201505069 - Laserfiche WebLink

Browse

m r1 r1 m Vt ry Z fl 7C = C— r rV F—� CD • NATIVE AMERICAN HOUSING ASSISTANCE AND SELF - DETERMINATION ACT USEFUL LIFE /USE RESTRICTION Legal description iption of property (hereinafter referred to as the "Property") Lot 21, ) rrl Heights 4 Sub. or 425Q Br nding Iron Court, Grand Island, NE 68803. kkatk Cove, R.Q.bra 5140. This Affordable Native American Useful Life /Use Restriction, a covenant running with the land (hereinafter the Land Restriction), dated this 22 " day of July, 2015 for good and valuable consideration, is hereby declared covenanted and made by Russell M & Jacquelyn D Kallhoff (hereinafter the Owner), who is the owner(s) of the Property. The Land Restriction is imposed because Indian Housing Block Grant (IHBG) and ICDBG funds to benefit the Property have been granted or loaned by Northern Ponca Housing Aythority , an Indian Tribe or an Indian or Alaska Native tribally designated housing entity (hereinafter the Tribe), to assist or facilitate low- income Indian Housing. 1.0 Deed Restricted 1.1 Use Restrictions. The Property shall be used only for residential purposes and that residential occupancy shall only be by individuals or families who are members of, or are headed by a member of, a federally recognized tribe or an eligible State recognized tribe who are low- income. The terms "federally recognized tribe," "State recognized tribe" and "low - income" are as defined in the Native American Housing Assistance and Self- Determination Act (hereinafter NAHASDA), 25 U.S.C. §§ 4101, et seq. 1.2 Subsequent Owners. Family or household members who take Subsequent Ownership will not be subject to the binding agreement. However the binding commitment will not terminate upon subsequent family /household ownership, the binding commitment will not apply to the family /household. Any subsequent transfer by the family member or household member to a third party (not a family member or household member) is subject to this Land Restriction for the remaining affordability period. 1.3 Restricting Owners. All of the rights, restrictions and agreements in this Land Restriction shall be deemed to be covenants and a deed restriction placed on the Property and Owner and binding and enforceable against the Owner and other subsequent owners of the Property; however, subsequent Owners that are family members or household members are not subject to this Land Restriction. Any subsequent transfer by the family member or household member to a third party (not a family member or household member) is subject to this Land Restriction. 1.4 Covenant Running With the Land. The Owner declares and covenants on behalf of itself that this Land Restriction and all accompanying enforcement rights run with the land until the Termination Date. 1.5 Term. This Land Restriction, including all of its rights, restrictions, covenants and agreements, shall expire five (5) years from the date of'this Land Restriction agreement N) CD CI1 CD UI O C7) CO