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Exhibit A4 Page 5 Agreement between the City of Mounds View and Center for Energy and Environment DOCSOPEN\MU205\13\821952.v1-9/8/22 Debt - to - Income Ratio: 50%. Applicant must have the ability to repay the loan. Credit Requirements: 1) All mortgage payments must be current and reflect no 30 day late payment history in the past 12 month period (without reasonable explanation) 2) All real estate taxes must be current 3) No outstanding judgements or collections 4) Bankruptcy must have been discharged for at least 18 months prior to loan closing 5) The redemption period on prior foreclosures must have occurred at least 18 months prior to the loan application date 6) Generally, no more than two 60-day late payments on credit report. Any 60 day late requires a documented explanation and reasonable reasons; medical, unemployment, divorce 7) No defaulted government loans Multiple Loans per Property: More than one loan per property is allowed, however, the outstanding balance(s) cannot exceed $20,000. Eligible Use of Funds: Loans may be used to finance projects that are eligible for the Clean Water Partnership (CWP) Program. These include, but are not limited to: lateral sewer line excavation and replacement, lining or re-lining lateral sewer lines, water softener replacement, cleaning ponds due to city assessment and installing rain-gardens. Contractors must be properly licensed and permits must be obtained when required. Ineligible Use of Funds: Payment for work initiated prior to the loan being approved and closed, unless due to emergency. Questionable improvements will be brought to the City. Bids: Only one bid is required. All contractors must be properly licensed. Sweat Equity / Homeowner Labor: Work may be performed by property owners on a “sweat equity” basis. Loan funds may be used only for the purchase of materials and not to compensate for labor. Loan funds can be used to rent tools/ equipment. Post Installation Inspection: Permits must be obtained and signed off by a City inspector where required; when not required, a post installation inspection will be performed by CEE to ensure the work has been completed before any funds will be released. Loan Security: All loans will be secured with a mortgage in favor of the City of Mounds View EDA, unless a mobile home. If the improvements are for a mobile home a lien is filed on the title. Borrower Fees: Borrower will be responsible for all applicable mortgage filing fees, title, flood certificate, credit report and any other fees associated with the loan. All fees may be financed in the loan amount. Underwriting Decision: Applicants must have acceptable credit history. CEE will approve or deny loans based on a credit report, income verification and other criteria as deemed necessary through CEE’s underwriting guidelines. Appeals can be made to the City of Mounds View. Work Completion: All work must be completed within 120 days of the loan closing. However, when warranted, CEE may authorize exceptions on a case by case basis.