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Homeowner Agreement to Participate

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Homeowner Agreement to Participate Powered By Docstoc
					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,

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        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
				
DOCUMENT INFO
Description: 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 is also part of a package Home Ownership Package 24 Documents Included