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z fn When Recorded Return to: Legal Division Nebraska Department of Economic Development 301 Centennial Mall South PO Box 94666 Lincoln, NE 68509 -4666 AKNOWLEDGMENT OF COVENANT RUNNING WITH LAND THIS COVENANT is entered into between the Nebraska Department of Economic Development ( "Department ") and Victory Place, LLC c/o Pioneer Investment Victory Place, LLC ( "Owner "), whose address is 404 SW 9 Street, Topeka, KS 66612, upon the date of signature by both parties. WHEREAS, the Department has executed HOME Rental Contract 14 -OERH -4086 between the Department and Hall County Housing Authority ( "Recipient "). WHEREAS, the Department and the Recipient have agreed the Department would provide HOME Program funds in an amount not to exceed Six Hundred Seventy Thousand Sixty - One Dollars ($670,061) total with Five Hundred Thirty -Three Thousand Five Hundred Sixty -One Dollars ($533,561) of HOME funds and One Hundred Thirty - Six Thousand Five Hundred of NAHTF HOME Match funds ($136,500) and such funds would be used, loaned, or otherwise transferred by the Recipient to Owner in order to facilitate the new construction of rental housing units located, or to be located, in Grand Island, Nebraska (the "Project ") at the property legally described as: A tract of land comprising all of Lots One (1), Two (2) and Three (3), Victory Village Subdivision in the City of Grand Island, Hall County, Nebraska and more particularly described as follows: Beginning at the northeast corner of said Lot Three (3); thence running southeasterly on the easterly line of said Lot Three (3) and the westerly right of way line of Wheeler Avenue, on an Assumed Bearing of S28 °22'40"E, a distance of Two Hundred Sixty Nine and Thirty Five Hundredths (269.35) feet, to the southeast corner of said Lot Three (3); thence running S61 °44'49 "W on the southerly line of said Lot Three (3), a distance of Sixty Five and Four hundredths (65.04) feet; thence running N28 °26'46 "W, on the southerly line