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LOAN ORIGINATION AGREEMENT <br />This LOAN ORIGINATION AGREEMENT ("Agreement") is made by and between the ECONOMIC <br />DEVELOPMENT AUTHORITY in and for the City of Mounds View, with offices at 2401 Mounds View Blvd, <br />Mounds View, MN 55112 ("Authority"), and CENTER FOR ENERGY AND ENVIRONMENT, with offices at <br />212 3`a Avenue North, Suite 560, Minneapolis, Minnesota 55401 ("CEE"). <br />RECITALS <br />A. The Authority has a need for certain professional services and desires to retain -CEE to <br />provide said services, all subject to the terms and conditions contained in this Agreement. <br />B, . CEE is qualified to provide the desired professional services and desires to provide said <br />services for the Authority, all subject to the terms and conditions contained in this <br />Agreement. <br />NOW, THEREFORE, In consideration of the foregoing and the mutual promises contained in this <br />Agreement, the parties agree as follows: <br />1. Services/Scope of Work <br />1.10EE shall, as directed by the Authority, develop and deliver the City of Mounds View Loan <br />Programs (hereinafter the "Program") which are more fully described in Exhibit A, attached hereto. <br />All activities delivered under the Program shall be coordinated with the Authority's designated• <br />representative, who shall be the Finance Director, Mark Beer, or the Business Development <br />Coordinator, Brian Beeman. <br />The exclusive source of funding for the Program Is the Authority. <br />2. Compensation <br />2.1 The Authority shall compensate CEE for services provided under thin Agreement <br />according to the following schedule and as Is more fully described in Exhibit B attached hereto: <br />Loan Set -Up Fee <br />$1,500.00 <br />The Authority shall pay CEE a one time loan set-up fee. This shall compensate CEE for time and <br />labor to create the loan program. <br />Loan Origination Fee <br />$550,00 <br />The Authority shall pay CEE an Origination Fee for each loan closed using the Program. The <br />Origination Fee shall compensate CEE for assisting borrowers with loan applications, <br />preparation of loan documents, loan closings, ,and other direct costs of processing loans <br />pursuant to the Program. Mortgage filing fees, Credit reports, flood insurance, title work, anda <br />CONTRACT between ECONOMIC DEVELOPMENT AUTHORITY In and for the CITY OF MOUNDS VIEW and CENTERFOR ENERGY <br />AND ENVIRONMENT #2606 - page 1 <br />51 f5610 AMB MU20548 <br />