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2436 N TAYLOR AVE, GRAND ISLAND, NE 68801 <br /> 201703497 <br /> Attachment 1 <br /> USE AGREEMENT <br /> For Section 202 and 202/8 Projects that require HUD' s <br /> approval to prepay their direct loan. <br /> This Agreement entered into this 391k day of <br /> 2017 by and between Greater Nebraska Independent <br /> Housing, Inc. (herein called "Owner") and the Secretary of <br /> Housing and Urban Development, acting by and through the <br /> Assistant Secretary for Housing-Federal Housing <br /> Commissioner (herein called "HUD") , <br /> Witnesseth: <br /> WHEREAS, HUD is directed, pursuant to Section 811 of <br /> the American Homeownership and Economic Opportunity Act of <br /> 2000 (AHEO Act) , as amended by Public Law 111 - 372, to <br /> permit the Owner to prepay Section 202 direct loans; and <br /> WHEREAS, in consideration of the promise to permit <br /> the prepayment of the direct loan, and as required by <br /> Section 811 of AHEO Act Owner agrees to implement this Use <br /> Agreement. <br /> NOW THEREFORE, the parties agree as follows : <br /> 1 . Owner, for itself, its successors and assigns, <br /> covenants with HUD that the Owner will continue to <br /> operate the project on terms at least as <br /> advantageous to existing and future tenants as the <br /> terms required by the original Section 202 direct <br /> loan agreement and, where applicable, Section 8 or <br /> any HUD rental assistance payments contract and all <br /> applicable Federal regulations for not less than the <br /> twenty years following the maturity date of the <br /> original Section 202 direct loan. Accordingly, this <br /> Use Agreement shall remain in effect until [insert <br /> expiration date] ; <br /> 2 . Where applicable: <br /> a. Subject to the availability of appropriations and so <br /> long as Owner is in compliance with all HUD <br /> requirements, including but not limited to this Use <br /> Agreement, HUD shall provide, and Owner shall <br /> 1 <br />