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ii. The necessity of the work to be performed for the preservation or <br />rehabilitation of the structure and how the proposed work fits into the <br />overall preservation plan for the structure; <br />iii. The availability of other funding sources. <br />... [Section 2 d. to stay the same]. <br />e. As provided by Section 3. b. ii of City Council Resolution No. 20, Series 2009: <br />i. All loan payments shall return to the Historic Preservation Fund. <br />ii. A loan agreement is required for all loans, with a guarantee by the borrower <br />and individual guarantees as the City in its discretion may require. <br />iii. The loan agreement may include a provision for default and acceleration if the <br />completed work is not as contemplated by the conditions of the loan. <br />iv. The loan agreement may further provide that if the work is not completed in <br />compliance with the conditions of the loan, the loan amount shall be due <br />forthwith, with interest. <br />v. Payment under the loan agreement shall additionally be secured by a <br />promissory note and deed of trust or similar instruments acceptable to the City <br />establishing a lien against the subject property. <br />vi. Costs of collecting any loan shall be charged to the Historic Preservation Fund. <br />...[Section 2 f. — i. to stay the same]. <br />j. Loan funds may be awarded only for projects to be completed on landmarked <br />portions of a property or for projects for which a conservation easement will be <br />granted over the site or structure (or portion thereof) of historical significance. <br />[Remainder of Section 2 to stay the same]. <br />PASSED AND ADOPTED this 30- day of <br />)4,,,,i- Robert P. Muc e, M yor <br />Carol Hanson, Acting City Clerk <br />, 2016. <br />Resolution No. 21, Series 2016 <br />Page 2 of 2 <br />