered into this day of , 2006
by and between Valley County and Adams County, political subdivisions of the State of
Idaho, and the Cities of Cascade, Donnelly, McCall, New Meadows, and Council, bodies
corporate and politic of the state of Idaho.
WHEREAS the Valley County Board of Commissioners has created by resolution a
Housing Authority, the Valley/Adams Regional Housing Authority (VARHA), to
effectuate the purposes and provisions of Idaho Statutes Title 31, Chapter 42 within
Valley County; and
WHEREAS Adams County has authorized by resolution the Valley/Adams Regional
Housing Authority to function within Adams County and to effectuate the purposes and
provisions of Idaho Statutes Title 31, Chapter 42 within Adams County; and
WHEREAS the Cities of Cascade, Donnelly, McCall, New Meadows, and Council have
each authorized by resolution the Valley/Adams Regional Housing Authority to function
within their respective municipal jurisdictions and to effectuate the purposes and
provisions of Idaho Statutes Title 50, Chapter 19 within those respective jurisdictions;
and
WHEREAS Idaho Code Title 31, Chapter 4210 requires the Board Commissioners of
Valley County to appoint Commissioners to the Valley/Adams Regional Housing
Authority; and
WHEREAS Idaho Code Title 31, Chapter 42.05 and Title 50, Chapter 19.05 state that
nothing in the Acts prevents governing bodies from jointly creating by resolution a public
body corporate and politic to carry out and effectuate the purposes and provisions of Title
31, Chapter 42 and Title 50, Chapter 19; and
WHEREAS Idaho Code Title 67, Chapter 23.26 permits public agencies to make the
most efficient use of their powers by enabling them to cooperate to their mutual
advantage and thereby provide services and facilities and perform functions in a manner
that will best accord with geographic, economic, population, and other factors influencing
the needs and development of the respective entities; and
Joint Powers Agreement
Valley/Adams Regional Housing Authority
Page 1 of 6
WHEREAS Idaho Code Title 67, Chapter 23.28 allows public agencies to exercise and
enjoy jointly with other public agencies any power, privilege, or authority authorized by
the Idaho Constitution, Statute, or Charter which both public agencies hold; and
WHEREAS Valley and Adams Counties, and the Cities of Cascade, Donnelly, McCall,
New Meadows, and Council find that a joint selection of members to serve as
Commissioners for the Valley/Adams Regional Housing Authority would aid in the
accomplishment of their housing goals; and
WHEREAS such a joint exercise of their respective powers to appoint Commissioners to
the Valley/Adams Regional Housing Authority Board of Commissioners would not
expend any additional taxpayer funds and would contribute to the efficiency and
operations of the said Housing Authority;
NOW THEREFORE Valley and Adams Counties, and the Cities of Cascade, Donnelly,
McCall, New Meadows, and Council hereby mutually agree to the following terms and
conditions:
1) AUTHORIZATION, PURPOSE, AND POWERS: The parties to this
agreement hereby confirm that they have each authorized the Valley/Adams
Regional Housing Authority to function as a Housing Authority under the laws of
the State of Idaho within their respective jurisdiction and to exercise all of the
powers and to carry out and effectuate the purposes and provisions specified in
Idaho Statutes Title 31, Chapter 42 and/or Idaho Statutes Title 50, Chapter 19,
whichever may be applicable. The referenced Sections of these Statutes are
attached to this Agreement as "Exhibit A.
2) ESTABLISHMENT OF A BOARD OF COMMISSIONERS: The
Valley/Adams Regional Housing Authority shall have one appointed Board of
Commissioners consisting of seven (7) appointees.
3) RESPONSIBILITY FOR APPOINTMENT AND TERM OF SERVICE:
Each of the seven (7) Board seats shall be numbered and assigned for
appointment purposes as follows. Each initial appointment shall expire at the date
specified below. Each subsequent appointment shall be for a period of three years:
SEAT #
Seat 1
Seat 2
Seat 3
Seat 4
Seat 5
Seat 6
Seat 7
Initial Expiration Date
September 1, 2007
September 1, 2007
September 1, 2008
September 1, 2008
September 1, 2009
September 1, 2009
September 1, 2009
Appointed By
Valley County
Adams County
City of Cascade
City of Donnelly
City of McCall
City of New Meadows
City of Council
Joint Powers Agreement
Valley/Adams Regional Housing Authority
Page 2 of 6
4) PROCESS FOR APPOINTMENT OF COMMISSIONERS: The VARHA
shall notify the appropriate municipal body when there is a vacancy or renewal of
the seat assigned to that body. Appointment shall be made by the said municipal
body in accordance with whatever procedures may be adopted by said body,
provided that all appointments shall be in conformance with the requirements of
Idaho Statutes Title 31, Chapter 42 or Idaho Statutes Title 50, Chapter 19,
whichever shall be applicable to the said body.
If any municipality revokes its authorization for the VARHA to function within
its jurisdiction, then the term of the Commissioner appointed by that municipality
shall immediately expire. If any seat remains vacant for more than six months
after written notification from VARHA to the municipal body that a vacancy
exists, or if any of the parties to this agreement revokes its authorization for the
VARHA to function within its jurisdiction, then the remaining members of the
VARHA Board of Commissioners shall nominate a candidate to fill the vacant
seat. Confirmation of that candidate will require approval by a simple majority of
the municipal bodies which remain a party to this agreement.
5) REMOVAL OF A COMMISSIONER: A Commissioner may be removed by
the appointing body with or without cause in accordance with whatever
procedures may be adopted by said body, provided that such procedures shall be
in conformance with the requirements of Idaho Statutes Title 31, Chapter 42 or
Idaho Statutes Title 50, Chapter 19, whichever shall be applicable to the said
body.
6) EFFECTIVE DATE: This agreement shall become effective upon execution by
the parties hereto and shall continue in effect until December 31, 2025 unless
terminated by the parties hereto pursuant to paragraph 9, herein. In the event that
any of the above identified municipal bodies does not execute this agreement, or
later terminates its participation in this agreement or revokes, in writing, its
authorization for the VARHA to operate within its jurisdiction, this agreement
shall be and remain in effect with respect to those municipal bodies which have
executed, and not terminated, this agreement as of the date of the said municipal
body's execution. This agreement may be renewed upon written consent of
whichever municipal bodies remain party to the agreement at the time of its
expiration.
7) MANNER OF FINANCING: At the request of the Commissioners of the
VARHA, Valley County shall transfer to the VARHA such funds as have been
budgeted by Valley County for the organization's initial year of operations and
which have not, as of the date of said transfer, already been expended for such
purpose. Financing for subsequent years of operation shall be provided by means
of administrative fees charged to parties which utilize the services of the
VARHA. Such fees shall be specified in a "Contract for Services" which the
Joint Powers Agreement
Valley/Adams Regional Housing Authority
Page 3 of 6
VARHA shall execute with each party to this Agreement. The Board of
Commissioners of the VARHA shall cause to be prepared at the end of each
calendar year (or at such other date as the Board may determine) a budget setting
out projected income and expenses for the ensuing 12 month period and a
reconciliation of actual versus projected income and expense for the previous 12
months. Copies of these documents shall be provided to each party to this
Agreement within 30 days of their completion.
8) EFFECT UPON THE CURRENT VALLEY/ADAMS REGIONAL
HOUSING AUTHORITY: Upon execution of this agreement, the
Valley/Adams Regional Housing Authority, as created by resolution of the Valley
County Board of Commissioners on January 23rd, 2006, shall be reconstituted and
merged into a joint authority of the jurisdictions party to this agreement with no
termination or lapse between the two. The name "Valley/Adams Regional
Housing Authority" shall be adopted by the joint authority, (subject to change at a
later date).
9) TERMINATION: Any party to this agreement may terminate its participation
and withdraw from this agreement upon 60 days written notice of its intent to
withdraw and revocation of its authorization for the VARHA to function within
its jurisdiction. Said notice shall be delivered to the VARHA and each of the
other parties to this agreement. In the event that a party terminates its participation
or withdraws from this Agreement, any funds or property contributed by that
party and/or held by the VARHA on behalf of that party (excluding that portion
designated for administrative expenses of the VARHA), shall be returned to that
party. Except as described in paragraph 4, above, such termination shall not
affect the terms of office of Commissioners of the VARHA then holding office.
10) AMENDMENTS: This agreement may be amended, altered or modified only by
a writing duly executed by all parties to this agreement.
ACCEPTED AND AGREED TO:
On Behalf of Valley County
By
F. Phillip Davis, Chairman, Board of County Commissioners Date
Joint Powers Agreement
Valley/Adams Regional Housing Authority
Page 4 of 6
On Behalf of Adams County Date
By
(Printed Name and Title of Authorized Representative)
On Behalf of The City of Cascade Date
By
(Printed Name and Title of Authorized Representative)
On Behalf of The City of Donnelly Date
By
(Printed Name and Title of Authorized Representative)
On Behal
By
all Date
Wi • am A. Robertson, Mayor
Joint Powers Agreement
Valley/Adams Regional Housing Authority
Page 5of6
On Behalf of The City of New Meadows Date
By
(Printed Name and Title of Authorized Representative)
On Behalf of The City of Council Date
By
(Printed Name and Title of Authorized Representative)
Joint Powers Agreement
Valley/Adams Regional Housing Authority
Page 6 of 6
CONTRACT FOR SERVICES
THIS AGREEMENT made and entered into this MSY day of d6t— , 20 06 , by and
between the CITY/COUNTY OF McCALL, IDAHO, (hereinafter referred to as "McCall") and
the VALLEY/ADAMS REGIONAL HOUSING AUTHORITY, an Idaho housing authority
(hereinafter referred to as "VARHA").
WITNESSETH:
WHEREAS, the VARHA was established by the Valley County Board of
Commissioners, with the financial assistance and support of Valley County and currently
operates under a Joint Powers Agreement between Valley and Adams Counties and the Cities of
McCall, Cascade, Donnelly, and New Meadows, to address the housing needs of employees and
residents throughout the two Counties, and the named Cities;
WHEREAS, the VARHA has the ability and charge to acquire funding, build, administer,
and operate affordable community housing and community housing programs, and advocate for
affordable housing issues throughout the two Counties and the named Cities;
WHEREAS, City of McCall has in place a number of zoning ordinances and other
incentives for the development of community housing within the City of McCall limits;
WHEREAS, the VARHA is, or will be, responsible for the on -going administration of a
number of deed -restricted affordable housing units in the City of McCall;
WHEREAS, the City of McCall and VARHA anticipate that the City 2006-2007
contribution will be a "one time event" and that VARHA will eventually fund itself through
payment for the services it provides.
NOW, THEREFORE, the parties hereto covenant and agree as follows:
VARHA/ City Of McCall Contract for Service 8/22/2006
1
1. SERVICES: The VARHA, as independent contractor, hereby contracts with City of
McCall to provide guidance, oversight, review and general assistance in the creation of
quality affordable housing that meets the needs of the City of McCall community.
Included in the list of services that the VARHA will provide for City of McCall are:
a. Advisement and information on model ordinances for consideration by the City of
McCall Planning and Zoning Commission for the amendment and creation of new
City of McCall zoning ordinances that address provisions for affordable housing;
b. Assistance with long-range comprehensive planning for affordable housing
throughout City of McCall;
c. Review of and recommendations on any and all private development proposals
within City of McCall that include the provision of affordable housing, as
required by the appropriate zoning ordinance(s) and City of McCall policies;
d. Budgeting and spending of any and all affordable housing in -lieu fees collected
by City of McCall, according to the budgeting and spending policies adopted by
City of McCall;
e. Providing credit counseling and homebuyer education to prepare citizens for the
purchase of deed -restricted homes;
f. Marketing and sales of all deed -restricted for -sale affordable housing in City of
McCall, according to the procedures and rules City of McCall and the Community
Housing Guidelines of the VARHA;
g. Monitoring and inventorying of any and all deed -restricted rental and for -sale
affordable housing in City of McCall, ensuring compliance with said deed -
restrictions and appropriate zoning ordinances;
h. Participating in the development of VARHA-owned affordable housing and
partnering with other developers in the creation of affordable housing;
i. Any other reasonably related advisement or review requested by the City of
McCall City Council, Mayor and Planning and Zoning Commission.
2. HOUSING LIAISON/COMMISSIONER: The Mayor of the City of McCall, as per the
procedures outlined in the Joint Powers Agreement, shall appoint a Housing Authority
Commissioner, who shall also act as a Community Housing Liaison ("Liaison") from the
VARHA/ City Of McCall Contract for Service 8/22/2006
2
City of McCall and who will be the primary contact between the VARHA and the City of
McCall. The Liaison shall keep the City of McCall informed of all VARHA meetings
and actions taken therein, and the Liaison shall represent City of McCall on all matters
related to VARHA Community Housing policy.
3. TERM: The term of this Agreement shall commence on October 13, 2006, and shall
automatically renew for one year terms unless terminated pursuant to Paragraph 6, herein,
or otherwise agreed by the parties.
4. PAYMENTS: In consideration for providing the professional services as herein
provided, City of McCall agrees to allow the VARHA to be compensated in the
following manner:
a. The City of McCall will provide operational support for fiscal year 2006-2007 in
the amount of Seventy Five Thousand Dollars ($75,000.00). Payment will be on
the following schedule:
i. $20,000 upon execution of the contract
ii. $20,000 on or before January 15, 2007
iii. $20,000 on or before April 15, 2007
iv. $15,000 on or before July 15, 2007
b. The VARHA will collect and retain for operating overhead an administrative fee
of ranging from 2% to 4% of the sales price of all deed -restricted for -sale housing
in the City of McCall. This fee will be 3.5% on all newly developed housing and
1 % per year of ownership (but not less than 2% nor more than 4%) on housing re-
sold by individual owners of community housing. This administrative fee is
further described in the Community Housing Guidelines and is paid by the seller
of the property to the VARHA to compensate the VARHA for its activities under
Paragraph 1, above.
5. REPORTING: The VARHA shall provide quarterly reports on the activities of the
VARHA to the City of McCall via the Housing Authority Liaison/Commissioner. These
quarterly reports shall be delivered no later than 30 days after the close of each quarter in
VARHA/ City Of McCall Contract for Service 8/22/2006
3
the fiscal year. Additionally, the VARHA shall deliver to City of McCall quarterly
unaudited financial statements (including status of any collected fees and Housing
Reserve Accounts held or administered on behalf of the City of McCall), no later than 30
days after the close of each quarter in the fiscal year. Further, the VARHA shall deliver
to the City of McCall an annual audited financial statement and an annual report, no later
than 90 days after the close of the fiscal year. A summary of the reporting schedule is as
follows:
REPORT DEADLINE FOR DELIVERY
1 st Quarter Report and Unaudited Financial Statement January 31
2nd Quarter Report and Unaudited Financial Statement April 30
3rd Quarter Report and Unaudited Financial Statement July 31
4`h Quarter Report and Unaudited Financial Statement October 31
Annual audited Financial Statement December 31
Annual Report December 31
6. TERMINATION: Not withstanding any contrary provision of this Agreement, either
party to this Agreement can terminate the Agreement by 30 days written notice to the
other party.
7. SERVICE: VARHA covenants and agrees that it shall provide, at its sole expense, all
costs -of administrative services, labor, materials, supplies, business overhead and
financial expenses, insurance, fidelity bonds, all necessary equipment and facilities
necessary to provide the services as set for the in this Agreement.
8. NOTICES: All notices to be served pursuant to this Agreement or which are served
with regard to this Agreement shall be sent by certified mail to the parties hereto.
9. EQUAL EMPLOYMENT OPPORTUNITY: VARHA covenants and agrees that it
shall not discriminate against any employee or applicant for employment because of race,
religion, color, sex or national origin.
VARHA/ City Of MCCaii Contract for Service 8/22/2006
4
10. DEFAULT: The parties hereto covenant and agree that in the event VARHA fails,
refuses or is unable to provide the services as set for the hereinabove the same shall
constitute a default under the terms of this Agreement, and that the City of McCall may
elect to terminate this Agreement upon ninety (90) days written notice to VARHA.
Furthermore, this Agreement shall be terminable upon five (5) days written notice for
cause if VARHA is adjudicated bankrupt, or subject to the appointment of a receiver, or
has any of its property attached, or becomes insolvent, or is unable to pay its debts as the
same become due.
11. NONASSIGNMENT: This Agreement, in whole or in part, may not be assigned
or transferred by VARHA to any other party except with the prior written consent of the
City of McCall.
12. ENTIRE AGREEMENT: This agreement contains the entire Agreement between the
parties hereto and shall not be modified or changed in any manner, except by prior
written agreement executed by the parties, hereto. If any term or provision of this
Agreement or application thereof shall be declared invalid or unenforceable by a Court of
competent jurisdiction, the remainder of this Agreement shall not be affected thereby and
shall remain in full force and effect.
13. SUCCESSION:
either party hereto.
This Agreement shall be binding upon all successors in interest of
14. LAW OF IDAHO: This Agreement shall be construed in accordance with the laws of
the State of Idaho
VARHA/ City Of MCCaii Contract for Service 8/22/2006
5
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on the
day and year first written above.
VALLEY/ADAMS REGIONAL HOUSING CITY OF 111(1 Cot l
AUTHORITY .0,2e,
By By Tr/v
C p�• rper:on City of McCall Mayor
ATTEST:
By
VARHA/ City Of MCCaii Contract for Service 8/22/2006
6
of McCall _ �� y Clerk
Dec 13 07 01:22p Galena Eng Ketchum 2087264783 p.2
ADDENDUM to the
CONTRACT for SERVICES
The Contr ct for Se vices between Valley Adams Regional Housing Authority and the City of McCall
dated 06t-sobzr 20el. is hereby amended, by this ADDENDUM. Following execution by
VARHA and the City of McCall, this ADDENDUM modifies and becomes a part of the original
Contract for Services.
VARHA and the City of McCall agree to amend Paragraph 4 and 4(a) as follows:
4. PAYMENTS: In consideration for providing the professional services as herein
provided, City of McCall agrees to allow the VARHA to be compensated in the following
manner:
a. The City of McCall will provide operational support for fiscal year 2007-2008 in the
amount of Forty Thousand Dollars ($40,000.00). Payment will be on the following
schedule:
i. $10,000 on or before January 4, 2008
ii. $10,000 on or before January 15, 2008
iii. $10,000 on or before April 15, 2008
iv. $10,000 on or before July 15, 2008
VALLEY/ADAMS REGIONAL HOUSING CITY OF McCALL
AUTHORITY
By
E-- utive Director
By
ATTEST:
By /41A-6-21// L�2 i /4-1
City of McCll _ City Clerk
Page 1 of 2
Joanne York
From: Roger Millar
Sent: Monday, March 20, 2006 1:04 PM
To: Karen Kellie (kkellie@mccallhosp.org); Terrell Donicht; Dennis Coyle (dcoyle@idpr.state.id.us);
John Sabala; Greg Lovell; SKeafer@idl.state.id.us; 'Bill and Mara Robertson'; Bonnie A Bertram;
Don Bailey (Don.Bailey@mccall.id.us); Laura Scott (Laura.Scott@mccall.id.us); Mike Kraemer
(Michael.Kraemer@mccall.id.us); Mike Kraemer (mkraemer@mdsd.org); cjmoore@fs.fed.us
Cc: Lindley Kirkpatrick; Dick Duncan (VARHA@cox.net); Stephanie Millar (millar01 @frontiernet.net);
Ben Salmon; Mike Stewart (Ivadvocate@frontiernet.net); KMCL (mcradio@frontiernet.net);
leighann@myfamilyradio.com; Joanne York
Subject: Follow Up to Housing Workshop
Thank you for participating in the Workshop on March 14. We agreed to the following:
1. Comments on the Draft Community Housing Guidelines are to be sent to Dick Duncan at VARHA@cox.net
by March 28. The draft is on the City's web page in the Community Development Department under
Housing Policy.
2. Dick will have an application for community housing available by April 1
3. The VARHA Board will meet asap.
Please let me know if you would like additonal detail.
Roger M. Millar, PE, AICP
Community Development Director
Deputy City Manager
City of McCall
216 East Park Street
McCall, Idaho 83638
phone: (208) 634-3458
fax: (208) 634-3038
email: rmillar(c�mccall.id.us
web: www.mccall.id.us
Val Aoi.v . S
y
°Via)
From: Roger Millar
Sent: Friday, March 03, 2006 5:35 PM
To: Karen Kellie (kkellie@mccallhosp.org); 'Terrell Donicht'; Dennis Coyle (dcoyle@idpr.state.id.us); John Sabala;
'Greg Lovell'; 'SKeafer@idl.state.id.us'; 'Bill and Mara Robertson'; Bonnie Bertram
(bonnniegeorgebertram@yahoo.com); Don Bailey (Don.Bailey@mccalLid.us); Laura Scott
(Laura.Scott@mccall.id.us); Mike Kraemer (Michael.Kraemer@mccalLid.us); Mike Kraemer (mkraemer@mdsd.org)
Cc: Lindley Kirkpatrick; Dick Duncan (rdd9348@aol.com); Dick Duncan (rdd9348@cox-internet.com); Stephanie
Millar (millar01@frontiernet.net); Ben Salmon; Mike Stewart (Ivadvocate@frontiernet.net); KMCL
(mcradio@frontiernet.net); leighann@myfamilyradio.com; Joanne York
Subject: Housing Workshop
Mayor Robertson, Members of Council and Invited Guests:
We have scheduled a City Council housing workshop for March 14 at 4:00 pm in Legion Hall. At the request of the
City Council we have invited other large employers within the City of McCall.
3/21 /2006
Dec 13 07 01:21p Galena Eng Ketchum 2087264783 p • 1
LETTER REQUESTING PAYMENT FOR SERVICES
As per the Contract for Services between Valley Adams Regional Housing Authority
and the City of McCall dated , 20 and the City of McCall Council's
approval to provide operational support to Valley Adams Regional Housing Authority
(VARHA) for fiscal year 2007-2008 in the amount of Forty Thousand Dollars
($40,000.00), VARHA requests the initial payment in the amount of Ten Thousand
Dollars ($10,000.00).
Payment of $10,000.00 should be made payable to Valley Adams Regional Housing
Authority. Check can be mailed to:
VARHA
PO Box 843
McCall, ID 83638
Thank you in advance for your attention to this matter.
Sincerely,
›/'
Michael David
Executive Director
VARHA
NOTICE OF ASSIGNMENT OF CLAIMS UNDER GOV'T CONTRACT
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References in the boxes above are for Lender's use only and do not limit the applicability of this document to any particular loan or item.
Any item above containing "* * *" has been omitted due to text length limitations.
Borrower:
VALLEY ADAMS REGIONAL HOUSING
AUTHORITY
PO BOX 843
MCCALL, ID 83638
Lender: Idaho First Bank
MCCALL BRANCH
475 E DEINHARD LN
MCCALL, ID 83638
(208) 634-1000
TO:
CITY OF MCCALL LINDLEY KIRKPATRICK
216 E PARK ST
MCCALL, ID 83638
DATE: October 1, 2008
CONTRACT NUMBER: N/A -
DEPARTMENT: CITY OF MCCALL
RE: WITH: VALLEY ADAMS REGIONAL HOUSING AUTHORITY (CONTRACTOR) whose address is: PO BOX 843, MCCALL, ID
83638
FOR: Government Contract for 2008-2009 VARHA Services @ $30,000
DATED:
PLEASE TAKE NOTICE that (1) Moneys due or to become due under the contract described above have been assigned to Idaho First Bank
(referred to as the "Assignee" in this Notice of Assignment) pursuant to the provisions of the Assignment of Claims Act of 1940 as amended,
31 U.S.C. 3727, 41 U.S.C. 15. (2) A true copy of the Instrument of Assignment is attached hereto. (3) Payments due or to become due under
such contract should be made to the Assignee, at MCCALIcBRANCH, 475 E DEINHARD LN, MCCALL, ID 83638. (4) Please return to the
Assignee, at Assignee's office and address indicated below, the three (3) enclosed copies of this Notice of Assignment with appropriate
notations showing the date and hour of receipt, and duly signed by the person acknowledging receipt on behalf of the addressee.
Receipt is hereby
jacknowledged of the above
received at2, by�,0 (a.m./ rr on {Q �2,, fib
Idaho First Bank
By:
(Signature)
(Name and title of signing officer)
)7/1"&z...e." (0f
RECEIPT OF NOTICE OF ASSIGNMENT
RETURN TO:
otic1of Assignment and a copy of the above mentioned Instrument of Assignment. These were
(Date)
Idaho First Bank
MCCALL BRANCH
475 E DEINHARD LN
MCCALL, ID 83638
On behalf of
ame and ti a of addresse of Notice)
THIS COPY
TO BE RETURNED TO LENDER
LASER PRO Landng, Ver. 5 91 00 004 Cod. Harland Rotondo! Soltdons, Inc 1992, 2008.
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References in the boxes above are for Lender's use only and do not limit the applicability of this document to any particular loan or item.
Any item above containing "***" has been omitted due to text length limitations.
Borrower: VALLEY ADAMS REGIONAL HOUSING
AUTHORITY
PO BOX 843
MCCALL, ID 83638
Lender: Idaho First Bank
MCCALL BRANCH
475 E DEINHARD LN
MCCALL, ID 83638
(208) 634-1000
Principal Amount: $18,000.00 Date of Note: October 1, 2008
PROMISE TO PAY. VALLEY ADAMS REGIONAL HOUSING AUTHORITY ("Borrower") promises to pay to Idaho First Bank ("Lender"), or order,
in lawful money of the United States of America, the principal amount of Eighteen Thousand & 00/100 Dollars ($18,000.00), together with
interest on the unpaid principal balance from October 1, 2008, until paid in full.
PAYMENT. Borrower will pay this loan in one principal payment of $18,000.00 plus interest on November 5, 2008. This payment due on
November 5, 2008, will be for all principal and all accrued interest not yet paid. Unless otherwise agreed or required by applicable law,
payments will be applied first to any unpaid collection costs; then to any late charges; then to any accrued unpaid interest; and then to principal.
Borrower will pay Lender at Lender's address shown above or at such other place as Lender may designate in writing.
VARIABLE INTEREST RATE. The interest rate on this Note is subject to change from time to time based on changes in an independent index
which is the Wall Street Journal Prime Rate as Published in the Wall Street Journal (the "Index"). The Index is not necessarily the lowest rate
charged by Lender on its loans. If the Index becomes unavailable during the term of this loan, Lender may designate a substitute index after
notifying Borrower. Lender will tell Borrower the current Index rate upon Borrower's request. The interest rate change will not occur more
often than each daily. Borrower understands that Lender may make loans based on other rates as well. The Index currently is 5.000% per
annum. The interest rate to be applied to the unpaid principal balance of this Note will be calculated as described in the "INTEREST
CALCULATION METHOD" paragraph using a rate of 3.000 percentage points over the Index, resulting in an initial rate of 8.000% per annum
based on a year of 360 days. NOTICE: Under no circumstances will the interest rate on this Note be more than the maximum rate allowed by
applicable law. Unless waived by Lender, any increase in the interest rate will increase the amount due at maturity.
INTEREST CALCULATION METHOD. Interest on this Note is computed on a 365/360 basis; that is, by applying the ratio of the interest rate
over a year of 360 days, multiplied by the outstanding principal balance, multiplied by the actual number of days the principal balance is
outstanding. All interest payable under this Note is computed using this method.
PREPAYMENT. Borrower agrees that all loan fees and other prepaid finance charges are earned fully as of the date of the loan and will not be
subject to refund upon early payment (whether voluntary or as a result of default), except as otherwise required by law. Except for the
foregoing, Borrower may pay without penalty all or a portion of the amount owed earlier than it is due. Early payments will not, unless agreed
to by Lender in writing, relieve Borrower of Borrower's obligation to continue to make payments under the payment schedule. Rather, early
payments will reduce the principal balance due. Borrower agrees not to send Lender payments marked "paid in full", "without recourse", or
similar language. If Borrower sends such a payment, Lender may accept it without losing any of Lender's rights under this Note, and Borrower
will remain obligated to pay any further amount owed to Lender. All written communications concerning disputed amounts, including any check
or other payment instrument that indicates that the payment constitutes "payment in full" of the amount owed or that is tendered with other
conditions or limitations or as full satisfaction of a disputed amount must be mailed or delivered to: Idaho First Bank, P.O. Box 2950 McCall, ID
83638.
LATE CHARGE. If a payment is 10 days or more late, Borrower will be charged 5.000% of the regularly scheduled payment.
INTEREST AFTER DEFAULT. Upon default, including failure to pay upon final maturity, the total sum due under this Note will continue to accrue
interest at the interest rate under this Note. However, in no event will the interest rate exceed the maximum interest rate limitations under
applicable law.
DEFAULT. Each of the following shall constitute an event of default ("Event of Default") under this Note:
Payment Default. Borrower fails to make any payment when due under this Note.
Other Defaults. Borrower fails to comply with or to perform any other term, obligation, covenant or condition contained in this Note or in
any of the related documents or to comply with or to perform any term, obligation, covenant or condition contained in any other agreement
between Lender and Borrower.
False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or on Borrower's behalf under this
Note or the related documents is false or misleading in any material respect, either now or at the time made or furnished or becomes false
or misleading at any time thereafter.
Death or Insolvency. The death of Borrower or the dissolution or termination of Borrower's existence as a going business, the insolvency
of Borrower, the appointment of a receiver for any part of Borrower's property, any assignment for the benefit of creditors, any type of
creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower.
Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help,
repossession or any other method, by any creditor of Borrower or by any governmental agency against any collateral securing the loan.
This includes a garnishment of any of Borrower's accounts, including deposit accounts, with Lender. However, this Event of Default shall
not apply if there is a good faith dispute by Borrower as to the validity or reasonableness of the claim which is the basis of the creditor or
forfeiture proceeding and if Borrower gives Lender written notice of the creditor or forfeiture proceeding and deposits with Lender monies or
a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its sole discretion, as being an adequate
reserve or bond for the dispute.
Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety, or accommodation party
of any of the indebtedness or any guarantor, endorser, surety, or accommodation party dies or becomes incompetent, or revokes or
disputes the validity of, or liability under, any guaranty of the indebtedness evidenced by this Note.
Adverse Change. A material adverse change occurs in Borrower's financial condition, or Lender believes the prospect of payment or
performance of this Note is impaired.
LENDER'S RIGHTS. Upon default, Lender may declare the entire unpaid principal balance under this Note and all accrued unpaid interest
immediately due, and then Borrower will pay that amount.
PROMISSORY NOTE
Loan No: 13250 (Continued) Page 2
ATTORNEYS' FEES; EXPENSES. Lender may hire or pay someone else to help collect this Note if Borrower does not pay. Borrower will pay
Lender that amount. This includes, subject to any limits under applicable law, Lender's reasonable attorneys' fees and legal expenses, whether
or not there is a lawsuit, including without limitation all reasonable attorneys' fees and legal expenses for bankruptcy proceedings (including
efforts to modify or vacate any automatic stay or injunction), and appeals. If not prohibited by applicable law, Borrower also will pay any court
costs, in addition to all other sums provided by law.
GOVERNING LAW. This Note will be governed by federal law applicable to Lender and, to the extent not preempted by federal law, the laws of
the State of Idaho without regard to its conflicts of law provisions. This Note has been accepted by Lender in the State of Idaho.
CHOICE OF VENUE. If there is a lawsuit, Borrower agrees upon Lender's request to submit to the jurisdiction of the courts of VALLEY County,
State of Idaho.
RIGHT OF SETOFF. To the extent permitted by applicable law, Lender reserves a right of setoff in all Borrower's accounts with Lender (whether
checking, savings, or some other account). This includes all accounts Borrower holds jointly with someone else and all accounts Borrower may
open in the future. However, this does not include any IRA or Keogh accounts, or any trust accounts for which setoff would be prohibited by
law. Borrower authorizes Lender, to the extent permitted by applicable law, to charge or setoff all sums owing on the indebtedness against any
and all such accounts.
SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower's heirs, personal representatives,
successors and assigns, and shall inure to the benefit of Lender and its successors and assigns.
GENERAL PROVISIONS. If any part of this Note cannot be enforced, this fact will not affect the rest of the Note. Lender may delay or forgo
enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses
this Note, to the extent allowed by law, waive presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this
Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or
endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly and for any length of time) this
loan or release any party or guarantor or collateral; or impair, fail to realize upon or perfect Lender's security interest in the collateral; and take
any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender may modify
this loan without the consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note
are joint and several.
PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE
INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE.
BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE.
BORROWER:
VALLEY ADAMS REGIONAL H! SINGv THORITY
By:
IC. AEL DAVID, E ewe rector of
AD MS REGIONAL OUSING AUTHORITY
LASER PRO Lancing, vn 5 41.00 004 Copr. NnImE FnAncyl Solunonc. Inc 1997, 2006. An Rgnv R6cernE - ID L\CFRLPL1020.FC TR-571 PR-36
ASSIGNMENT OF CLAIMS UNDER GOVERNMENT CONTRACT
- Principal ; :,
Loan Data
10-01 z0v3
Maturity
Loan No
13250
Call / con
96 i 415
Account
1/0000280
Officer
JLNI ' :_
initials
References in the boxes above are for Lender's use only and do not limit the applicability of this document to any particular loan or item.
Any item above containing "' • "" has been omitted due to text length limitations.
Assignor:
VALLEY ADAMS REGIONAL HOUSING
AUTHORITY
PO BOX 843
MCCALL, ID 83638
Lender: Idaho First Bank
MCCALL BRANCH
475 E DEINHARD LN
MCCALL, ID 83638
(208)634-1000
FOR VALUABLE CONSIDERATION, the receipt of which is hereby acknowledged, the undersigned, VALLEY ADAMS REGIONAL HOUSING
AUTHORITY (hereinafter referred to as "Assignor") hereby assigns, transfers and sets over unto Idaho First Bank and its successors and assigns
(herein referred to as "Lender" or "Assignee"), at MCCALL BRANCH, 475 E DEINHARD LN, MCCALL, ID 83638, all moneys due and to become
due under Contract No. N/A for Government Contract for 2008-2009 VARNA Services @ S75,000 executed by Assignor and the United States
of America, VALLEY COUNTY, under date of , and any revisions, modifications, amendments, options, claims and extensions thereto
(hereinafter referred to as the "Contract"). This Assignment is made pursuant to the Assignment of Claims Act of 1940, as amended (31 USC
Section 3727 and 41 USC Section 15).
ASSIGNOR HEREBY AUTHORIZES AND DIRECTS the United States of America, VALLEY COUNTY, its departments, agencies, offices, agents
and officers to make all payments due or that may be hereafter due or owing under the Contract to the Assignee by checks or other orders,
payable to the order of the Assignee. Assignor hereby constitutes and appoints Assignee its true and lawful attorney, irrevocably, with full
power of substitution for it and in its name or in the name of the Assignor or otherwise, to ask, require, demand and receive and give
acquittance for any and all said monies due or to become due, and to endorse the name of the Assignor to any checks, drafts or other orders for
the payment of money payable to the Assignor.
ASSIGNOR HEREBY WARRANTS that it is the lawful owner of all rights under the Contract and any and all amendments thereof and
supplements thereto; that it has good right to assign the same; that its rights are free and clear of all liens and encumbrances; and that it will
warrant and defend the same against the lawful claims and demands of all persons. Assignor agrees (a) that, if any payments under the
Contract shall be made to Assignor, it will receive and hold the same in trust for Assignee and will forthwith upon receipt deliver the same to
Assignee in the identical form of payment received by Assignor; and lb) that it will execute and deliver all such further instruments and do all
such further acts and things as Assignee may reasonably request or as shall be necessary or desirable to further and more perfectly assure to
Assignee its rights under the Contract.
ASSIGNEE SHALL NOT HAVE OR BE UNDER any duty whatsoever to perform or carry out any of the obligations undertaken by Assignor under
the Contract.
ASSIGNEE HAS NOTICE OF THE REQUIREMENT for the performance and payment bonds under the Contract and, further, has notice as to the
possibility of an equitable interest in the above -referenced proceeds in favor of the surety to the Contract, should Assignor default under the
Contract.
IN WITNESS WHEREOF, ASSIGNOR HAS EXECUTED THIS ASSIGNMENT IN DUPLICATE THIS 1st Day of October, 2008.
ASSIGNOR:
VALLEY ADAMS REGION L OUSI AUTHORITY
X
D, E
REGIONAL H
rector of V
USING AUTHORITY
STATE OF
COUNTY OF
On this
1
Uwn�
day of
Director of VALLEY ADAMS REGIONAL
My commission expires
GOVERNMENT ACKNOWLEDGMENT
1
► SS
1
JESSICA L. RUSSELL
NOTARY PUBLIC
STATE OF IDAHO
, in the year 20 , before me
, a notary public in and for the State of Idaho, personally appeared MICHAEL DAVID, Executive
HOUSING AUTHORITY, known or identified to me (or proved to me on the oath of
1, to be of VALLEY ADAMS REGIONAL HOUSING AUTHORITY, the government that executed the
the instrument on behalf of said government, and acknowledged to me that such government executed
Residing at
hil / Cu-e
1 �}
LASER PRO Lending, Per 5 41.00.004 Cogr Harland Fmenuel Solutions, Inc 1997, 2008 All Rights Reserved ID LACFI1LPL\E81 FC TR-571 PR-34