7.1 HRSR 04-07-2014 - Laserfiche WebLink

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appropriate engineering documentation and energy studies showing the energy savings and/or energy generation capabilities of the proposed project. The Port Authority may also charge an additional administrative fee for this technical review to be discussed with the property owner before proceeding. F. Permit After receiving notice of Application approval, property owner (or contractor) must obtain a permit from the local building official. All Improvements, including those normally exempt from permit requirements, will require a permit from the Building Department. Final inspection will be required to ensure that the Improvements were completed. A valid permit is required before the Port Authority can execute an Assessment Contract and reserve PACE OF MN Financing for project. G. Assessment Contract and Reservation All property owners of record must sign the Assessment Contract and Implementation Agreement ("Assessment Contract") and have their signature(s) notarized. The Port Authority, a representative of the Host Jurisdiction, and the Lender, will execute the Assessment Contract. This will assure the property owner that the PACE OF MN Financing has been approved and that funds are reserved for the property owner's approved project. H. Assessment Lien Upon execution of the Assessment Contract, PACE OF MN records an assessment lien against the Property in the offices of the Port Authority and the Clerk of the Host Jurisdiction. The lien will be for the full amount of the assessment on the property that secures the assessment, including capitalized interest. If funds are disbursed to property owners by the first business day in September, the assessment will appear on the next tax bill. For disbursements after that date, the assessment will not appear on the tax bill until the following tax year, but interest will accrue on the outstanding amount. I. Installation of Improvements Property owner enters into a contractual arrangement directly with a contractor for Improvements unless the property owner is self-installing the Improvements. All work is subject to the appropriate permitting and inspections and all other applicable federal, state, and local laws and regulations. All work must be completed, including the final inspection, within 90 days of execution of the Assessment Contract. The property owner and the Port Authority may agree to an extension of this completion date for good cause. 4 9835459v6