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LOAN AGREEMENT <br />This agreement is between the Marion County Department of <br />Solid Waste Management ("~Lender") and the Marion County Depart- <br />ment of General Services ( Borrower"). <br />RECITALS <br />On April 23, 1997, the Marion County Board of Commissioners <br />authorized a loan as provided in ORS 294.460 from Lender to <br />Borrower f the board Vauthorized the extensi n ofa the term ~of ~the <br />29, 1997, <br />loan. <br />On May 1, 1997, Lender agreed to lend Borrower not more than <br />five million dollars ($5,000,000) for the development of Court- <br />house Square; Borrower agreed to repay the loan, principal and <br />interest, on or before November 1, 1997. <br />Borrower has requested an extension for repayment of the <br />loan and continuation of the terms to which the parties previous- <br />ly agreed. <br />AGREEMENT <br />The parties hereby agree as follows: <br />Borrower shall reimburse Lender the principal loan amount <br />together with accrued interest on or before June 30, 1998. <br />Interest will n~h~e intere tncomputationu for ~theemonth of ~Mayy <br />Treasurer's mo y <br />1997 (5.324 percent per annum.) <br />J mes Sears, Director <br />arion County Department <br />of Solid Waste Management <br />l~~a~~~~ ~ > <br />Date <br />Ran all C rtis, Director <br />Marion Co nty Department <br />of General Services <br />~ ~i - ~ ~ ' ~''1 ~ <br />Date <br />