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<br />Exhibit A Page 3 <br />DOCSOPEN\MU205\13\867249.v2-4/5/23 <br />permanent landscaping, siding, roofing, windows/doors or other permanent physical exterior <br />improvements. To make equipment upgrades or purchase other capital materials that are intended to <br />sustain the business in the long-term, including but not limited to: HVAC, solar, plumbing, electrical, <br />lighting, insulation, flooring, remodeling or other permanent physical interior improvements. <br /> <br />Ineligible Use of Funds: Program loan proceeds may not be used for costs related to any City fees that <br />are required to facilitate Business Improvements, e.g., building permits, zoning application fees. <br />Additionally, Program loan proceeds may not be used to purchase commercial inventory or other <br />materials that are not intended to sustain the appearance or functionality of the business in the long- <br />term. Payment for work initiated prior to the loan being approved and closed, unless due to emergency. <br />Questionable improvements will be brought to the EDA. <br /> <br />Bids: Only one bid is required. All contractors must be properly licensed. <br /> <br />Sweat Equity Labor: Work may be performed by property owners on a “sweat equity” basis. Loan <br />funds may be used only for the purchase of materials and not to compensate for labor. Loan funds can <br />be used to rent tools/ equipment. <br /> <br />Post Installation Inspection: Permits must be obtained and signed off by a City inspector where <br />required; when not required, a post installation inspection will be performed by the City or its <br />authorized representative to ensure the work has been completed before any funds will be released. <br /> <br />Loan Security: None. <br /> <br />Borrower Fees: None. <br /> <br />Work Completion: All work must be completed within six (6) months of the loan closing. However, <br />when warranted, exceptions may be made on a case by case basis. <br /> <br /> <br /> <br />General Program Conditions <br /> <br />Application Processing: Loans will be distributed on a first come first serve basis as applicants qualify. <br />Applicants must provide a completed application package including the following in order to be <br />considered for funding. <br /> Completed and signed application form <br /> Proof of income <br /> Bids or estimates for proposed projects <br /> Other miscellaneous documents the City or the City’s authorized representative may require <br /> <br />Contractors/Permits: Contractors must be properly licensed. Permits must be obtained when required <br />by City ordinance. <br /> <br />Program Costs: Loan origination, post installation inspection and remodeling advisor visit fees will be <br />paid per the Program Budget. Loan program marketing efforts will be billed directly to the City of <br />Mounds View EDA and is a separate expense should the City of Mounds View EDA choose to commission