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Market Rate Interest Subsidy Program Page 6 Structural Additions and Alterations • carports • construction of or • foundation work improving garage space • garage construction or which will result in repair(new or improved personal use garage space garage space must not per property exceeding 800 exceed 800 sq.ft.and must sq.ft and 3 stalls be use for personal use • repairs to or construction of only) out buildings • health and safety repairs to • conversion of a recreational improvements nonresidential structure to a • remodeling residential structure • room additions • costs associated with moving a house • greenhouse Scope of Services City of Mounds View Responsibilities: 1. Develop program guidelines and supervise implementation. 2. Market the program to city homeowners. 3. Dictate change in program guidelines as funds or conditions demand or indicate necessary. 4. Periodically review scope of work appeals and loan denial appeals. 5. Review periodic status reports provided by the Western Bank. 6. Monitor and evaluate Western Bank performance and loan program guidelines. 7. City will establish a list of qualified remodeling counselors to be made available to Western Bank. 8. Facilitate an information meeting of participating remodeling counselors to provide expectations of services for the program(i.e. Loan preapproval requirement for services, etc.). 9. Verify work is completed according to contract application. 10. Provide an administrative fee of$75 per subsidized loan payable to the lender. Western Bank Responsibilities: 1. Process loan applications. Western Bank will first attempt to place a borrower in the MHFA Fix-up Fund, Community Fix-up Fund or Home Energy loan programs. 2. Verify that eligible applicants live in Mounds View and that the proposed property lies entirely within the city's boundary. 3. As part of the application process, Western Bank will provide borrowers a