(1) An environmental upgrade agreement must specify the following--(a) the environmental upgrade works to be carried out by or on behalf of the building owner under the agreement,(b) the amount of the advance or advances to be made by the finance provider under the agreement,(c) the arrangements for repayment of the advance or advances (the
"agreed repayment arrangements" ).
(2) The agreed repayment arrangements may require the council to levy a charge (an
"environmental upgrade charge" ) for the purpose of discharging the building owner's obligation to repay the advance or advances made by the finance provider under the agreement (including any interest or other charges payable under the agreement).
(3) The agreed repayment arrangements must specify--(a) the amount of the environmental upgrade charge or charges to be levied by the council under the agreement (or a method for calculating the amount of the charge or charges), and(b) the date or dates on which the charge or charges are to be levied by the council, and(c) any adjustments to be made to the charge or charges in the event of late payment.
(4) Money paid to a council in respect of an environmental upgrade charge is to be paid by the council to the finance provider in accordance with the environmental upgrade agreement.
(5) An environmental upgrade agreement may permit the early repayment of any amount payable under the agreement.
(6) An environmental upgrade agreement must be in writing.
(7) An environmental upgrade agreement may include any other provisions agreed to by the parties.
(8) An environmental upgrade agreement may be varied or terminated by further agreement between the council, the finance provider and the building owner for the time being.