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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. <br /> Exhibit A4 Page 4 <br /> Agreement between the City of Mounds View and Center for Energy and Environment <br />