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Exhibit A3 Page 4 <br />Agreement between the City of Mounds View and Center for Energy and Environment <br />DOCSOPEN\MU205\13\748240.v2-9/15/21 <br />Underwriting Decision: Applicants must have acceptable credit history. CEE will approve or deny loans <br />based on a credit report, income verification and other criteria as deemed necessary through CEE’s <br />underwriting guidelines. CEE’s decision shall be final. Appeals can be made to the City of Mounds View. <br />Work Completion: All work must be completed within 120 days of the loan closing. However, when <br />warranted, CEE may authorize exceptions on a case by case basis. <br />Residential 0% Clean Water Partnership (CWP) Loan Program <br />Interest Rate: 0% <br />Amortization Type: Amortizing (Monthly Payments Required) <br />Loan Amount: Minimum of $1,000 and Maximum of $20,000. <br />Loan term: Up to 5 years for loan amounts equal to or less than $10,000 and up to 10 years for loan <br />amounts greater than $10,000. Generally, one year per $1,000 borrowed. This will be somewhat <br />flexible depending on the size of the loan and the borrower’s ability to repay the loan. The minimum <br />term is 1 year. <br />Eligible Properties: 1-4 unit owner-occupied and non-owner occupied properties located within the <br />geographical boundaries of the City of Mounds View. Mobile Homes, Townhomes and Condominiums <br />are eligible. <br />Ineligible Properties: Dwellings with more than four units, co-operatives and properties used for <br />commercial purposes. <br />Eligible Borrowers: All borrowers must be legal residents of the United States, as evidenced by a social <br />security number, Including: U.S. Citizens, Permanent Resident Aliens, Non-Permanent Resident Aliens. <br />TAX IDENTIFICATION NUMBERS (ITIN) ARE NOT ACCEPTABLE. <br />Ineligible Borrowers: Including but not limited to: Foreign Nationals, illegal residents and properties <br />held in the name of a business. <br />Ownership/Occupancy: Owner and non-owner occupied. <br />Loan - to - Value Ratio: The ratio of all loans secured by the property, including the new loan, should <br />not exceed 110% of the property value. Half of the improvement value may be added to the initial <br />property value. There is no Loan-to-Value Ratio required for mobile homes. <br />Income Limit: There is no maximum income limit.