Amendment 5 to Loan Origination Agreement HRA and Center for Energy and Envrironment (CEE) Amendment 5 Elk River HRA
AMENDMENT 5 to the LOAN ORIGINATION AGREEMENT
Between
HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF ELK
RIVER And
CENTER FOR ENERGY AND ENVIRONMENT
The Agreement made the 4th day of February, 2019 by and between the HOUSING AND
REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF ELK RIVER, with offices at
13065 Orono Parkway, Elk River, MN 55430, (the “Authority”), and the CENTER FOR
ENERGY AND ENVIRONMENT, with its offices at 212 3rd Avenue North, Suite 560,
Minneapolis, Minnesota 55401 (“CEE”) is hereby amended.
1.Section 2 and 5 of the Agreement are hereby revised as follows:
Section 2. Compensation of the agreement shall be amended to read:
2.1 The Authority shall compensate CEE for services provided under this agreement according
to the following schedule and more fully described in Exhibit B5 attached hereto:
Loan Origination Fee $775
The Authority shall pay CEE an Origination Fee for each loan closed using the
Authority Funded Program.
Annual Administrative Fee $5,000
This shall be due January 1st of each calendar year the contract is in effect.
Remodeling Advisor Visit (RAV)$275
Section 5. Term and Termination of the agreement shall be amended to read:
5.1 Unless earlier terminated as provided in the following paragraphs, this Agreement
shall become effective on January 1, 2026 and continue through December 31,
2026.