HomeMy WebLinkAboutLoan Application
Solar and Energy Loan Fund (SELF) of St. Lucie County
Loan Application
Please note that Florida Statutes require that a property owner notify all mortgage holders/loan
servicers at least 30 days in advance of their intent to enter into a financing agreement secured by
the property. The notice must include the maximum principal amount and the maximum annual
assessment. A verified copy or other proof of this notice must be provided to SELF on behalf of
St. Lucie County.
APPLICATION INSTRUCTIONS
Please complete and sign the attached Application form and include all requested attachments.
Please type or print neatly in blue or black ink.
All applications are processed on a first-come, first-served basis, upon receipt, until funds are
depleted. Incomplete or incorrect applications cannot be processed. Resubmitted applications
are processed on a first-come, first-served basis upon the new receipt date.
Application approval and execution of an Assessment Agreement is required before any
financing is available. Sample Contract Documents can be viewed online at . All
record owners must sign the Application, Truth in Lending Disclosure Agreement (TILA),
Contract Documents, and Assignment, if applicable. See Program Guidelines for more detailed
information.
If there are insufficient funds available, an approved applicant will be placed on a waiting list.
Keep a copy for your records of your completed Application and all documents submitted. Keep
a copy of all receipts, paid invoices, and home improvement contracts.
Mail or deliver your completed Application and attachments to: .
Applications and attachments can also be emailed to . For questions
regarding the status of your Application call or email (To
protect your personal information, make sure your application is encrypted before sending).
For information on home improvement contracts or the status of the state license for your
proposed contractor(s) visit www.myfloridalicense.com/wl11.asp or call the Contractor’s State
License Board at 850-487-1395.
9/9/2010 Page 1
APPLICATION
The Solar and Energy Loan Fund of St. Lucie County (SELF) provides financing for the
installation of energy efficiency improvements, and renewable energy sources that are
permanently fixed to real property (Improvements). Assessment Agreements will be entered into
.
as provided for in State law, and the Solar and Energy Loan Fund Program Guidelines
SECTION 1: Eligibility Requirements
A.Applicant(s) is/are legal owner of the property described in the Application (the
Property).
B.Property is developed and located within St Lucie County. Mobile homes that are not
affixed to real property and subject to secured property tax are not eligible.
C.Property Owner has been current on property taxes for three years.
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D.Property Owner is current on mortgage(s). For commercial property, lender has given
consent to SELF Financing.
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E.Property Owner is not in bankruptcy and the property is not an asset in a bankruptcy.
F.Property is not in foreclosure.
G.There are no federal or state tax liens, judgment liens or similar involuntary liens on the
Property.
H.Improvement costs are reasonable for the scope of the proposed project and to Property
Value. Minimum loan amount is $2,500. Maximum loan amount is $50,000. The loan
amount must be net, after all rebates.
I.Requested Financing Amount for energy conservation improvements do not exceed
twenty per cent (20%) of the market value as determined by the St. Lucie County’s
Property Appraiser unless an energy audit and the Savings to Investment Ratio (SIR)
demonstrates the financial impact on the owner(s) would be neutral based on the energy
savings. Renewal energy improvements are not subject to this limitation.
J.The loan to value ratio (including the Requested Financing Amount) does not exceed 125
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percent. The loan to value ratio may be increased by the Loan Committee based on
compensating factors such as income, credit, etc.
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If property is subject to loan modification because of default or delinquency, additional restrictions may apply.
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For SELF, “residential property” is defined as single-family properties with 1-to-4 residential units; “commercial property” is
all other property.
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If property owner has been in bankruptcy in the past three years, additional requirements may apply.
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Calculation: (sum of all lien balances against the property + requested amount of SELF financing) / market value is less than or
equal to 125%.
SELF Application REV 9/01/2010 Page 2
SECTION 2: Fees and Finances –
In addition to the cost of the improvements, charges include,
but are not limited to, the following:
A.Charges associated with building permit(s) and/or review per local ordinances. Please
check with your contractor and/or local building department.
B.Title search fee which may be included in the loan amount.
C.Fees for properly recording all required documents. Fees may be included in the loan
amount.
D.Interest begins accruing immediately following disbursement.
SECTION 3: Required Documentation
The following documents must be submitted with the application:
A.Current mortgage statements, transaction histories, or other evidence that all mortgages
or any other loans secured by the Property are current, including home equity loans and
home equity lines of credit.
B.Proof of annual income; last income tax return if self-employed.
C.Fair Lending Notice (attached - please complete and sign).
D.Disclosure Regarding Assessment Financing (attached - please complete and sign).
E.Organizational documents if Property Owner is NOT on title as an individual, i.e. Trust
Documents showing the “powers of the trustee” to encumber the property.
F.Commercial properties: Signed consent form from lender.
G.Copy of lease agreement with tenant if rental property.
H.Proof of 30-day notice to mortgage holders/loan servicers of intent to enter into financing
agreement.
I.Copy of Energy audit/survey and Savings to Investment Ratio (SIR)
J.Copy of Improvement estimate and/or contractor’s proposal, equipment estimates, etc.,
including information regarding equipment model, size, energy specifications, etc.
K.Onsite work may begin after ALL of the following acts have occurred:
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Application approval.
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Signing contract documents.
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Property owner receives a “Notice to Proceed”:
SELF Application REV 9/01/2010 Page 3
SECTION 4: Application – Please note that a credit report will be obtained to verify
employment and debt information. This information may or may not be considered during
the approval process.
SELF Application REV 9/01/2010 Page 4
SECTION 5: Declarations
By signing this Application, the undersigned hereby declares under penalty of perjury under the
Laws of the State of Florida all of the following:
1.I (we) am (are) current owner(s) of record of the property described herein (the Property).
2.The Property is not currently involved in a bankruptcy proceeding.
3.The Property is not in foreclosure.
4.I (we) are current on any mortgage or other loan secured by the Property.
5.I (we) and the Property meet the eligibility requirements listed in Section 1.
6.That (i) the information provided in this Application is true and correct as of the date set
forth opposite my (our) signature(s) on this Application and (ii) that I (we) understand
that any intentional or negligent misrepresentation(s) of the information contained in this
Application may result in civil liability and/or criminal penalties including, but not
limited to, fine or imprisonment or both and liability for monetary damages to the Solar
and Energy Loan Fund of St. Lucie County, Inc. (SELF), its agents, successors and
assigns, insurers and any other person who may suffer any loss due to reliance upon any
misrepresentation which I (we) have made in this Application.
7.I (we) am (are) applying to participate in the SELF. I (we) understand that I/we must
execute an Assessment Agreement with the County of St Lucie in order to receive
financing for the Improvements and I (we) have the authority, without the consent of any
third party which has not been previously obtained, to execute and deliver the
Assessment Agreement, this Application, and the various documents and instruments
referenced herein.
8.I (we) understand that the financing provided pursuant to the Assessment Agreement will
be repayable through an assessment levied against this Property. The Assessment
Agreement will specify the amount of the assessment and the assessment installments and
the interest on the assessment to be collected on the tax bill for the Property each year.
The assessment and the interest and any penalties thereon will constitute a lien against the
Property until they are paid, even if I (we) sell the Property to another person. I (we)
understand that assessment installments together with the interest on the assessment will
be collected on my/our property tax bill in the same manner and at the same time as
property taxes and will be subject to the same penalties, remedies, and lien priorities as
for property taxes in the event of delinquency.
9.I (we) understand that if I (we) pay property taxes through an escrow account, it is my
(our) responsibility to notify my (our) lender to adjust my/our monthly payments.
10.I (we) have reviewed any existing loan agreements and security instruments applicable to
the Property, and verified that executing the Assessment Agreement, receiving the
financing for the Improvements, and consenting to the assessment levied against the
SELF Application REV 9/01/2010 Page 5
Property will not constitute a default under any other agreement or security instrument
which affects the Property or to which I (we) am (are) a party.
11.I (we) agree that the selection of any product(s), equipment, and measures referenced in
this Application (the Improvements), the selection of any manufacturer(s), dealer(s),
supplier(s), contractor(s) and installer(s), and the decision regarding the purchase,
installation and ownership/maintenance of the Improvements is(are) my(our) sole
responsibility and that I (we) have not relied upon any representations or
recommendations of SELF, its agents, representatives, assignees, or employees, in
making such selection or decision, and that my manufacturer, dealer, supplier, contractor
or installer of the Improvements is not an agent, employee, assignee or representative of
SELF.
12.I (we) understand that SELF makes no warranty, whether express or implied, with respect
to the choice, use or application of the Improvements, including without limitation, the
implied warranties of merchantability and fitness for any particular purpose, use or
application of the Improvements.
13.I (we) agree that SELF has no liability whatsoever concerning (i) the quality or safety of
any Improvements, including their fitness for any purpose, (ii) the estimated energy
savings produced by or performance of the Improvements, (iii) the workmanship of any
third parties, (iv) the installation or use of the Improvements including, but not limited to,
any effect on indoor pollutants, or (v) any other matter with respect to the Solar and
Energy Loan Fund.
14.I (we) understand that I (we) is (are) responsible for meeting all SELF requirements and
complying with all applicable Federal/State/County/City laws and the requirements of
any agreement which affects the Property or the use of the Property (such as
homeowner’s association requirements, if any).
15.I (we) hereby authorize SELF to obtain and review my credit report. My credit report will
be obtained from a credit reporting agency chosen by SELF. I understand and agree that
SELF may use the credit report for the purpose of evaluating my financial status.
SELF Application REV 9/01/2010 Page 6
Signed on this _____________ day of _________________________, ___________
Date Month Year
In the City of______________________________, State of Florida.
________________________________________ ____________________________
Property Owner Signature Printed Name
________________________________________ ____________________________
Property Owner Signature Printed Name
________________________________________ ____________________________
Property Owner Signature Printed Name
________________________________________ ____________________________
Property Owner Signature Printed Name
THE FEDERAL EQUAL CREDIT OPPORTUNITY ACT, WHICH MAY APPLY TO
THIS TRANSACTION, PROHIBITS CREDITORS FROM DISCRIMINATION AGAINST
CREDIT APPLICANTS ON THE BASIS OF RACE, COLOR, RELIGION, NATIONAL
ORIGIN, SEX MARITAL STATUS, AGE (PROVIDED THE APPLICANT HAS THE
CAPACITY TO ENTER INTO A BINDING CONTRACT); BECAUSE ALL OR PART OF
THE APPLICANT’S INCOME DERIVES FROM ANY PUBLIC ASSISTANCE
PROGRAM; OR BECAUSE THE APPLICANT HAS IN GOOD FAITH EXERCISED
ANY RIGHT UNDER THE CONSUMER CREDIT PROTECTION ACT. THE FEDERAL
AGENCY THAT ADMINISTERS COMPLIANCE WITH THIS LAW CONCERNING
THIS CREDITOR IS THE FEDERAL TRADE COMMISSION, EQUAL CREDIT
OPPORTUNITY, WASHINGTON, DC 20580.
SELF Application REV 9/01/2010 Page 7