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4851 -5195- 0115.1 <br />0 "i <br />V-; <br />Do <br />nn <br />rn n Z 7C <br />M fl C7 <br />m 10 HI <br />n to <br />x Z <br />ADDENDUM TO LAND USE RESTRICTION AGREEMENT FOR <br />LOW INCOME HOUSING TAX CREDITS <br />' <br />This Addendum to Land Use Restriction Agreement fo Low - Income Housing Tax <br />Credits (this "Addendum ") is entered into this 6 day of , 2015 between the <br />NEBRASKA INVESTMENT FINANCE AUTHORITY (the "Auth ty "), a body politic and <br />corporate, not a state agency but an independent instrumentality exercising essential public <br />functions under the constitution and laws of the State of Nebraska and SOUTHWOOD <br />APARTMENTS, INC., a Nebraska corporation (the "Owner ") and is incorporated into and shall <br />be deemed to amend and restate the Land Use Restriction Agreement for Low Income Housing <br />Tax Credits between the Authority and the Owner recorded on October 25,1995, in Inst. Number <br />95- 107020, filed with respect to the property described hereto and recorded in the official <br />records of Hall County, Nebraska (the "Agreement "). <br />WHEREAS, the Authority allocated to the Owner certain federal low- income housing tax <br />credits with respect to the rental housing development located and described in Exhibit A <br />attached hereto (the "Project "); and <br />WHEREAS, the Owner and the Project are required by the Agreement to continuously <br />comply with Section 42(h)(6)(E)(ii) of the Internal Revenue Code of 1986, as amended (the <br />"Code "); and <br />WHEREAS, the Owner intends, declares and covenants that the regulatory and restrictive <br />covenants set forth herein governing the use and occupancy of the Project shall be and are <br />covenants running with the land for the term stated herein and binding upon all subsequent <br />owners of the Project for such term and are not merely personal covenants of the Owner; and <br />WHEREAS, the Owner shall, by entering into this Addendum, consent to the regulation <br />by the Authority in order that the Authority may enforce the restrictions, terms and conditions of <br />this Addendum in accordance with the Code and the Regulations thereunder. <br />NOW THEREFORE, in consideration of mutual promises and covenants set forth herein <br />and other valuable consideration, except as set forth in this Addendum, the Authority hereby <br />terminates the Agreement and releases the Owner and the Project from the Agreement. <br />Section 1. Term of Restrictions. The Code Section 42 rent requirements shall <br />continue for a period of three (3) years following the date of this Addendum. During <br />N <br />cJ <br />Ui <br />CD <br />W <br />CD <br />N <br />O <br />