Eligibility. In order to be eligible for this Program, the following criteria must be met: The property must be a qualified property. Obtain an energy audit approved under program guidelines. Before any loan is approved under the Program, the County or its Program Manager must give due regard to the property owner's ability to repay a loan in a manner substantially similar to that required for a mortgage loan under Sections 12-127, 12-311, 12-409.1, 12-925, 12-1029 of the Commercial Law Article of the Maryland Code. The property owner must submit the following to the private lender or the County designated lender at the time of application for funding: Express written consent to the surcharge of any holder of an existing mortgage or deed of trust on a qualified property; and Verification that there are no delinquent fees, taxes, water or sewer charges or other special assessments on the qualified property. The loan amount under this Program must meet the following criteria: The loan amount must be for at least $25,000 and not more than 20% of either the full cash value or the appraised value of the qualified property. The full cash value is determined by the Maryland State Department of Assessments and Taxation. The appraised value must be determined by a Certified General Real Estate Appraiser and must have been certified no more than 12 months before the date of the loan application. The loan amount, together with the outstanding balance of the mortgage or deed of trust, must be no more than 90% of either the full cash value or the appraised value of the qualified property. The County may not finance or fund any loan under the program, shall serve only as a program sponsor to facilitate loan repayment by including the surcharge on the County real property tax bill for the property, and shall incur no liability for the loan. The property owner shall agree to spend at least 50% of the total costs incurred on the energy efficiency and clean energy improvements on contracts with County-based businesses, and shall agree to utilize best efforts, as determined by the County MBE Compliance Manager, to spend at least 50% of total costs incurred on contracts with County-based minority business enterprises. The property owner shall agree to spend at least 35% of total costs incurred on the energy efficiency and clean energy improvements on contracts with (i) County-based minority business enterprises and (ii) Locally-owned and Operated Businesses, which are County-based businesses that are also County-resident owned businesses, as those terms are defined in Subtitle 10A of the Code. The property owner shall also submit a Local Spending Plan to the program manager for approval, subject to the satisfaction of the program manager. The Local Spending Plan shall demonstrate the manner in which the property owner will satisfy its commitment to meet the spending requirement set forth in this paragraph. Property assessed clean energy surcharge. The property owner of qualified property must agree to repay the amount financed through a surcharge levied on the County's real property tax bill for the qualified property. A surcharge may be imposed under a written agreement between the County designated lender or private lender and the County. As a condition for entering into an agreement under the Program, the County designated lender or private lender must provide the County designated program manager and the Department a copy of the loan documents and documents that verify: The property owner's ability to repay the Property Assessed Clean Energy loan in a manner substantially similar to that required for a mortgage loan; There are no delinquent taxes, special assessments, or water or sewer charges on the qualified property; There are no delinquent assessments on the qualified property under the Program; The property owner has obtained all necessary permits; The improvement is permanently affixed to the qualified property and complies with all applicable State and Federal statutes and regulations, as determined by the appropriate regulatory authority; Existing mortgage or deed of trust lender consent; Appraised value of the qualified property as certified in the appraisal report submitted by a Certified General Real Estate Appraiser if the eligibility requirement is based on the appraised value of the qualified property; Loan to value documentation; and Any other financial or program document that the Director deems necessary. In addition to the administrative fees, the County may collect an administrative fee through the surcharge to cover charges relating to lending, program management, billing, or collection.