PHOTOVOLTAIC SYSTEM CONTRACT
This Contract Agreement Is Between:
Sunvalley Solar Inc. is specified as the Contractor who will provide all labor, materials and equipment in order to complete the following work at the customer's address specified in section 1.B
The following is a list of services and equipment that will be provided by Sunvalley Solar Inc. in order to install the 294.88 kW-DC Photovoltaic System, which is estimated to produce 505,756 kWh annually.
Installation of solar module mounting hardware, AC and DC power disconnects and all required electrical materials such as conduit, wire, and circuit breakers.
All materials are guaranteed to be as specified in section 2.A. The work referenced in section 2.Awill be performed in accordance with the drawings submitted for city permits. All work will consist of quality workmanship. The sum of total project costs is $1,375,550.33 .
PAYM ENT (Photovoltaic System)
The total eligible project costs of $1,375,550.33 will be paid as followed:
(With payments to be made as follows; payments shall be made by cash or check):
(Within 5 business days after the customer receives the cash grant from the U.S. Treasury Department. The payment shall be the exact amount of the cash grant)
(After the customer receives the monthly incentive from Imperial Irrigation District utility company, the customer will pay such exact incentive amount to Sunvalley within 5 business days. The incentive paid by the utility company will be based on the actual production of the installed system; the customer will not be responsible for the differences between the total actual incentive payments and the total estimated payments as stated above)
(Payments to begin within 5 days after system is approved/commissioned by the local utility company)
The customer's total eligible payment is $323,974.08 and shall be applied in 72 installments as monthly periodic payments. Each monthly payment amount is $4,499.64
The first installment is due within 5 days following the photovoltaic system inspection and approval by the City Administrator and Utility Company.
Following the first installment, Sunvalley is to send statements for monthly payment (less the first payment) to the customer. Our payment structure is based upon the premise that all statements are due and payable upon receipt, but in any event, no later than ten (10) days from the date of the statement. Sunvalley reserves the right to charge a monthly late payment fee, at the rate of ten percent (10%) per annum, from the due date for payment until receipt by the Sunvalley of the full amount.
Sunvalley like other businesses has substantial cash demands that require Sunvalley to borrow money if its accounts are not paid promptly. Thus, a finance charge at the rate of ten percent (10%) per annum of the unpaid balance, computed from date of the last invoice until paid will be added to any delinquent accounts. In the event that an account becomes delinquent, Sunvalley employs the same prudent collection procedures used by other businesses, including but not limited to third-party debt collection and legal action.
Sunvalley Solar Inc is hereby giving permission to the customer to transfer his payments to another party under these circumstances. In the case where the customer chooses to sell the property in which the solar photovoltaic system is installed on prior to the end of the 72 payments as agreed upon; the customer may choose to either complete the remaining payments prior to escrow of the property or come to a mutual agreement with the new customer by signing a transferrable payment contract prior to escrow. The transferrable payment contract will relieve the customer of being responsible for the remaining balance for the solar photovoltaic system. The remaining balance of the 72 payments will be the responsibility of the new owner as agreed upon by both parties.
The owner of the Renewable Energy Certificates(RECs), also known as Green Tags, Renewable Energy Credits, Renewable Electricity Certificates, or Tradable Renewable Certificates(TRCs), for this solar system as specified in section 2.A is Sunvalley Solar Inc.
The Contractor Sunvalley Solar Inc. will provide the following warranties and services:
See Attached Sections:
Section 5.A - Acceptance of Contract
Section 5.B - Cancellation of Contract
Section 6.A - Notice to Customer Regarding Complaints
Section 7.A- System Production Guarantee
Section 8.A- Project Schedule
RESPECTFU LLY SU BMITTED,
Sunvalley Solar Inc. is hereby authorized to furnish all material, equipment and labor required to complete the work described in the ab