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State of Nebraska, County of Hall -- ss. GENERAL NOTARY - State of Nebraska JULIE J. SKEEN My Comm. Exp. July 19, 2015 Return to: Mesner & Mesner, 2604 26th Ave, Central City, NE 68826 Hall County Housing Authority, a municipal housing authority, under the laws of Nebraska One Dollar and other valuable consideration X 3 n i Mary Living`• 0 CD --4 3> —c -< c") r'..) z 1 CORPORATION WARRANTY DEED Shady Bend Villas, LLC, a Nebraska Limited Liability Company, conveys to GRANTEE, the following described real estate, (as defined in Neb. Rev. Stat. 76 -201): organized and existing GRANTOR, in consideration of received from GRANTEE, Lot 1 of Von Ohlen Third Subdivision in the City of Grand Island, Hall County, Nebraska The above property shall be maintained as affordable family housing to not less than 20 households earning at or below 50%- 60% of Area Median Income (known as "Use Restrictions ") for not less than 30 years from the date the final building is "Placed In Service" as evidenced by a Certification of Occupancy (known as "Use Period "). Shady Bend Villas, LLC (known as "Owner") shall maintain ownership and operation of the property during the Use Period. Owner shall not convey, sublease or transfer the Property without prior approval from Hall County Housing Authority and the Department of Housing and Urban Development during the Use Period. If Owner faits to develop and use the property as outlined in the Department's Approval Documents at any point during the Use Period, all interest in the property shall automatically revert to Hall County Housing Authority ( "Possibility of Reverter"). Prior to the Possibility of Reverter, Owner and its Investor Member shall be given notice and 90 days to cure said failure. The Department of Housing and Urban Development shall have a third party beneficiary interest in Hall County Housing Authority's Possibility of Reverter and if the Property reverts to Hall County Housing Authority during the Use Period, Hall County Housing Authority shall immediately contact the Department to determine the future use of the Property and any necessary legal documentation that must be recorded against the property. Hall County Housing Authority is responsible for monitoring and enforcing the Use Restrictions during the Use Period. GRANTOR covenants (jointly and severally, if more than one) with GRANTEE that GRANTOR a. is lawfully seised of such real estate and that it is free from encumbrances, except easements, reservations, covenants and restrictions of record; b. has legal power and lawful authority to convey the same; and c. warrants and will defend title to the real estate against the lawful claims of all persons. Executed: February , 2014. Hall County Housing Authority, Grantor M/Xf- L J 9- � Notary Public W {ti - The foregoing Corporation Warranty Deed was acknowledged before me on `� , 2014, by Mary Livingston, Board Chairperson of Hall County Housing Authority, a Nebraska Municipal Housing Authority on behalf of the Authority.