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Farling lot redesign and repaf. <br /> torrnwater improvements. <br /> Upgrade facility to comply with American with Disabilities Act <br /> New equipment financing that would improve processes of the business. <br /> Immum quirementso <br /> M Re <br /> The p artici atirr bank would be required to service the City's portion.of the loan at no cost to <br /> p <br /> the City..Signature of a participation Agreement between the hank and the City is required(see <br /> attached). <br /> Each loan shalt only be approved after satisfactory recommendation by the participating bank <br /> and approval by the Roseville City Manager. <br /> The total loan will require the personal guarantees of all the individuals who own more than 20 <br /> percent interest in the company. The City will take a subordinate position to the participating <br /> bank. <br /> Participating bank is re wired to use all customary lending practices in determining eligibility <br /> for the loan to ensure �a re F ent of the loan. The participating bank shall provide the City with <br /> a written recommendation on the Mari amount requested prior to City approval. <br /> Loan disbursements shall be the responsibility of the bank.The bank shall make payments to <br /> the City on their F F ro ortionate share of the lean once a month. Loan prepayments are accepted <br /> without penalty. The City shall receive them proportionate share of any prepayments. <br /> All improvements must conform to current zoning,City building codes and ordinances. Any <br /> outstandin g taxes,assessments and fees must be made current prior to loan approval. <br /> The City p ortion of the loan is not assumable upon the sale of the business. <br /> A City a FF hcation must be completed. In addition,a scope of work with construction bids must be submitted prior to the issuance of the loan. The City will conduct final inspections to ensure <br /> that the work was completed as noted in the application and scope of work. <br /> 2 <br />