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11 - Expansion of Property Assessed Clean Energy Program
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11 - Expansion of Property Assessed Clean Energy Program
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FORM PACE LENDER CONTRACT <br />THIS PROPERTY ASSESSED CLEAN ENERGY ("PACE") LENDER CONTRACT <br />including the attached exhibits ("Lender Contract") is made as of the day of <br />, , ("Effective Date") by and between the City of Paris, Texas ("Local <br />Government") and ("Lender"). <br />RECITALS <br />A. The Property Assessed Clean Energy Act ("PACE Act"), Texas Local Government <br />Code Chapter 399, authorizes the governing body of a local government to establish a program <br />and designate a region within the local government's jurisdiction within which an authorized <br />representative of the local government may enter into written contracts with the record owners of <br />privately owned commercial, industrial, and large multifamily residential (5 or more dwelling <br />units) real property to impose assessments on the property to finance the cost of permanent <br />improvements fixed to the property intended to decrease water or energy consumption or demand. <br />B. Local Government has established a program under the PACE Act pursuant to a <br />resolution dated , adopted by the City Council ("PACE Program"), and has <br />designated Texas Property Assessed Clean Energy Authority, dba Texas PACE Authority as the <br />representative of Local Government ("Authorized Representative") authorized to enter into the <br />written contracts with the owners of such property and the providers of such financing described <br />herein, and has designated the entire territory within the boundaries of the City of Paris, Texas <br />jurisdiction as a region (the "Region") within which the Authorized Representative and the record <br />owners of such real property may enter into written contracts to impose assessments to repay the <br />financing by owners of qualified improvements on the owner's property pursuant to the PACE <br />Program. <br />C. Pursuant to Application number , <br />("Property Owner"), the sole legal and record owner of the following qualified "real property," <br />as defined in Section 399.002 of the PACE Act, within the Region has/have applied to Local <br />Government to participate in the PACE Program with respect to certain real property located at <br />Texas, - (the "Property") by installing or <br />modifying on the Property certain permanent improvements which are intended to decrease water <br />or energy consumption or demand, and which are or will be fixed to the Property as "qualified <br />improvements", as defined in Section 399.002 of the PACE Act ("Qualified Improvements"). <br />The installation or modification of such Qualified Improvements on the Property will be a <br />"qualified project" as defined in Section 399.002 of the PACE Act (the "Project"). <br />D. Property Owner and Local Government have entered into a written contract as <br />required by Section 399.005 of the PACE Act, a copy of which is attached hereto as Exhibit A and <br />made a part hereof (the "Owner Contract"), in which Property Owner has requested that Local <br />v. 8 AR ONLY PACE Lender Contract <br />
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