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<br /> �, ` � °� LAND vSE RESTatICTIOIeT AGRElE1VIENT �
<br /> ,
<br /> �� FOR LOW YN�OIi�1�HOUSIIVG TAX CREIDITS �
<br /> `L � 98" �to�s4s �
<br /> - '�'� T�IS LAND USE RE3TRICTION A�REEMENT(this"Agreement")is entered into `
<br /> ....,;;,,� � as of the date set forth on the SwmnaYy Page hereof between the 1�T���A��A YI�iV�S'II'I, �R1'Y' _
<br /> °`�''`N"' FINANCE AU'd'80RITY (the"Autharlry'�,a body politic and eotporate, not a sYate agency, _
<br />' :Lry^'"
<br /> ,�;,, . .� but an independent instrumentality exercisuag esseatial public fLnetions umder the constitution _
<br /> '� �'�• aad laws of the State of Nebraska, and the OWNEI� IDENTIFIED ON THE SUNIIVIARY
<br /> PAGE HEREOF (the"Ovvnei"j and the Lender or LLennders identiSed on the Summary Page
<br /> ' �'.� hereof(the"Lender'�. �
<br /> • � .
<br /> �• WITNESSETH: -
<br /> ,. 3� � :
<br /> WH�I�AS,the Authority has bsenn designatcd by tiie Governor of the�gate�f i'Jebraska -
<br />"� �� as the t�oyasing t�ic credit•enti�jr for the State of�N86r�sYsa �or the aUocation of Yow income
<br /> :°>,�L':4 . housing tax credit,ddllats;and
<br /> l;:_,.�.
<br /> ,
<br /> , WI�REAS, the Owner is ar shell be the owner of the rent�l housing development
<br />;,s�.�;;�;�r located and as described on the Summary Page hereof and in Exhibit A hereto (the "ProjecY�;
<br />. �, and
<br />_.:t..:;'° WHEREAS, the Owner has applied to the Authority for an aUocation of low income
<br />- housing tax credit dollars to the Project in an amouat not to exceed the�mount set forth on the
<br />- Swnmary Page hereof;and
<br /> �;;_�:�x.
<br />...•y f_.'L+'
<br /> ::.;�:�' WHEREAS,the Owner aad the Project muat continuously comply with Section 42 aad
<br /> :�-�-,�.,�,'�
<br /> �,..,_� o�iicr��2ica�ta s�ctians of the Iutt� Rs•��us�ade of t985�s�sai�l�(the"�1�"�. a�! -
<br /> _t��� tho Treasury Regulations p�+omulgated thereunder(the•`Regulations'�;and
<br /> --��-r•
<br /> -=- _ -� WI�BRBAS,compliance by the Owuer and the Project with Section 42 of the Code is in
<br />-_=��� large part within the control of the Owaer,and
<br /> -- ==�,�
<br />��_---.�,�� WHEREAS,the Authority is uawilling to allocate low income housing tax credit dollars
<br /> :-r•:.-.:::� to the Project unless the Owner shaU,by entering into this Agrc�ement,consent to be r�gulated by
<br /> �"-``'''� the Authority in order thai the Authority may enforce the t�ccupancy restrictions and other
<br /> -�..:j=�-- covenants, terras and c�nditions of this Agreement in accoid�nce wIth the Co�e and the
<br /> -� - Regulations;and. . , .
<br /> ---F-,��• � :'V;�►.i'�, thc Ow�cr has r�e�t�ta th� At�thociiy� in tbe C?��vn�'s Lflw. Ir.����.. �
<br /> :-:�..� Housing Tax Credit Application (td�e "Application'� that the Uwner shall lease at leas� ths� ` � ,�,� ���•:
<br /> � __° Applicable Set Aside Percentage ca�the units in the Project to ittdividuals or families whose •
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