10 - Property Assessed Clean Energy Program

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• Inform the property owner of his or her responsibilities in the process, including hiring a third -party reviewer, obtaining a lender, determining final project scope and completing and submitting a closing verification package. • Conduct a Pre -Closing Verification, which will confirm the statutorily required eligibility requirements of the owner including that the property owner: o Is the legal property owner of the benefited property; o Is current on mortgage and tax payments; o Is not insolvent or the subject of bankruptcy proceedings; o Holds a title to the property to be subject to a PACE assessment that is not in dispute; and o Has consent of any pre-existing mortgagee to the proposed PACE assessment through a written contract. Require independent third -party verification of expected energy or water savings resulting from a project (provided by engineer or consultant retained by applicant), according to the PACE -in -a -Box Technical Standards Manual. This review will include a: • Site visit, Report stating the savings (energy, demand, and/or water) and expected project life are reasonable and in compliance with PACE in a Box program guidelines; and • Letter from the ITPR certifying that he/she has no financial interest in the project and is an independent reviewer. Require independent third -party verification, according to the PACE -in -a -Box Technical Services Manual, that the period of an assessment does not exceed the expected life of the improvements or thoroughly review waiver application and justification (provided by engineer or consultant retained by applicant); Require lender to confirm in writing its determination, based on underwriting factors established by the lender, that the owner has demonstrated the financial ability to repay the financial obligations to be repaid through assessment. Require the owner to notify the holder of any mortgage lien on the property of the owner's intention to participate in the Program and obtain the lienholder's written consent prior to the imposition of the PACE assessment; Review and finalize the terms of every Owner Contract and Lender Contract prior to execution; The Contract must contain: • Amount of the assessment; • The legal description of the property; • The name of the property owner; and • A reference to the statutory assessment lien provided under the PACE Act. Collect and retain owner application fees as compensation for administrative services; PROFESSIONAL SERVICES AGREEMENT PAGE 8