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<br /> ann�ally an tl�e '�aais of the current income of such occupants. � Any unit occupied by an �
<br /> individual or. f�nl��r wha is a QualiSed Tenant at the commencement of occupancy shall
<br /> continue W��t��tr�d as i�occupied by a QualiSed Tenant,provided that,should such Qualified �
<br /> ?-: Tenant's incc�nuo subseguently exceed 140%of the applicable income limit,such tenaut shall no �:=,::=
<br /> _.,;��= longer be a Qualified Ten�t if, after such determination of income, but prior to the next : _
<br /> � deterno.inat�on,any residenbal uait of comparable or smaUer size is rented to a tenant who is not a �_
<br /> �"�� Qualifed Teusut. �y:_
<br /> r:,..�;,�. ===—
<br /> ' "Qzca�i,fled Unit" rneans a residential unit in tha �roject deaignated for oecupancy by -".
<br /> „ '..}` Qualifi�d'H'esannts. �-
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<br /> " �, "Related Persons" means two or more persons related withia the meanir►g of =
<br /> � '� Sectian 1�7(a)(2) of the Code, i�ccluding, but not limited to, familial and trust relatlonships,
<br /> ' actval or a.t�tbuted partnerslup interests,related cocporations and certcin corgorate shareholders.
<br /> � "Rent Restrlcted tlnis" means a Dwelling Unit if the gross rent with respect to tha
<br /> � Dwelling Unit does not ezceed 30% of tho imputed income limitation applicable to such "
<br /> • �, Dwelling Unit(based on tl�e nwnber of bedrooms therein in accordance with Section 42(g}(2)(C)
<br /> of the Code).
<br /> , '� � "Re utred Nun:ber o Years" means the number of years after the Occupancy Date on
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<br />�• `�� v�hic}a the�aUfied ProjectPerIod expires and as set foith on the Suinmary Page.
<br /> _, ..; � y Sectlom 2. Representatlon, Covenants and Warranttes of the Owner. The 4waer
<br /> --,��,.�.�, malees�t�e followiag representations and warranties to iaduce the Authority to enter into this
<br />=;.s:`:;:;r°; Agc�er»�nt and futther represents,warrants and covenants that:
<br /> _. �..
<br /> ::.,:�:.„,.; -
<br />�•��-�:��=-�y. (a) Tha Own�r(i)is a legal organization as described on the Summary Pa�e
<br /> —��•�!:'��'�� hereof organized wder the laws of the State identified on the Sumnnary Page thereo�and �
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<br /> ���� F .•�� is qualified to �ct business under the laws of.the State of Nebraska, (ii)has the �
<br /> `'���� pa�ver aad authority to own its properties and assets and to carry on its business as now
<br /> ;�"`"'=-=:`q` being conducted (aad as contemplated by this Agreement) and (ui)has tha �11 legal
<br /> _-_._,�.�,�
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<br />-����^�+� right, power and authority to execute and deliver this Ag,�eement and to perform aU tha _
<br />-���`",�;��:z�: undertakings of the Owner hereunder.
<br /> �__-.=� ,
<br /> _-��''�' . (b) The oxecution and perforn�ance of thic Agreennent by the Ovvner(i)will � . •
<br /> -- _ ' not violate or.as applicable,have not violated aay prcrvision of law,tule or reguladon,or �
<br /> -- ===�a '. a�ap order of an,y court or other agency or govemm�sta�body, {ri)will not violate or,as �' �
<br /> -,::�.: ----.
<br /> -_-_� : apPlicable, have not vlolated any provision of any in�enture, agreement, mortgage, --
<br /> --T��:;�,�: mortgage note or athvr instrument to wluch the Uwner is a party or by wluch it or its
<br /> �._e.��v�y+ii� pmperiy is bound and (iii),will not result in the crsation or imposition of any prohibited
<br /> "��,.;:;� lien,charge or enoumbrance of any nature.
<br /> _}��;� _
<br /> -=��=��' � (c) The Ouvnner wjU,at the time of e�cecution and delivery of tuis Ageeement, . �
<br /> --t�:;:� have good and ma�icetable title to the premises constituting the Project free and clear of
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<br /> ;:;r;;;,:, any prior lien or encunabrance.
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