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<br />CASH_
<br />CHECK
<br />REFUNDS:
<br />CASH
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<br />HALL CC'
<br />1013 Vi;;;',
<br />REGISTEROF L E I-
<br />-C i....E.L:
<br />When Recorded Return to: Legal Division
<br />Nebraska Department of Economic Development
<br />PO Box 94666
<br />Lincoln, NE 68509-4666
<br />AKNOWLEDGMENT OF COVENANT RUNNING WITH LAND
<br />23 0
<br />THIS COVENANT is entered into between the Nebraska Department of Economic Development
<br />("Department") and McCoy Meadows, L.P., a Nebraska Limited Partnership ("Owner"), whose
<br />address is 1801 California Avenue, Turlock, CA 95380, upon the date of signature by both parties.
<br />WHEREAS, the Department has executed HOME Program Contract 17-OERH-30103 between
<br />the Department and Building A Better Tomorrow, Inc., a 501(c)(3) Nonprofit corporation
<br />("Recipient").
<br />WHEREAS, the Department and the Recipient have agreed the Department would provide
<br />HOME Program funds in an amount not to exceed Five Hundred Thousand Dollars ($500,000)
<br />and such funds would be used, loaned, or otherwise transferred by the Recipient to Owner in order
<br />to facilitate the new construction of fifty-six (56) rental housing units located, or to be located, in
<br />Grand Island, Nebraska (the "Project") at the property legally described as:
<br />Lots 2, 3, 4, 5, 6, 7, 8, 9 and 11, Block 2; Lots 1, 3, 4, 5 and 6, Block 3; and Lots 1, 2,
<br />3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, Block 4, McCoy Meadows, a Subdivision in the
<br />City of Grand Island, Hall County, Nebraska
<br />WHEREAS, three (3) of the Project's fifty-six (56) units shall be HOME -assisted units. HOME -
<br />assisted units in a rental housing project or HOME -assisted non -owner -occupied units in single-
<br />family housing purchased with HOME Program funds must be occupied only by households that
<br />are eligible as low-income families and must maintain maximum rent limits and occupancy -
<br />eligibility limits as established by the United States Department of Housing and Urban
<br />Development ("HUD").
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