Contract Amendment
CAO Approved June 2024
AMENDMENT NO. 1 TO THE LOAN AGREEMENT
BETWEEN THE CITY OF SAN MATEO AND MIGHTY TIGER PRESCHOOL, LLC This Amendment No. 1 is made and entered into this day of , by and between the CITY OF SAN MATEO, a municipal corporation existing under the laws of the State of California ("CITY"), and MIGHTY TIGER PRESCHOOL LLC., a California Limited Liability Corporation (“Borrower”).
WHEREAS, City and Borrower wish to amend that certain Loan Agreement dated January 11, 2024, to change the collateral property securing the loan.
NOW, THEREFORE, the Parties agree as follows:
1. Recital D of the Agreement is amended to read:
Borrower owns the real property more commonly known as 400 El Camino Real #210, Belmont, California 94002, as more particularly described in Exhibit A (the “Collateral Property”), and Borrower desires to use this real property as collateral for the Loan.
2. Exhibit A of the Loan Agreement is repealed in its entirety and replaced with Exhibit A-1, attached hereto and incorporated by reference.
3. The remaining terms of the Agreement remain in full force and effect. [SIGNATURE PAGE FOLLOWS]
Contract Amendment
CAO Approved June 2024
IN WITNESS WHEREOF, this Amendment No. 1 has been executed by the Parties as of the Effective Date.
CITY:
CITY OF SAN MATEO, a California municipal
corporation
By:
Name: Alex Khojikian
Its: City Manager
BORROWER:
APPROVED AS TO FORM CHILD CARE FACILITATOR:
MIGHTY TIGER PRESCHOOL LLC,
a California Limited Liability Company
By: By:
Name: Prasanna W. Rasiah Name: Geoffrey Choy
Its: City Attorney Its: Co-owner and Administrator
A-1
660\01\2564992.4
EXHIBIT A-1
A-2
660\01\2564992.4
LEGAL DESCRIPTION OF THE COLLATERAL PROPERTY
400 El Camino Real #210, Belmont, California 94002