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fb.us.3166730.04 2 <br />b. Service the loans made to City residents under the Mounds View Home <br /> Improvement Loan Program: <br /> <br />1. Direct the Community Reinvestment Fund (“CRF”) to collect such payments <br /> pursuant to a contract dated July 2, 2000 between the Consultant and CRF (the <br /> CRF Contract). <br />2. Direct CRF to take such action pursuant to the CRF Contract if there is an <br />uncured default by a borrower under a loan pursuant to an Installment Loan <br />Program. <br />3. Receive all payments made by borrower to CRF. <br />4. Disburse all payments received by Consultants directed, in writing by the <br />City, pursuant to the Mounds View Home Improvement Program. <br />5. Payment to CRF to service the loans: <br />One-time $15.00 set-up fee per installment loan <br />One-time $25.00 set-up fee per deferred loan <br />Transaction fee per installment loan $6.00 per month <br /> <br />c. Assist City residents considering rehabilitation, including property visits, meet <br />with homeowners and potential contractors, suggest alternatives for rehabilitation <br />to homeowners, educate homeowners on the construction bid process, assist <br />homeowners to evaluate bids and work completed and construction progress. <br /> <br />d. Provide housing information to City residents, including information on <br />emergency assistance, housing rehabilitation, first time homebuyers and limited <br />rental information; <br /> <br />e. Assist the City in developing programs to purchase and rehabilitate homes; <br /> <br />f. Coordinate these services out of Consultant’s Housing Resource Center, 1170 <br />Lepak Court, Shoreview, MN 55126; and <br /> <br />g. Have Consultant’s staff visit residences as determined necessary by Consultant. <br /> <br />2. Term. This Agreement shall be in full force and effect from January 1, 20167 and shall <br />continue through December 31, 20167, unless otherwise terminated as set forth below. <br /> <br />3. Compensation. <br /> <br />a. Core HRC Services: The City shall pay the Consultant Two Thousand Dollars <br />($2,000) within thirty days (30)days after Execution of this Agreement. <br /> <br />b. Mounds View Home Improvement Loan Program Administration: The City shall pay <br />the Consultant Four Eight Hundred Dollars ($4800) for each Code Enforcement closed <br />loan and Emergency closed loan. The City shall pay the Consultant Four Hundred