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2. Revolving Loan Fund <br /> The City of Mounds View,would set aside a specific amount of money in'a fund that <br /> Western Bank would lend according to your parameters. Western would originate and <br /> administer loans, collect and place payments in a separate account and provide monthly <br /> reporting. Western and the City of Mounds View would agree to typical collection efforts <br /> that Western would provide as it relates to delinquent loans. <br /> 3. Matching Loan Fund <br /> Both the City of Mounds View and Western Bank would set aside an amount of money to <br /> lend according to agreed upon parameters. This arrangement could be full recourse or <br /> non-recourse depending on how it is set up. Two loans would be made to the customer. <br /> Mounds View's pardon would be at a low rate and Western's portion would be closer to <br /> market rate for a melded rate of between 5 and 6%. <br /> 4. Originate Only <br /> Another option would be for Western Bank to originate the loan for a fee using City of <br /> Mounds View funds and assign it to a loan servicer. <br /> As we thought through these options, we realized there are so many ways your program can be <br /> designed. Each of the four options above can be restructured in many different ways. As you <br /> have a chance to think about your requirements and goals for this program, we cart begin to get <br /> more specific about the details. <br /> Thank you for the opportunity to work with the City of Mounds View. We look forward to your <br /> • progress in this program. If you have any questions, please don't hesitate to call me. <br /> Please don't hesitate to call me at 290-8105 or Jeanne Kassim at 290-7870 if we can be of any <br /> assistance. <br /> Sincerely, <br /> Vicki Grant <br /> Vice President <br /> • <br /> • <br /> • <br /> • <br /> • <br /> •• <br />