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202504772
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Last modified
8/26/2025 4:14:45 PM
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8/26/2025 4:14:42 PM
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DEEDS
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202504772
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202504772 <br />qualified allocation plan related to the LIHTC and the AHTC. Any extraordinary legal fees <br />incurred by the Authority with respect to the Project will be paid by the Owner. The Owner <br />hereby agrees to pay, indemnify and hold the Authority harmless from any and all costs, <br />expenses and fees, including all reasonable attorneys' fees which may be incurred by the <br />Authority in enforcing or attempting to enforce this Agreement, including, but not limited <br />to (a) in the event that the various reports are not submitted as required hereunder and <br />the Authority conducts an on -site inspection of the Owner's book and records and/or <br />(b) following any default on the part of the Owner hereunder or its successors, whether <br />the same shall be enforced by suit or otherwise, together with all costs, fees and expenses <br />which may be incurred in connection therewith; and/or (c) all costs, fees and expenses <br />which may be incurred in connection with any interpretation of or amendment to this <br />Agreement or otherwise by the Authority at the request of the Owner (including, but not <br />limited to, the reasonable fees and expenses of the Authority's counsel in connection with <br />any opinion to be rendered hereunder). The Owner agrees to release the Authority from <br />any claim, loss, demand or judgment as a result of the allocation of tax credit dollars to <br />the Project or the recapture of same by the IRS and to indemnify the Authority for any <br />claim, loss, demand or judgment against the Authority as the result of an allocation of <br />LIHTCs or AHTCs to the Owner related to the Project or the recapture of same by the <br />IRS or the State of Nebraska. <br />Section 13. Right of First Refusal. If the Summary Page to this Agreement <br />indicates that the Owner has agreed to provide a right of first refusal for a period of at <br />least one year to a non-profit entity (the "Right of First Refusal"), the Owner agrees and <br />represents the following: <br />(a) the representations made by the Owner in connection with the <br />submission of the Application and Final Cost Certification regarding the <br />Right of First Refusal are hereby ratified in their entirety and the materials <br />submitted with the Application and Final Cost Certification regarding the <br />Right of First Refusal remain true and correct. <br />(b) In the event the non-profit entity designated by the Owner ceases to <br />exist, an alternative non-profit entity shall be proposed by the Owner with <br />respect to the Right of First Refusal. Such alternative non-profit entity must, <br />at a minimum, meet the same requirements set forth in the Application with <br />respect to the non-profit entity being granted the Right of First Refusal <br />(including that such non-profit entity have an organizational purpose that <br />includes the development, ownership or operation of affordable housing for <br />low income persons and families), must meet any additional requirements <br />of the Code and must be acceptable to, and approved in writing by, the <br />Authority. <br />Section 14. Sale, Transfer or Other Disposition of the Project. (a) Any <br />transfer, sale or other disposal by the Owner of the Project requires the prior written <br />consent of the Authority and payment of the fee set forth in the Authority's qualified <br />allocation plan related to the LIHTC and the AHTC. Such notice of proposed sale, <br />16 <br />4/2023 <br />
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