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<br /> , .. �;���to�; Agret�moi�t � � u.s.��w���.�it o9�us��,�, r/,� " _.
<br />�' J Y AP �OfAc•olHo,@r*yYOiopm�nt �4 ������
<br /> Haus�� forthe Elderi or Handic� ed � -� "'�r" `�,::�� ���:�-
<br /> . � .. (Ncnn�,�fit) . ,. --
<br /> „ ^„c;an 0!�uus���y A.slst;.:.ca Aoyc.�,�ts CanVcct
<br />. . Soctlan 20z oi tha Hou�ing Aci o119S9 Propct Aialstance Contract _�__ .{,,_.;::��;i�'�:'�'
<br /> �� .4 , r�oJau N�nlbor ----- Amuum o1�Aong�xgo Noto Qate .``- ?'�� ,
<br /> 103-EH001-tIP-WHC/L8 �1,056,6t}0 J� 18, 1480 �'. � , ',`�` �;_
<br /> ., � M�age Reco�'ctr,tl in:St�w Counry ont� '�
<br /> " Me raska Adams, Hal l, Custer, Furnas Jul� .18s 19t30 � . ..- ..-..
<br /> �•,�„�:`--
<br />-{ . . Th7s Agrccmcnc encered inco chis ZOth day of Oc�ober .19 94.beswcxn Piebraska Assaci ati on for ����'__.
<br /> �";``,:�,�
<br /> ° Deveiop�ental Housiny • `�"�'��r�"�n° �
<br /> whosenddreas€s Sc:attered S9tes �-�������-'�����
<br /> :v.�.
<br /> i+ercLuftoa called Mortgagor,er�d the uadersignedSecrelary of Housing nnd Urban Development herei�atter called HLTD. , ;.,..���,�.,
<br />, ., In cansideration of tho ertaJdng of the l�n by�{�JA and the disbursement of any part thenof.and in oMer to camply with the re.quirernen►.� • ,�'"=_�---
<br /> - of t!._Ho_s_n,Pzs ef�l959.end the Rsgnlatianc ado?ated by�ho Seraetnry pu�unnt thereto.the MortgaRa a�e.s fa itulf,its sncce;san ancl .''='��---�=--- -
<br /> t� • • N � .�.r+w�.e`-ez'�����
<br />" assigns.and uny owner af tha mort8uged�mpeny.lhat tn comxction with the mort ed roperty und thc(xnject o ud tltereon s�nd salorc ' =�+�"`�"�"`=`
<br /> 3a8 P A� B , »�,.�-.-..:
<br /> . as�he loan ns outstanding: �`.�-�—
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<br /> 1. Mottgngor shall prompdy m�ko aU psymenu duo unda�he Note u►d ' �hoNazionalCreditUrdanSham�nstuenaFund.Concwrantlyw:�htize �,1,::;.�.����=•
<br /> MortgAge. effectivo due of t}�y,f�si�,(�1pce Contra�ct.�}►e Monasaot wilY depait ar "v� ---:
<br /> uttount ua1 ur S�1/./b petmun�h unlcss a di[faau dir�e ^T� �•,_
<br /> al ,, ,Y.tP:.��+._,.
<br /> 2. Mongs,gorwillesublishandmaintai:►�apoc{dfundnobelaiownasthe orunouncismpmvedinwririnabyHUD.Such[und,wlx�t►atnthaforrn �tc`�;�V,_- '
<br /> ri
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<br /> revatuofund�ccotwtin abankwhich is amemberoftheFede:d Deposit of e cash deposit cx invested In obligations of,or fully gwurmteed a��o �,..�`t-R�_— __
<br /> � Ins�aar�co Cotparulon.S�vings Associafiun Ins¢ntnce Fund.or thn Na- principd by,ihe United Sutrs of Amuiu stull at aU times be aubJcct ta ?+�"{ ' �
<br /> tionalCrulitUnionShueI�uuranceFundlruowM�hwillbedepositedall the cantrol of HUD.D'uM�semrnts fram auch tund.ahether for tha
<br /> ronWs� charges, income a�►d revenue ncising fiom the opaation or purposo of effecting�tiplecemcnt of swcaual elanrnt�atd mechmical � _
<br /> ownesshipofihapcojac� �apendituzesshallbemade finmt2w:evenue �,quipmentofihepso}ectarformyotherpiapose,miybemadeonlyittet
<br /> ' fundacooimtonlyinaccordaneewiththeoperacingbudgusubmittedto theconsentinwriringoiiiLu.Incnaevemoiadefauii�inoic.u�sviii� ���`� "
<br /> uad epprovod by HIJD. mongage.I{UD may demucd thc tiill orputId appltcation of�he 6�1u►ce �
<br /> in auch[�md to the�ruount duo on 1he mortgage debt. , .
<br /> 3. Not lata tLea 30 days prior to the bcginnn�g oF ezch C�scal ye�,thc
<br /> Mong+agor shnll submit�n opaeting budgu for that Gscal ye8 to HUD. (b) Mortgagor will deposit the minimum capiul investmau with�t .
<br /> 'Itie 6udgetstutll includo all neoessary operuing expenses,aurent mtin- escrow agent saceptable to HUD pins��nt to Regulations.
<br /> tentnca c}urges.e�enses of reasonable upkup and repws`tues tnd
<br /> spaci�l�ssaimrntlevies,prontedunounurequiredfczirauranceandall (e) WitRin60daysdtertheendofeachfucalyear.u�yreridudrectipte � '
<br /> othuaapensea incidentw tho opention of the pmjea;andshallshow�he tealized from the operetion of the mon�steed propaty ahill be depostted =.,��-�° �
<br /> e�xctc.d rovenuw W pay such cxperuw,including utnuil debt savicn inasepaate�esidualrecsigtsaxovnt R�sidualreaiptsshallbeundathe �.7',�
<br /> iequiremcnb md resesva fund deposits.Tho expnuc�inwred ind con�ol of HUD md shaU be dtsbiusrd onnly at tho disaetion of HUD Cor 'v, �� ''�
<br /> d'ub�asustrnn shdl not excecd i}►e reasomblo�r►d nocessxry emount such putpou as It may det�mira w be necessQy or nppropritte_ ��'f
<br /> theno�and it►n Mongigor will not cxpend eny nmount or inc�a iny •'' " �+ �__
<br /> oUligatians in uxcess of tho amounts approvc�ia the anaual operating G. Thc tcal ptoperry rnveral by ihc mortgugc�td tlus Agteunau is de• �' R� .
<br /> bixlget exapt upon wriiten cati&cation by tha Mottgaga to HUU ihat acribed in Schedule A nitzched hercto. � ��`
<br /> suchcxprnscsweteunendcipuedandareneocssaryandptovidodfiuther, ' , -
<br /> thnt aothing in this secdon shall limit the amount which the Mortgagor 7. Mortgagor shall not without tlu written npproval of tho Secntary;
<br />- may cxpend Crom Ciu►ds obusincd from somc other sowcc than projec� (a) Transfer.dispose of or encumber a�yr of[he mongaged pmpaty. `
<br /> revemies or wJia Cunds requiral of thc Mortgagor pucsuant to this Any such trnnsfer shnll be anly to a pe[son or persrnu or corpomtion '����
<br /> • Agnemmtor thoBu�ding Loan Agrecmen� sntisfnctory to end approved by HUD,who shnll,hy legel enA valid �;' '_.`
<br />- ' � inaalancntinwriting,toberecar�odorCiledinthesamerecordingoftiCa ", ;: e;
<br /> 4. /\ssccurftyfatheloan.fortherequi�dpayments wtderihis A�eemnnt in which oonveyances of the propeity coverecl by tha mottgage ue •*, + '•
<br /> into ther�esave fwid forreplacement„and for all othar obligations o[�he mquimd to be filal or rcco�lat,duly assume all obligaaoru unda this ±� ��
<br /> Mortgagoiunder this Agreem�G cha MoRgegor hemby assignt,pledges Agrcement and imdcr tlxi Nou and Mongegc; l � �y�
<br /> andntortgag�ooHWnllitsrightsco►heincomonndchargesofwhataver � �.
<br /> "" ' sortwhichitmayrxciveorbeencidedtoraeivefromtheopeaetionotthe (b) Assign,trmisfcr,disposc of,or enatmbcr any pasonal pmperey, � ' ,'
<br /> mortgeged p�operry. snbjsc;however,to any assignmcnt of rents or including rrnt9 or charges,and sh�)1 not disbwse or pay out nny funds I
<br /> ��� projeci Ittmme in the mor�sEo refemd to hercin.Until a da�ault oavrs except as pta.vided iterein and in tho Bu�ding Lonn AgrecrnenG 3
<br /> under�his Ag�eancnt,howcver,petmission is�nn[od to Modgugor to j `
<br /> callect aredretain under thc provision,of this Agrecmcnt such renu, (c) Remodel,reconstruct,addto,ordemolishanypartofthemottgage:d i •
<br /> �. income,oY-ratin8 surPlus and chergcs,but upon de(ault ihis Y,emiissian property or subtrnct from any rcal or prrsonal property of thc projec4 J
<br /> is tunwiated,as to all r..nts,incoma,op..^rating suTplus and chstges due or
<br /> collee[ed theteaftu. (d) Pay any eompensndon or make nny disaibution of income orothcr -
<br /> �� nssets u�any of its officers,directors or stockholdrls;
<br /> � 5. (a) MurtgeRor will esm�lish nnd maintnin a resere fwd for rploce- ,'
<br /> ' ments in a separate sccount in s bank which is insured by tho Federal (e) Enter into nny contract or convnets For supervisary or managai al ' '
<br /> � Depos it Insuranw Corporation.Savings Associntion Lnsicance Fund,or services; , --
<br /> � Previous Editions aro Obsolete.
<br /> _ form PIUQ-924G6•EH 17i901 �
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