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<br />200605641 <br /> <br />After recordation, send to: <br />Veritas Title Partners, L.P. <br />2415 W. Alabama, #203 <br />Houston, Texas 77098 <br />Attn. Mr. Jim Vo <br /> <br />Holiday Garden Townhouses <br />Grand Island, Hall County, Nebraska <br />FHA Project No.1 03.35073 <br /> <br />USE AGREEMENT <br />FOR MUL TIF AMIL Y PROJECTS PARTICIPATING IN THE <br />MARK-TO-MARKET PROGRAM UNDER THE MUL TIFAMIL Y <br />ASSISTED HOUSING REFORM AND AFFORDABILITY ACT OF 1997 <br /> <br />THIS USE AGREEMENT (this "Agreement") is made, as of June 23. 2006, by and <br />between HOLIDAY GARDEN TOWNHOUSES, A LIMITED PARTNERSHIP, a Nebraska <br />limited partnership (the "Owner"), and SECRETARY OF HOUSING AND URBAN <br />DEVELOPMENT, WASHINGTON, D.C. (the "Secretary" or "HUD"). <br /> <br />RECIT ALS: <br /> <br />A. The Owner is the owner of all of that certain real property located in the City of Grand <br />Island, Hall County, Nebraska, as more particularly described in Exhibit A attached hereto and made <br />a part hereof (the "Real Property"), on which is constructed that certain rental apartment project <br />known as Holiday Garden Townhouses, FHA Project No. 103-35148 formerly known as FHA <br />Project No. 103-35073 (the "Project") and, together with the Real Property, the "Property"). <br /> <br />B. The Property is encumbered by that certain first lien mortgage loan (the "Loan") made to <br />the Owner, or a predecessor in interest, by Don 1. McMurray Co., a Nebraska corporation, or a <br />predecessor in interest, which Loan is evidenced and/or secured by that certain Mortgage Note dated <br />April I, 1980 in the original principal amount of Eight Hundred Seventy-Two Thousand Seven <br />Hundred and nol1 00 Dollars ($872,700.00), that certain Mortgage of even date therewith, that <br />certain Security Agreement and certain other instruments executed in connection with the Loan. <br /> <br />C. In connection with, as a condition to and in consideration for the Owner's participation in <br />the Mark-to-Market Program, as authorized by the "Multifamily Assisted Housing Reform and <br />Affordability Act of 1997," Title V of the Departments of Veterans Affairs, Housing and Urban <br />Development and Independent Agencies Appropriations Act, 1998 (Pub. L. No. 105-65, III STAT. <br />1384, approved 10/27/97), the Owner and the Secretary entered into that certain Restructuring <br />M2M Use Agmt 09-15-04 <br />