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DocuSign Envelope ID:72960356-48E2-452B-BE39-59E05989095A <br /> r <br /> LOAN ORIGINATION AGREEMENT <br /> This LOAN ORIGINATION AGREEMENT ("Agreement") is made by and between the ECONOMIC <br /> DEVELOPMENT AUTHORITY in and for the City of Mounds View, with offices at 2401 Mounds View Blvd, <br /> Mounds View, MN 55112 ("Authority"), and CENTER FOR ENERGY AND ENVIRONMENT, with offices at <br /> 212 31'Avenue North,Suite 560, Minneapolis,Minnesota 55401("CEE"). <br /> RECITALS <br /> A. The Authority has a need for certain professional services and desires to retain'CEE to <br /> provide said services,all subject to the terms and conditions contained in this Agreement. <br /> B. CEE is qualified to provide the desired professional services and deslres to provide said <br /> services for the Authority, all subject to the terms and conditions contained in this <br /> Agreement. <br /> NOW, THEREFORE, in consideration of the foregoing and the mutual promises contained in -this <br /> Agreement,the parties agree as follows: <br /> 1. Services/Scopei of Work <br /> 1.10EE shall,as directed by the Authority,develop and deliver the City of Mounds View Loan <br /> Programs(hereinafter the"Program")which are more fully described In Exhhibit A, attached hereto. <br /> All activities delivered under the Program shall be coordinated with the Authority's designated. <br /> representative,who shall be the Finance Director, Mark Beer,or the Business Development <br /> Coordinator, Brian Beeman. <br /> The exclusive source of funding for the Program is the Authority, <br /> 2. Compensation <br /> 2.1 The Authority shall compensate GEE for services provided under this Agreement <br /> according to the following schedule and as is more fully described in Exhibit B attached hereto: <br /> Loan Set-Up Fee $1,500.00 <br /> The Authority shall pay CEE a one time loan set-up Fee. This shall compensate CEE for time and <br /> labor to create the loan program. <br /> Loan Origination Fee $550,00 <br /> The Authority shall pay CEE an Origination Fee for each loan closed using the Program. The <br /> Origination Fee shall compensate CEE for assisting borrowers with loan applications, <br /> preparation of loan documents, loan closings, ,and other direct costs of processing loans <br /> pursuant to the Program. Mortgage flling fees,credit reports,flood insurance,title work, and a <br /> CONTRACT between ECONOMIC DEVELOPMENT AUTHORITY In and for the CITY OF MOUNDS VIEW and CENTER'FOR ENERGY <br /> AND ENVIRONMENT #2606 Page 1 <br /> 5I1563v2 AMB MU205-48 <br />