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Paring lot redesign and repair. <br /> tormwater improvements. <br /> Upgrade facility to comply with American with Disabilities Act. <br /> New equipment financing that would improve processes of the business. <br /> Mjn][Mujtn Requirements: <br /> The participating bank would be required to service the City's portion of the loan at no cost to <br /> the City..Signature of a participation Agreement between the bank and the City is required(see <br /> attached). <br /> Each loan shall 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 /> bark <br /> Participating bank is required to use all customary lending practices in determining eligibility <br /> for the loan to ensure repayment of the loan. The participating bank shall provide the City with <br /> a written recommendation on the loan amount requested prior to City approval. <br /> Loam disbursements shall be the responsibility of the bank.The bank shall make payments to <br /> the City on their proportionate share of the loan once a month. Loan prepayments are accepted <br /> without penalty. The City shall receive their proportionate share of any prepayments. <br /> All improvements must conform to current zoning*City building codes and ordinances. Any <br /> outstanding taxes,assessments and fees must be made current prior to loan approval. <br /> The City portion of the loan is not assumable upon the sale of the business. <br /> A City application must be completed. In addition,a scope of work with construction bids must <br /> 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 />