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PSA - The Industrial Revolving Fund
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PSA - The Industrial Revolving Fund
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Last modified
3/31/2025 9:47:09 AM
Creation date
6/15/2017 9:54:31 AM
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Board of Public Works
Document Type
Contracts
Document Date
6/13/2017
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EXHIBIT A <br />Requested Services <br />Staff support will be provided for loan servicing as follows: <br />1) Collection of documentation required by each respective loan agreement. <br />2) Contacting loan recipient if documentation is delinquent. <br />3) Special notification to the Bank Agent in the case of a covenant violation. <br />4) Annual preparation and analysis of financial statement spreadsheet for all loans being <br />serviced, including comparison to industry norms. <br />5) Follow-up with loan recipient to correct loan covenant violations. <br />6) Development and maintenance of Portfolio summary including a list of outstanding loans, <br />balances, terms, rates, job requirements and other pertinent data. <br />7) Maintenance of duplicate loan files including loan documents, amendments to loan <br />documents and correspondence between the IRF and Loan Recipients. Copies of all these <br />documents shall be supplied by the IRF to the City. <br />8) Preparation of Minutes for all IRF Board Meetings. <br />9) Collection of all loan payments and transmittal to the IRF. <br />10) Act as liaison with iRF's Legal Counsel. <br />11) Other staff support services will be provided as required by the IRF except for the following <br />responsibilities which are retained by the Bank Agent: <br />a. Maintenance of original loan documents. <br />b. Investment of the 1RF's cash on hand, <br />The following additional staff support services will be provided at the request of the IRF: <br />1) Loan processing and analysis including a summary of the application covering the following: <br />a. Financial Analysis <br />b. Management Analysis <br />
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