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<br />Upon submission and approval of a written request for the release of loan funds, designated EDA <br />staff will, in writing, authorize the financial institution to release the requested funds. <br /> <br />All work must be inspected by the City Building Inspector to ensure conformance with code and <br />must be verified for proper completion by City staff to ensure compliance with specifications <br />prior to final payment. The final inspection cannot be scheduled until all permits taken out have <br />been signed off by field inspectors. Upon satisfactory completion, a certificate of completion <br />will be granted. <br /> <br />All work must be completed within 12 months of issuance of a building permit unless written <br />permission of an extension is granted by designated EDA staff and financial institution (for loan <br />projects). This action does not constitute an extension to any other deadlines imposed by permits <br />or other regulation. <br /> <br />All eligible improvement work performed pursuant to an approved RLGP loan or grant must <br />provide a 12-month warranty from the date of accepted completion by the loan recipient and the <br />EDA. This warranty must cover the quality of materials used and workmanship in performing <br />the work. This warranty is the responsibility of the recipient and shall meet the requirements and <br />definitions in MN State Statute, Chapter 327A. <br /> <br />6 <br /> <br />