ContractDevelopment Agreement • April 28th, 2022 • East Bay Permanent Real Estate Cooperative • Real estate
Development Agreement #4 Between EB PREC and the Law Center This Agreement will replace and include any unpaid amounts from Development Agreements #2 and #3 between the Law Center and East Bay Permanent Real Estate Coopera_ve (EB PREC). Sustainable Economies Law Center agrees to pay EB PREC $894,500.00 by May 6, 2022. The Law Center also agrees to receive and hold addi_onal funds as a fiscal sponsor for EB PREC, which EB PREC may periodically invoice the Law Center for if and when such funds are reasonably necessary for the con_nua_on of the below-described work. At the _me of this Agreement, the Law Center is holding an addi_onal $3,307,246.84 for the purposes of developing EB PREC. EB PREC agrees to use all funds received to do the following work, which advances the charitable and educa_onal purposes of the Law Center: ● Pilot and share learnings about the innova_ve 7th Street coopera_ve economic development project. This may include: acquisi_on, predevelopment, development, and mana
ContractLoan Agreement • April 28th, 2022 • East Bay Permanent Real Estate Cooperative • Real estate
FINAL FOR SIGNATURE – 9/28/2021 Loan Agreement ImpactAssets, Inc./East Bay Permanent Real Estate Cooperative Page 1 of 12 LOAN AGREEMENT THIS LOAN AGREEMENT (“Loan Agreement”) is made and entered into this 29th Day of September 2021 (the “Effective Date”) by and between ImpactAssets Inc., whose business office is located at 4340 East West Highway, Suite 210 Bethesda, MD 20814 (hereinafter LENDER), and Orbit Properties LLC whose business office is located at 1428 Franklin Street, Oakland, CA 94612 (hereinafter BORROWER). THE FOLLOWING TERMS are defined and hereinafter referred to as follows: LENDER: ImpactAssets Inc., a Maryland not-for-profit corporation and a 501(c)(3) nonprofit organization. BORROWER: Orbit Properties LLC, a California limited liability company PARENT: East Bay Permanent Real Estate Cooperative, a California Cooperative Corporation WITNESSETH: WHEREAS, BORROWER desires to borrow money from financial sources to facilitate BORROWER’S purchase and redevelopment of certa
