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miffilms <br />TOTAL 2019 PROGRAM BUDGET $117,854 <br />ELK RIVER LOAN PROGRAM BUDGET <br />Revolving Loan Program Budget Allocation (includes Origination Fees, Loan Set Up Fee and Annual <br />Administration Fee): <br />Budget Notes: <br />1. CEE shall submit monthly invoices to the City of Elk River Housing and Redevelopment Authority <br />for the loan principal and administrative fees. <br />2. Services performed by CEE will initially be funded from the Total Program Budget as stated <br />above and paid in accordance with the following schedule. <br />(a) Loan Origination Fee $550.00 per loan closed <br />(b) Annual Administration Fee $500.00 <br />(c) One Time Set Up Fee $1,500400 <br />The Annual Administration Fee shall be payable on January 15t of each year the contract is active. <br />3. Marketing <br />Marketing efforts will be supported by CEE and marketing costs are not included in the <br />administrative budget. Hourly rates are inclusive of all overhead expenses and will be charged <br />only for hours directly related to the labor of all program marketing. CEE will also be reimbursed <br />by the City of Elk River Housing and Redevelopment Authority for any non -labor, out-of-pocket <br />expenses relating to these services on a dollar -for -dollar basis. <br />Exhibit B #2917 Page 1 <br />Agreement between the City of Elk River Housing and Redevelopment Authority and Center for Energy and <br />Environment <br />