VIEWS: 136 PAGES: 7 CATEGORY: Other Personal Legal Documents and Forms POSTED ON: 10/3/2011
This document creates an agreement between a Homeowner and an entity offering financing programs to the Homeowner in order to install certain energy saving home improvements. This document provides for a repayment plan of any advanced amounts as well as a notice to the Homeowner alerting the owner to important elements of participating in the program. This template form contains both standard clauses and opportunities for the use of optional terms and conditions making it fully customizable to fit the needs of the contracting parties.
This document creates an agreement between a Homeowner and an entity offering financing programs to the Homeowner in order to install certain energy saving home improvements. This document provides for a repayment plan of any advanced amounts as well as a notice to the Homeowner alerting the owner to important elements of participating in the program. This template form contains both standard clauses and opportunities for the use of optional terms and conditions making it fully customizable to fit the needs of the contracting parties. _____ Program [Instruction: Insert program name.] by _____ [Instruction: Insert name of entity providing program.] Homeowner Agreement to Participate I, _____ [Instruction: Insert Homeowner name.] own the home located at _______ [Instruction and Comment: Insert property address. In the alternative, if the program requires owner-occupancy, the foregoing phrase can be changed to read “own and reside in the home located at _____.”]. It is my understanding that pursuant to ____ [Instruction: Insert information providing authority for this program, whether pursuant to statute or otherwise. If none, delete “that pursuant to ____”], _____ [Instruction: Insert name of entity providing program.] (the “Distributor”) is authorized to enter into agreements with homeowners, whereby Distributor will provide financing to eligible homeowners to install financing eligible energy improvements. By signing this agreement, and subject to eligibility requirements and approval by Distributor, I intend to participate in the _____ [Instruction: Insert program name.] program (the “Program”) as made available by Distributor. 1. I understand that pursuant to the terms of the Program, Distributor, as part of its _____ [Instruction: Insert description of Distributor’s service.] service has developed arrangements whereby funds may be advanced to eligible homeowners to install financing eligible energy improvements. I further understand and agree that prior to disbursement of such funds, I must enter into a separate repayment agreement to repay any such advanced funds. 2. I understand that Distributor, in its sole discretion, upon review of my application and its eligibility requirements, and in the event I am approved by Distributor for participation in the Program, is willing to enter into this agreement and permit me to participate in the Program, in accordance with the terms and conditions set forth in this agreement, and the provisions contained in the _____ [Instruction: Insert name(s) of any regulations or books setting forth Homeowner’s, Distributor’s or Program’s rights, liabilities and/or obligations. If none, delete this reference.] (the “Manual”), the provisions of which are deemed incorporated herein by reference as if set forth in their entirety. 3. I understand that if my home is a mobile or manufactured home and I do not own the land on which it is located and/or fixed and/or attached, the landowner must co-sign the loan agreement or must provide loan security acceptable to Distributor prior to Distributor permitting me to participate in the Program. 4. I understand that repayment of any amount advanced shall be in equal consecutive monthly installments (covering principal amounts and interest) over a period of ___ years (___ months) [Instruction: Insert applicable terms.]. I further understand that the rate at which financing will be made available will be the interest rate effective on the date I enter into the repayment agreement [Instruction: If this rate will be variable, © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 2 please state so in this sentence.]. This rate will not exceed ___ [Instruction: Insert maximum interest rate percentage.] percent per year. 5. I understand that the total amount of financing for my home shall not exceed the amount specified in the attached table, set forth as Schedule A or the amount applied for and approved. 6. I understand that any required security must be furnished before a repayment agreement will be entered into. I further understand that I may be responsible for expenses incurred by Distributor in securing the amount advanced. The amount for these expenses may be paid in advance, without penalty, or included in the amount financed. 7. I understand that I must pay a non-refundable application fee of $___. [Instruction: Insert fee amount. If any additional amounts, including but not limited to any filing fees will be due, insert those as well, but indicate separately.] 8. I understand that the improvements must be installed according to all mandatory Program requirements [Comment: If Program requires only certain contractors be permitted to conduct the work, please include a statement to that effect here, that Homeowner understands all work must be completed by such contractors.]. It is my responsibility to ensure the contractor I hire complies with these requirements. Within ten (10) [Instruction: Ensure Program requirements do not specify other time frame for notice.] days of completion of the work, I will ensure that Distributor has been contacted to arrange for closing the loan. 9. I understand that I may be responsible for expenses incurred by Distributor in providing an inspection of the improvements or for closing the loan. The amount for these expenses may be paid in advance by me, without penalty, or included in the amount financed. 10. Distributor shall have no obligation to advance funds for any improvement(s) until the installation of that improvement(s) has been determined to meet the Program guideline standards. Upon Distributor’s request, I shall submit the bill(s) from my private contractor(s) and the Distributor will identify any eligible amounts payable pursuant to the Program. 11. I understand that this Program is part of my ____ [Instruction: Insert type of utility service.] utility service and that any repayment amounts will be included with my monthly utility bill as a separate item. I understand my obligations, including repayment for the service being provided by Distributor, will be subject to Distributor’s existing rules and regulations. I further understand that I will be responsible for paying the remaining balance in full before the end of my repayment term, upon the occurrence of certain events set out in the repayment agreement, including but not limited to the sale of my home. 12. I understand that any inspection under the Program is provided as a service to me and that there is no guarantee or warranty, express, implied or otherwise, from Distributor or any other party concerning cost, adequacy or effectiveness of any work performed or information supplied in connection with the Program. © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 3 13. I hereby authorize Distributor, its agents or representatives or my utility provider to check my credit as necessary for purposes of Program financing approval. 14. Any notice authorized or required to be sent to Distributor pursuant to this agreement shall be written and addressed as follows: ______________ [Instruction: Insert contact name, address, city, state and zip code of Distributor’s contact.]. 15. I understand, unless otherwise agreed by Distributor, that I must enter into any repayment agreement(s) within ninety (90) days of the date of this agreement, to be eligible for consideration in obtaining Program financing, and further, that Distributor’s obligations under this agreement shall expire ninety (90) days from the date of the loan approval. 16. I shall not have the right to assign any rights or interests occurring under this agreement without the written consent of Distributor, such consent which may be withheld in Distributor’s sole and absolute discretion. 17. This agreement shall be governed by and interpreted according to the laws of the Province/State/Commonwealth of _____________________________. [Instruction: Insert jurisdiction.]. In case any one or more of the provisions contained herein shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision of this agreement, but this agreement shall be construed as if such invalid, illegal or unenforceable provisions had not been contained herein. 18. This agreement and the schedules referred to herein constitute the entire agreement between the parties and supersede all prior agreements, representations, warranties, statements, promises, information, arrangements and understandings, whether oral or written, express or implied, with respect to the subject matter hereof. The parties further acknowledge and agree that, in entering into this agreement, they have not in any way relied, and will not in any way rely upon any oral or written agreements, representations, warranties, statements, promises, information, arrangements or understandings, express or implied, not specifically set forth in this agreement or in such schedules, documents or instruments. This agreement may be modified only by a further writing signed by the parties. 19. This agreement shall be binding upon and inure to the benefit of the parties and their respective heirs, administrators, executors, successors and permitted assigns. Nothing herein, express or implied, is intended to confer upon any person, other than the parties and their respective heirs, administrators, executors, successors and permitted assigns, any rights, remedies, obligations or liabilities under or by reason of this agreement. I have had the opportunity to read this agreement thoroughly, and understand it, prior to executing same. © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 4 Important Notices to Homeowners Take no Program action prior to receiving a copy of this agreement with a loan approval number and date. Choose only a member of the ____ network. Program requirements must be precisely and completely followed or your eligibility and/or participation in the Program may be limited or voided. By signing this agreement, I understand, acknowledge and agree to the requirements, statements made by me herein and agree to be bound by the terms of the Program and this agreement. _________________________ ______________ [Instruction: Insert Homeowner’s name, sign on line above.] [Instruction: Insert date.] Homeowner’s Contact Information: _________ [Instruction: Have Homeowner insert applicable address and phone number.] Account Number________________ Loan Approval Number _____________ Loan Approval Date _______________ [Comment: Distributor should ensure prior to providing this agreement to Homeowner’s that applicable state law does not require additional disclosures for this type of agreement, for example, a 3 day right of rescission.] © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 5 Schedule A © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 6
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