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201605360
<br />RESTRICTIVE USE COVENANT - THE LAST EXISTING TENANT
<br />Use if No Impact on Minorities but There is Not an Adequate Supply of Housing
<br />(7 CFR 3560.662(b)(2))
<br />WHEREAS, Doniphan Economic Development Corporation, "Owner ", or a predecessor in
<br />interest, received a loan from the United States of America, acting through the Rural Housing
<br />Service in Rural Development (Agency), U.S. Department of Agriculture which was evidenced by a
<br />promissory note and assumption agreement dated November 1, 2000, in the original amount of
<br />$152,300.00 and $140,423.83 and secured by a certain Deed of Trust or Mortgage dated November 1,
<br />2000, and November 19, 1980, and recorded in the land records for the City or County of Hall for the
<br />purpose of providing housing in accordance with Section 42 U.S.C. 1484 (Section 514) or 1485 (Section
<br />515), whichever is applicable, and Title V of the Housing Act of 1949, as amended "Program "; and
<br />NOW, THEREFORE, in consideration of the restrictions on the Property as further described in
<br />Exhibit A, the sum of Ten Dollars ($10) and other good and valuable consideration, the receipt
<br />and sufficiency of which are hereby acknowledged, the parties, for themselves and for their
<br />respective successors and assigns, hereby covenant and agree as follows:
<br />(1) Use Requirement. The Owner, and any successors in interest, agree to use the Property in
<br />compliance with 42 U.S.C. § 1484 or § 1485, whichever is applicable, and 7 CFR part 3560, and
<br />any other applicable regulations and amendments, for the purpose of housing program eligible
<br />very low -, low -, or moderate- income tenants.
<br />(2) Enforcement. The Agency and program eligible tenants or applicants may enforce these
<br />restrictions as long as the Agency has not terminated the Restrictive Use Agreement pursuant to
<br />paragraph 6 below.
<br />(3) Displacement Prohibition. The Owner agrees not to refuse to lease a dwelling unit offered
<br />for rent, or otherwise discriminate in the terms of tenancy, solely because any tenant or
<br />prospective tenant is the recipient of housing assistance from the Agency or any other Federal
<br />agency.
<br />(4) Owner's Responsibilities. The Owners agrees to: set rents, other charges, and conditions of
<br />occupancy in a manner to meet the restrictions required by this Restrictive Use Covenant; post an
<br />Agency approved notice of these restriction for the tenants of the property; to adhere to applicable
<br />local, State, and Federal laws; and to obtain Agency concurrence for any rental procedures that
<br />deviate from those approved at the time of prepayment, prior to implementation.
<br />(5) Civil Rights Requirements. The Owner will comply with the provisions of any applicable
<br />Federal, State or local law prohibiting discrimination in housing on the basis of race, color,
<br />religion, sex, national origin, handicap or familial status, including but not limited to: Title VI of
<br />the Civil Rights Act of 1964 (Public Law 90 -284, 82 Stat. 73), the Fair Housing Act, Executive
<br />Order 11063, and all requirements imposed by or pursuant to the Agency regulations
<br />implementing these authorities, including, but not limited to, 7 CFR 3560.104.
<br />(6) Release of Obligation. The Owner will be released from the obligation under this Restrictive
<br />Use Covenant when the Agency has determined that the last existing tenant at the date of
<br />prepayment has left or when the Agency determines that there is a no longer a need for the
<br />housing or that HUD Section 8 vouchers provided the residents of the housing will no longer be
<br />provided due to no fault, action or lack of action on the part of the Owner.
<br />(7) Violations; the Agency's Remedies. The parties further agree that upon any default under
<br />this covenant, the Agency may apply to any court, State or Federal, for specific performance of
<br />this Agreement, for an injunction against violation of this covenant or for such other equitable
<br />relief as may be appropriate, since the injury to the Agency arising from a violation under any of
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