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<br /> <br />LOAN SERVICING AGREEMENT <br /> <br />This LOAN SERVICING AGREEMENT (“Agreement”) is made by and between CENTER FOR <br />ENERGY AND ENVIRONMENT, with offices at 212 Third Avenue North, Suite 560, Minneapolis, <br />Minnesota 55401 (“CEE”) and the MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY, <br />in and for the City of Mounds View, with offices at 2401 Mounds View Boulevard, Mounds View, MN <br />55112 (“Client”). <br />RECITALS <br /> In consideration of their mutual undertakings and payments provided for herein, the parties recite, <br />covenant, and agree to the following: <br />A. CEE is a non-profit corporation engaged in the servicing of development loans; and <br />represents that it is qualified and authorized to perform the services described herein; and <br /> <br />B. Client originates, purchases, owns, and/or manages loans that benefit economically distressed <br />or declining areas, disadvantaged persons, neighborhoods or community revitalization, foster <br />job creation, or other section 501(c)(3) charitable purposes; and <br /> <br />C. CEE is authorized by Client to function as a servicing agent under the terms of this <br />Agreement; and <br /> <br />D. Client now desires to have CEE perform the duties set forth herein for the loans covered by <br />this Loan Servicing Agreement. <br /> <br />NOW, THEREFORE, CEE and Client agree as follows: <br />1. Duties of CEE <br />CEE shall, at all times and with respect to all loans identified by Client (the “Client Loans”) <br />which it has been engaged by the Client to service, employ its normal and regular servicing <br />activities in the servicing of Client Loans to perform those responsibilities specifically set forth <br />on Exhibit A (the “Services”). The parties acknowledge that, from time to time, the Services may <br />be modified at the request of the Client and agreement by CEE. Such changes shall be mutually <br />agreed upon and are not effective unless agreed to in writing by the execution of a revised <br />Exhibit-A. <br /> <br />2. Effective Date <br />CEE shall commence servicing activities under this Agreement effective on the following date: <br />January 1, 2020 (“Effective Date”) and shall continue until terminated as provided in Section 16 <br />of this Agreement. <br /> <br />1 <br />Mounds View Loan Servicing Contract #3084 <br />621273v5MU205-13 <br /> <br />