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<br />200509639
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<br />OMS Approval No. 2502-0470 (exp. 11/30/2006)
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<br />Capital Advance Program
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<br />Use Agreement
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<br />For Section 202 of the Housing Act of 1959 or
<br />Section 811 of the National Affordable Housing Act
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<br />U.S. Department of Housing
<br />and Urban Development
<br />Office of Housing
<br />Federal Housing Commissioner
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<br />Public reporting burden for this collection of information is estimated to average 1 hour per response, including the time for reviewing instructions, searching
<br />existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. Send comments regarding this
<br />burden estimate or any other aspect of this collection of information, including suggestions for reducing this burden, to the Reports Management Officer,
<br />Paperwork Reduction Project (2502-0470), Office of Information Technology, U.S. Department of Housing and Urban Development, Washington, D.C. 20410-
<br />3600. This agency may not collect this information, and you are not required to complete this form, unless it displays a currently valid OMS control number.
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<br />Do not send thIs form to the above address.
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<br />This information collection is necessary to ensure that viable projects are developed. It is important to obtain information from applicants to assist HUD in
<br />determining if nonprofit organizations initially funded continue to have the financial and administrative capacity needed to develop a project and that the project
<br />design meets the needs of the residents. The Department will use this information to determine if the projects meet statutory requirements, ensuring the
<br />continued marketability of the projects. This information is required in order to obtain benefits. This information is considered non-sensitive and no assurance
<br />of confidentiality is provided.
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<br />This Agreement made the _ 26t!:.__ day of Septerober ,20 ~, by and between the United States of America, Secretary
<br />of Housing and Urban Development (hereinafter called "HUD") and s.~tra~ Nebraska Goodwill Housing II. Inc. ____,
<br />a private nonprofit corporation, organized and existing under and by virtue of the laws of the State of Nebraska (hereinafter called the
<br />"Owner"), provides as follows;
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<br />Whereas, the Owner and HUD have entered into a Capital Advance Agreement to assist in financing a rental housing project to house elderly
<br />persons or persons with disabilities, (hereinafter called "persons"), in accordance with Section 202 of the Housing Act of 1959 or Section 811 of the
<br />National Affordable Housing Act, and the applicable regulations;
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<br />Whereas, HUD through the Capital Advance Agreement has provided funding for the Project identified as project number 103 ~HD03l-NP - CMI
<br />, financed with a Note and Mortgage (Deed of Trust), dated 09/26/2005 and covering real property as described in Exhibit "A" attached
<br />hereto, ~,hich Mort[age was recorded in the Recorder's Office of Hall County onSc~)-I{I1,b' ';)~I d.CC.S, as Instrument
<br />/~ (D )D'llf' {~ -, , Book , Page ;
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<br />.' / 6/2 S:fJl 'I' II ()h~CC6
<br />Whereas, The Project is subject to a Regulatory Agreement, dated _;-o~~ .005~ ,.and recorded on~~" .D npe.' , in the Recorder's
<br />Office of Hall County as document numberO?tt. ,J 0 7bd ~ Book ____ , Page ___ ;
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<br />Whereas, pursuant to section 202 of the Housing Act of 1959 (elderly projects) or section 811 of the National Affordable Housing Act (disabled
<br />projects) and the corresponding regulations, in exchange for HUD's agreement to provide capital advance financing and project rental assistance
<br />payments, the Owner has agreed to continue to operate the Project only as rental housing for very-low income elderly or disabled persons for not less
<br />than 40 years from Auqust 1. 2006 ,unless otherwise approved by HUD;
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<br />Now Therefore, in consideration of the mutual promises set forth herein and of other valuable consideration, the parties hereby agree as follows:
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<br />1. Definitions. All terms used in this Agreement have the same
<br />meaning as set forth in the definitions in 24 CFR Part 889 or 890.
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<br />2. Term. This Agreement shall remain in effect for not less than 40
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<br />years from Augus t 1 ( 2006 , unless
<br />otherwise approved by HUD.
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<br />3. Use Restriction. The Project shall be used solely as rental housing
<br />for very-low income elderly or disabled persons.
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<br />4. Transfer. HUD has been granted and is possessed of an interest in
<br />the above described Project such that the Owner shall remain seized
<br />of the title to said property and refrain from transferring, conveying,
<br />assigning, leasing, mortgaging, pledging, or otherwise encumbering
<br />or permitting or suffering any transfer, conveyance, assignment,
<br />lease, mortgage, pledge or other encumbrance of said property or
<br />any part thereof without the release of said covenants by HUD. The
<br />Owner has constituted HUD as its attorney-in-fact to transfer the
<br />project to another private nonprofit corporation in the event of default
<br />under the Capital Advance Agreement or the Regulatory Agreement.
<br />The Owner may transfer the Project during the term of this Agree-
<br />ment only with the prior written approval of HUD, and any such
<br />grantee shall assume the obligations under this Agreement as a
<br />condition of any transfer. In any event, this Agreement shall be
<br />binding upon the Owner's successors and assigns.
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<br />5. Release. The endorsement by a duly authorized officer of HUD (1)
<br />upon any conveyance or transfer made by the Owner of any real or
<br />personal property which is determined to be excess to the needs of
<br />the Project, or (2) upon any instrument of conveyance or dedication
<br />of property, or any interest therein, for use as streets, alleys, or other
<br />public rights-of-way, or for the establishment, operation and mainte-
<br />nance of public utilities, or (3) upon any instrument transferring or
<br />conveying an interest therein, or (4) upon any instrument of release
<br />made by the Owner of the Project shall be effective to release such
<br />property from the restrictive covenants hereby created.
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<br />6. Enforcement. In the event of a breach or threatened breach of any
<br />of the provisions of this Agreement, any eligible tenant or applicant
<br />for occupancy, or the Secretary or his or her successors or del-
<br />egates, may institute proper legal action to enforce performance of
<br />such provisions, to enjoin any acts in violation of such provisions, to
<br />recover whatever damages can be proven, and/or to obtain whatever
<br />other relief may be appropriate.
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<br />7. Severability. The invalidity, in whole or in part, of any of the
<br />provisions set forth above shall not affect or invalidate any remaining
<br />provisions.
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<br />Page 1 of 3
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<br />form HUD-90163-CA (06/2003)
<br />ref. Handbook 4571.4 & 4571.5
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