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Multiple Loans per Property/Borrower: Multiple emergency loans on a property are allowed if the balance Is within the overall maximum loan limit. Eligible Improvements: An emergency is defined as an imminent condition that makes a house uninhabitable, dangerous to the occupants, or is capable of causing severe health problems. Repairs that will remedy such emergency repairs are eligible. Examples of eligible repairs include, but are not limited to, water lines, sewer service, fire hazards, repair to exterior steps, railings, retaining walls, water seepage into basement, structural problems, or replacement of a furnace or hot water heater. Repairs that remedy code violations and those needed to address home repairs before they significantly de -value the home and become much more serious problems, are also eligible whether or not the city has issued a code violation. Examples of eligible repairs include, but are not limited to, leakage around windows, rotting fascia, holes in siding, roof leakage, crumbling brick or concrete and deteriorated retaining walls. CEE will determine eligibility of projects. Ineligible Improvements: Work initiated prior to the loan being approved and closed. Personal property items, including appliances, furniture, hot tubs, swimming pools, and other luxury items, exterior plumbing (e.g. sprinkler systems), non -permanent landscaping fixtures (e.g. potted plants, furniture, bird feeders), repairs to property used for business or trade purposes, refinancing existing Indebtedness, and labor costs of borrowers and/or residents. CEE will refer to the VENA whenever eligibility of an improvement project is questionable. Bidding: Except when labor Is provided by the borrower, the borrower must provide a minimum of 1 bid for each improvement project under $5,000 and 2 bids for each project more than $5,000. All contractors must be properly licensed. Permits must be obtained when required by City ordinance. Sweat Equity: Not permitted Property Inspection: Required. Eligible Improvements will be determined through an analysis of the emergency condition of the property. A CEE staff member will perform the analysis to determine the severity of the situation. Post Installation Inspection: Properties are subject to a post installation inspection by a CEE staff member when a permit is not required. Where a permit is required, the work must be signed -off by a City inspector prior to release of funds. Work Completion: All work must be completed within 30 days of loan closing. Extensions maybe granted by CEE. Borrower Fees: Borrower will be responsible for mortgage filing and service fees, flood certificate and credit report fees all of which may be financed in the loan amount. Underwriting Decision: CEE will review the application and submitted documentation for consideration for other home improvement programs prior to considering the application for the Emergency Repair Loan Program. CEE will approve or deny loans based on income verification and other criteria. This is a last resort program. The borrower must not be eligible for any other financing administered by CEE in order to obtain an Emergency Repair Deferred loan. CEE's decision shall be final. Exhibit A Page 7 Agreement between the City of Mounds View and Center for Energy and Environment