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<br /> T6LSA�reementaaadethe Sth �pof January ,149g ,6yand6et�r�lheUni��of�r eaica,
<br />���,�: � ��'� Secietary of Ha�iag and U�ban D�,welopment(haeinafter called"HUD'� �. _ :r� _ '.
<br /> -=-,n-�.x_ _ � Beth ttage Housia Co . II . '�'' � ; ,.. ,a
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<br /> :s �;, . �and exiswig uadet and by virt�af the taws of :`"'."..•� --
<br />-*�� � ' ����N�bras�� � (her�inafter calIed th�"Ovmer"}�Pmvides as fottoa�x ` . . •
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<br /> - -_ , • ,�-`. V9here�,t&epwaeraadi;(TDt�aveent4aedintoaCapitalAdvsnceAgreementtoassistinfinanci�garemalhousingprojecttohaaseelderIp
<br />:�_�: . : . • _ p���p�s�swi�hd�h�itics,(peremafteaca]Ied`�pe�sons'�,inaccordancewitbSection202oftheHousIngActof1959orSection811
<br /> - ' of the Natioval AffordabYs Housmg Act.and tbe applicable regWaiions; - - —
<br /> _ - �'� . • •
<br />';'� ,�-�• .' : ' �ereas,���the Capital Advance Agceement das pmvided fundiag for�he Pro}ect identi�e6 as =
<br /> _ � , ..''..: .. Fmleccaum6er 103-�Q4-NP WDD ,financed with a Note and Mort�age(Aeed of Tn�st). . _
<br /> � '' �:
<br /> ,.. , .
<br /> -� . ' . � January S, 1995 � and coy�ing real property as descn'bed in Exhibit"A"attach;A hereto.w}�ch ostgage
<br /> - . . .
<br /> _. .._., .,.,T;......--.� u� onnt on
<br /> - - �
<br />_- ,�_ ,,,-,. . _....---was --recorded.-in---the---Recorder's�.__Qtfi�ce_._of--- —.
<br /> &sIasuame�t � - �—,BooY .PaBe � " --,-�------��-- -- �,__�
<br /> _--.--- � - - 'Whereas,'TheProjectissubjevitnaRegalatnryASre.emeat.dated_ Januar�,► 5, 1995 and ----- -
<br /> ,' . . - TOCOIQCAOD JTannarv 9� 1�Ari _. _. . ... _-
<br /> " � Ifl tbC RCMRdC�S��IttC Of R 7 � ��ZY� • ��
<br /> . , , � dacamea�t�mber ��_100366 ,BoNc .pese : � ' '� .
<br /> �ereas,pwsaaatwsection202ofd►eHousingActof 1959(elderly pmjects)orsectIon 811 ofthe Nadona]Affordable Housing Act(disabled
<br /> ' ' . . ' . p�je�s)andihewaesyoiMingiega]atioas.inexchaangeforHUD'sa�reementtopmvidecanitaladvancefinancingandprojectrents�!lassistance -
<br /> , payments,We pwaer bas ugFeedta contiaQe to opeaate the Projectonly as rental housing for ve:y-!aw income elderiy or disubled per�ons for • .
<br />� � not Ie�than 40 ye&rs f�om date of comnletion,�ur�uan_ to the -,unless otherwise appmved by HUD: x"
<br /> . ' Conatraction Cont�act :.t •�
<br />. ,�:�. ,.. . _ � - . . :���r� _ _..
<br />. .� ,. � NowT6erefore,inconside�ationofthemataalpromisessetfonhhereinandofothervaluableconsideration.thepartieshereby��eensfoltows: .. � n' �
<br /> .. , -.:.��
<br /> � • - � 1. QeTinitions.All temis osed in tiris Ageement have the same the event of default ander the Cupital Advanca Agrccmcm et�hc � � � � ��s� �.-�
<br /> `` � � � meaniag as setfarth in the de5nidons in 24 CFR Part889 or 890. Regulacary Agreemen� 'Ihe Owrter may ►�unsfer the Project . :. ., •;..-�"-�
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<br /> ��� �:,. :��- during the term of this Agreement only with the prlor wdtt�n " ���.��.f�r`�
<br />_ . , • 2. Term.Zbis tsdall ineffectfasn Llessthan�0 . �, , >
<br /> •� � • dA�e��com �o urauan� to approval of HUD.and any sach gruntce ahall ussumc thc obliga- � �` y`�.:��
<br />- , � y��,p� the Conatrugt�fon �Go�ntract .unless • �o�under this Agreementasa conditton of Fu►y vnnsfcr.In nny ..
<br /> . �:-a=!�=- �. ott�wise sp�os►ed by HUD , even�this Agreement shall be binding upon thC Ownet's succes- � � : T�
<br /> °� ... � .. � .. 3. UseResbrlctfoa.ThePmjectsha11bensedsote1yasrentalhousing sorsanda��s. -
<br />"�''_� - forvery-Iowincomee2derlyardisabledpeisnns. 5. Retease.TheendorsementbyadulyuuthorizedofCcerotHUD(t) ,. :��,
<br /> � , ' ,_ . _. ., ... ,
<br /> _ q, Transfes HUphagbeengrantedandlspossessedofaninterestin upon any conveyance or transfer made 6y the Owncr oi nny rcul , :��`
<br /> �� We abave descritsed piroject socb tha*.the Owner shall remain orpersonal propercy which is detecmined to bc eacess W tho rtceds '�: � � 4
<br /> �_.. . .. of the Pro'ec y . .
<br />� • . .' � � seized af the title to said property andrefrain from nansfearing. j � or (2) upor� any inswment of wnva Ance or . � . ��'',
<br /> cenveying,assigqing,leasiag,mortgaging,pledging,orothernise dedication of property,or any intcrest therein.for use as sttcets. �_. ,. � .. ,. -
<br /> �,-" encumberingorpermiuingorsafferinganytrnnsfer,conveyance. alleys,or other publtc rishtsof•way,or for the establishment. � • . �
<br /> _�. • , , ' ass}gament,lease,mortgage.pledgeototherencumbranceofsaid operation and maintenance of public utilitics.or(3)uyon nny � �: .
<br />-�"� � �� yroperiyoranypanthaeofwithonttheceleaseofsaidcovenanis inswment uansferring orconv�ying an intcrest thcrcin.al(4) - -
<br /> �j;;, : � �� � •� by HUD The Ownea has constimtied HUD as its suomey-in-fact upon any inswment of retease mudc by the Owncr of�hc Projcct � , .. �.
<br /> _ .� , tfluansfeaYhaproject WanotheryrivatEnonprofitcorporaBon in shall be effective w retease sucA property from the restrictive '
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<br /> '��:�.-:::,,:. . '. � �ormlfUD��otW�CAtIAa) � • . .
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