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<br />Page 6 Session Law 2024-44 Senate Bill 802 <br />(a) The financing for assessments imposed under this Article may include, but is not <br />limited to: <br />(1) The cost of materials and labor necessary for the installation or modification <br />of a qualified improvement. <br />(2) Permit fees. <br />(3) Inspection fees. <br />(4) Financing fees. <br />(5) Application and administrative fees. <br />(6) Project development and engineering fees. <br />(7) Interest reserves. <br />(8) Capitalized interest, in an amount determined by the owner of the commercial <br />property and the capital provider. <br />(9) Any other fees or costs incurred by the property owner incident to the <br />installation, modification, or improvement on a specific or pro rata basis, as <br />determined by the local government. <br />(b) The term of the C-PACE financing may not exceed the weighted average useful life <br />of qualifying improvements. <br />(c) The total amount for financing of the qualifying improvement secured by the property <br />shall not exceed thirty-five percent (35%) of the value of the property. The calculation of value <br />used to determine the maximum amount of financing available for a particular property shall <br />reflect the reasonable expected stabilized value of the property with the proposed qualifying <br />improvements installed. <br />(d) The financing agreement between the capital provider and the property owner shall <br />be negotiated by the parties, including all terms and conditions of repayment, including interest, <br />penalties, and prepayment. <br />"§ 160A-239.19. Lender consent. <br />Prior to entering into an assessment agreement, the property owner must submit to the <br />statewide administrator a written statement, executed by each holder of a mortgage, deed of trust, <br />or other lien on the property securing indebtedness, indicating their consent to the C-PACE <br />assessment and that the C-PACE assessment does not constitute an event of default under the <br />terms of the mortgage, deed of trust, or other indebtedness secured by lien. <br />"§ 160A-239.20. Prohibition on use of public funds. <br />It is the intent of this Article that neither the State nor any local government shall use public <br />funds to fund or repay any C-PACE assessment. Nothing in this Article shall be interpreted as <br />authorizing a local government to pledge, offer, or encumber its full faith and credit, and no local <br />government shall pledge, offer, or encumber its full faith and credit under this Article. <br />"§ 160A-239.21. Purchases and contracts. <br />The proposed arrangements for C-PACE financing may authorize the property owner to do <br />any of the following: <br />(1) Directly purchase the related equipment and materials for the installation or <br />modification of a qualifying improvement. <br />(2) Contract directly, including through lease, power purchase agreement, or <br />other service contract, for the related equipment and materials used in the <br />installation or modification of a qualif ying improvement." <br />SECTION 2. G.S. 105-375(i) reads as rewritten: <br />"(i) Issuance of Execution. – At any time after three months and before two years from <br />the indexing of the judgment as provided in subsection (b) of this section, execution shall be <br />issued at the request of the tax collector in the same manner as executions are issued upon other <br />judgments of the superior court, and the real property shall be sold by the sheriff in the same <br />manner as other real property is sold under execution with the following exceptions: <br />(1) No debtor's exemption shall be allowed. <br />10