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Loan Origination Fee <br />$550.00 <br />The Authority shall pay CEE an Origination Fee for each loan closed using the Authority Funded <br />Program. The Origination Fee shall compensate CEE for assisting borrowers with loan <br />applications, preparation of loan documents, loan closing and other direct costs of processing <br />loans. Mortgage filing fees, credit report, flood, title work and a 1% Origination Fee shall be <br />paid by the borrower. CEE shall provide a copy of closing documents including the loan note <br />and mortgage as documentation of the loan closing. <br />Remodeling Advisor Visit Fee(RAV) <br />$225.00 <br />CEE will provide City of Mounds View homeowners with rehabilitation counseling services to <br />assist in evaluating projects, bids and how to move forward with their project. The visit fee is <br />for each site visit or trip to the property. Phone calls, emails and other forms of <br />communication are included in the fee. (OPTIONAL) <br />Post Installation Inspection Fee (PII) and Emergency Deferred Loan Inspection $100.00 <br />The Authority shall pay CEE a fee for each post installation inspection (PII) and emergency <br />deferred loan inspection completed. The PII inspection shall be performed by CEE whenever <br />the project does not require a building permit to verify the work was completed. The <br />emergency deferred loan inspection shall be required to determine project eligibility for the <br />emergency deferred loan program. <br />The Authority shall compensate CEE only for services completed. <br />Upon request, CEE will provide marketing services for the following fees: (OPTIONAL) <br />CEE Labor $65 <br />Hourly rates are inclusive of all overhead expenses and will be charged only for hours directly <br />related to marketing. CEE will be reimbursed by the Authority for any non -labor, out-of-pocket <br />expenses, relating to these services on a dollar -for -dollar basis with no mark-up. <br />2.2 CEE shall invoice the Authority not more than two times each month for the principal of <br />loans and administrative fees. The Authority shall pay CEE within 20 days of receipt of the <br />invoice. <br />3. CLIENT's Obligations <br />3.1 If requested by CEE, the Authority shall make reasonable efforts to respond promptly <br />to requests from CEE for information and approvals regarding the services to be <br />provided under this Agreement. <br />CONTRACT between ECONOMIC DEVELOPMENT AUTHORITY in and for the CITY OF MOUNDS VIEW and CENTER FOR ENERGY <br />AND ENVIRONMENT Page 2 <br />