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<br />Exhibit A4 Page 6 <br />Agreement between the City of Mounds View and Center for Energy and Environment <br />DOCSOPEN\MU205\13\821952.v1-9/8/22 <br /> <br /> Commercial 0% Clean Water Partnership (CWP) Loan Program <br /> <br /> <br /> <br />Interest Rate: 0% <br /> <br />Amortization Type: Amortizing (Monthly Payments Required) <br /> <br />Loan Amount: Minimum of $5,000 and Maximum of $50,000. <br /> <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 /> <br />Eligible Properties: Commercial, Mixed-Use and Multi-Family (5+ units) properties located within the <br />geographical boundaries of the City of Mounds View. Associations are eligible. <br /> <br />Ineligible Properties: Dwellings with less than five (5) units, co-operatives and properties used for <br />residential only purposes. <br /> <br />Eligible Borrowers: All borrowers must be a registered business with the MN Secretary of State or legal <br />residents of the United States, as evidenced by a social security number, Including: U.S. Citizens, <br />Permanent Resident Aliens, Non-Permanent Resident Aliens. TAX IDENTIFICATION NUMBERS (ITIN) ARE <br />NOT ACCEPTABLE. The borrower(s) must own the property. <br /> <br />Ineligible Borrowers: Including but not limited to: Tenants, Foreign Nationals, illegal residents and <br />businesses not registered with the MN Secretary of State. <br /> <br />Ownership/Occupancy: Owner and non-owner occupied. <br /> <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. Exceptions may be made by the City. <br /> <br />Income Limit: There is no maximum income limit. <br /> <br />Debt - to - Income Ratio: Not applicable if the loan is in the name of a business , but the business must <br />show a positive cash flow from the most recent tax return. If the business has not filed a tax return a <br />year-to-date Profit & Loss Statement must be provided. If the business is new a budget shall be <br />provided and brought to the City for review. If the property is in the name of an individual the Debt to <br />Income requirement is 50%. <br /> <br />