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CASH <br />-m. C, F <br />? .._ ,,,,,. <br />N cal <br />N 0 <br />i3GO II2 <br />CHECK ,'.jC/ J <br />REFUNDS: <br />CASH <br />CHECK <br />iO DE <br />HALL NTY NE <br />1015Ji 8 AII: II <br />1 <br />l)L) <br />REGISTER OF DEEDS <br />ASSUMPTION OF LAND USE RESTRICTION AGREEMENT <br />FOR LOW INCOME HOUSING TAX CREDITS <br />This Assumption of Land Use Restriction Agreement for Low Income Housing Tax <br />Credits (this "Assumption") is made and entered into as of January 16, 2025, by SOUTHLAWN <br />V, LLC, a Nebraska limited liability company (the "Owner"), for the benefit of the NEBRASKA <br />INVESTMENT FINANCE AUTHORITY (the "Authority"), a body politic and corporate, not a <br />state agency, but an independent instrumentality exercising essential public functions under the <br />constitution and laws of the State of Nebraska, with respect to those certain Land Use Restriction <br />Agreement for Low Income Housing Tax Credits by and between the Authority and KRS <br />ENTERPRISES, L.L.C., a Nebraska limited liability company (the "Prior Owner") recorded on; <br />November 9, 2001 as Instrument No. 0200111465, with respect to the property described hereto <br />and recorded in the official records of Hall County, Nebraska ( "the Agreement"). <br />WITNES SETH: <br />WHEREAS, the Agreement relate to the rental housing development located as described <br />on the attached Exhibit A (the "Project"); and <br />WHEREAS, the Prior Owner entered into the Agreement with the Authority for the <br />purpose of, and as a requirement for, the receipt of benefits of low income housing tax credits <br />associated with the Project; and <br />WHEREAS, the Owner purchased the Project from the Prior Owner on March 21, 2024, <br />and is willing to assume the duties and obligations of the Prior Owner under the Agreement. <br />WHEREAS, the Owner and the Project must continuously comply with Section 42 and <br />other applicable sections of the Internal Revenue Code of 1986, as amended, and the Treasury <br />Regulations promulgated thereunder; and <br />NOW, THEREFORE, in consideration of the mutual promises and covenants hereinafter <br />set forth, in the Agreement and this Assumption, and of other valuable consideration, the Owner <br />and the Authority agree as follows: <br />4842-8574-5182.1 <br />