Common use of Product Description Clause in Contracts

Product Description. MAXIIMUM AMOUNT OF FINANCING AVAILABLE 35% of the property's appraised value MINIMUM FINANCE AMOUNT $10,000 LENGTH OF FINANCING TERM Minimum term of 5 years and Maximum term of 20 Years ELIGIBLE MUNICIPALITIES Municipalities with a Credit Rating Above Investment Grade, provided that municipalities rated A or better will have access to reserve pools that are separate from those for Below A rated municipalities ELIGIBLE PROJECTS Energy efficiency and renewable energy projects, including remote net metering, that comply with NYSERDA and investor owned utility programs or otherwise meet NYSERDA's Commercial PACE Guidelines; renewable energy projects on new construction and substantial renovations are eligible ELIGIBLE PROPERTIES Existing buildings owned by an entity, other than an individual, including new construction and substantial renovations in the case of renewable energy projects ELIGIBLE PROPERTY OWNERS Not in bankruptcy; current on mortgage and property taxes for the past three years LOAN TO VALUE (LTV) LIMITATION Property's total amount of land secured loans is less than or equal to 90%, including the requested PACE financing ANNUAL CASH FLOW REQUIREMENT No COST EFFECTIVENESS/SIR TEST Yes, must satisfy NYSERDA's cost effectiveness test, where the cumulative estimated savings must exceed the total cost of the project

Product Description. MAXIIMUM AMOUNT OF FINANCING AVAILABLE 3510% of the property's appraised value Appraised Value MINIMUM FINANCE AMOUNT $10,000 5,000 LENGTH OF FINANCING TERM Minimum term of 5 years and Maximum term of 20 Years ELIGIBLE MUNICIPALITIES Municipalities with a Credit Rating Above Investment Grade, provided that municipalities rated A or better will have access to reserve pools that are separate from those for Below A rated municipalities "A" ELIGIBLE PROJECTS Energy efficiency and renewable energy projects, including remote net metering, projects that comply with NYSERDA and investor owned utility programs or otherwise meet NYSERDA's Commercial PACE Guidelines; renewable energy projects on new construction and substantial renovations are eligible including certain Remote Net Meter Projects ELIGIBLE PROPERTIES Existing buildings owned by an entity, other than an individual, including substantial renovations and new construction and substantial renovations in the case of renewable energy projects ELIGIBLE PROPERTY OWNERS Not in bankruptcy; current on mortgage and property taxes for the past three years LOAN TO VALUE (LTV) LIMITATION Property's total amount of land secured loans is less than or equal to 90%, including the requested PACE financing ANNUAL CASH FLOW REQUIREMENT No Estimated Annual Savings must be greater than estimated Annual Finance Charge COST EFFECTIVENESS/SIR TEST Yes, Estimated Savings must satisfy NYSERDA's cost effectiveness test, where the cumulative estimated savings must exceed the be greater than total cost of the projectimprovments EIC MEMBER OBLIGATED TO PAY DURING DELINQUENCY Yes ABILITY TO ADD PACE TAX CHARGE TO XXXX DURING CONSTRUCTION No MUNICIPAL RESERVE POOLS Yes LINK TO ENERGIZE NY PACE 1.0 UNDERWRITING STANDARDS xxxx://xxxxxxxxxx.xxx/images/uploads/ENY_PACE_1dot0_Standards.pdf ATTACHMENT 2

Product Description. MAXIIMUM AMOUNT OF FINANCING AVAILABLE 3510% of the property's appraised value Appraised Value MINIMUM FINANCE AMOUNT $10,000 5,000 LENGTH OF FINANCING TERM Minimum term of 5 years and Maximum term of 20 Years ELIGIBLE MUNICIPALITIES Municipalities with a Credit Rating Above Investment Grade, provided that municipalities rated A or better will have access to reserve pools that are separate from those for Below A rated municipalities "A" ELIGIBLE PROJECTS Energy efficiency and renewable energy projects, including remote net metering, projects that comply with NYSERDA and investor owned utility programs or otherwise meet NYSERDA's Commercial PACE Guidelines; renewable energy projects on new construction and substantial renovations are eligible including certain Remote Net Meter Projects ELIGIBLE PROPERTIES Existing buildings owned by an entity, other than an individual, including substantial renovations and new construction and substantial renovations in the case of renewable energy projects ELIGIBLE PROPERTY OWNERS Not in bankruptcy; current on mortgage and property taxes for the past three years LOAN TO VALUE (LTV) LIMITATION Property's total amount of land secured loans is less than or equal to 90%, including the requested PACE financing ANNUAL CASH FLOW REQUIREMENT No Estimated Annual Savings must be greater than estimated Annual Finance Charge COST EFFECTIVENESS/SIR TEST Yes, Estimated Savings must satisfy NYSERDA's cost effectiveness test, where the cumulative estimated savings must exceed the be greater than total cost of the projectimprovments EIC MEMBER OBLIGATED TO PAY DURING DELINQUENCY Yes ABILITY TO ADD PACE TAX CHARGE TO BILL DURING CONSTRUCTION No MUNICIPAL RESERVE POOLS Yes LINK TO ENERGIZE NY PACE 1.0 UNDERWRITING STANDARDS xxxx://xxxxxxxxxx.xxx/images/uploads/ENY_PACE_1dot0_Standards.pdf ATTACHMENT 2