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Ineligible Improvements: Work initiated prior to the loan being approved and closed. Personal <br /> property items, including appliances, furniture, hot tubs, swimming pools, and other luxury items, <br /> exterior plumbing (e.g. sprinkler systems), non-permanent landscaping fixtures (e.g. potted plants, <br /> furniture, bird feeders), repairs to property used for business or trade purposes, refinancing existing <br /> indebtedness, and labor costs of borrowers and/or residents. CEE will refer to the City whenever <br /> eligibility of an improvement project is questionable. <br /> Bidding: Except when labor is provided by the borrower,the borrower must provide a minimum of 1 <br /> bid for each improvement project under$5,000 and 2 bids for each project more than $5,000.All <br /> contractors must be properly licensed. Permits must be obtained when required by City ordinance. <br /> Sweat Equity: Not permitted <br /> Property Inspection: Required. Eligible improvements will be determined through an analysis of the <br /> emergency condition of the property. A CEE staff member will perform the analysis to determine the <br /> severity of the situation. <br /> Post Installation Inspection: Properties are subject to a post installation inspection by a CEE staff <br /> member when a permit is not required. Where a permit is required,the work must be signed-off by a <br /> City inspector prior to release of funds. <br /> Work Completion: All work must be completed within 30 days of loan closing. Extensions may be <br /> granted by CEE. <br /> Borrower Fees: Borrower will be responsible for mortgage filing and service fees, flood certificate and <br /> credit report fees all of which may be financed in the loan amount. <br /> Underwriting Decision: CEE will review the application and submitted documentation for consideration <br /> for other home improvement programs prior to considering the application for the Emergency Repair <br /> Loan Program. CEE will approve or deny loans based on income verification and other criteria.This is a <br /> last resort program.The borrower must not be eligible for any other financing administered by CEE in <br /> order to obtain an Emergency Repair Deferred loan. CEE's decision shall be final. <br /> Loan Security: All loans will be secured with a mortgage(lien for mobile homes) in favor of the City of <br /> Mounds View EDA. <br /> Exhibit A4 Page 11 <br /> Agreement between the City of Mounds View and Center for Energy and Environment <br />