11 - Expansion of Property Assessed Clean Energy Program

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2. Installments. The Assessment and Contractual Interest thereon are due and payable to Lender in installments ("Installments") according to the payment schedule set forth in the Financing Documents attached hereto as Exhibit B. The Assessment includes (1) an application fee paid by Property Owner to Authorized Representative at closing of the Financing and (2) a recurring administration fee paid by Property Owner to Authorized Representative until the Assessment is released. The recurring administration fee amount will be collected by Lender and paid to Authorized Representative within thirty (30) days of receipt by Lender, unless otherwise agreed to in writing by Authorized Representative. Notwithstanding the foregoing, in the event of delinquency in the payment of any Installment, Lender will, upon notice to Authorized Representative, withhold payment of any amounts due to Authorized Representative in connection with such Installment until the Installment is paid. Any such temporary withholding will not reduce the amount of administration fees included in the Assessment. The amounts due to Authorized Representative are identified in Exhibit B hereto. As required by Section 399.009(a)(8) of the PACE Act, the period during which such Installments are payable does not exceed the useful life of the Project. 3. Assignment of Right to Receive Installments or Require Enforcement of Lien. Lender will have the right, with or without the consent of Property Owner, to assign or transfer the right to receive the Installments or require Local Government to enforce the assessment lien in the event of a default in payment, together with the corresponding obligations, provided that all of the following conditions are met: (a) The assignment or transfer is made to a qualified lender, which may be one of the following: (1) Any federally insured depository institution such as a bank, savings bank, savings and loan association and federal or state credit union; (2) Any insurance company authorized to conduct business in one or more states; (3) Any registered investment company, registered business development company, or a Small Business Administration small business investment company; (4) Any publicly traded entity; or (5) Any private entity that: (i) Has a minimum net worth of $5 million; (ii) Has at least three years' experience in business or industrial lending or commercial real estate lending (including multifamily lending), or has a lending officer that has at least three years' experience in business or industrial lending or commercial real estate lending; (iii) Can provide independent certification as to availability of funds; and v. 8 AR ONLY PACE Lender Contract