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f 2) the segregation of: 81 '"° ~} ~ 1 .i 3 9 (i) An amount equal to the aggregate of all special funds required to he maintained by the project; (ii) All tenant security depostts held: (g) "Residua! Receipts" /limited disnzbutfon mengagnrJmeans any cash remaining at the end of a semiannual or annual fiscal period after deducting from surplus cash the amount of distributions as that term is defined below and as I~ttited by Paragraph 8 (e) hereof; (h) "Distribution" means any withdrawal or taking of cash ur any assets of the project, including the segregation of cash or assets for subsequent withdrawal within the limitations of Paragraph 8 (e) hereof, and excluding payment for reasonable expenses incident to the operation and maintenance of the project. (i) "Default" means a default declared by the Secretary when a violation of this Agreement is not corrected to the s~t~s- faction of the Secretary within the rme allowed by this Agreement or such further time as may be allowed by the Secretary after written noticr. (j) "Section 8 units" refers to units assisted .under Section 8 of the C!nimd States Housing Act of 1937 pursuant to a Housing Assistance Payments Contract. (k) "Housing Assistance Payments Contract" refers u, a written contract between the Owner and HUD, or the Owner and a Public Housing Agency, or the Owner and a Housing Finance Agency for the purpose of providing hausmg assistance payments to the Owner on behalf of eligible families under Section 8 of the United States Housing Act of 2937. (1} "Displaced persons or families" shall means a family or families, or a person, displaced from an urban renewal area. or as a result of government action, or as a result of a major disaster, as determined by the President pursuant to the Disaster Relief Act of 1970. {m} "Elderly persons" means any person, married or single, who is sixty-two years of age or over. 17. This insitnment shall bind, and the benefits shall insure to. the respective Owners, their heirs, legs! representatir• .xecutors, administrators, sucessors in office or interest, and rssigrs. and to the Secretan and successors of the Secretary so Tung as the contract of mortgage insurance continues in effect, and during such further time as the Secretary shelf be the owner, holder or reinsurer of the mortgage. or obligated to reinsure the mortgage. i8. Owners warrant that they have not, and wil! not, execute any other agreeaum with pruatsions convadictory to, or in opposition to, she provisions hereof, and that. in any ever.[, the regwtements ut this .4grcement are paramount and controIling as to the rights and obligations set forth and supersede any other reeu:rentents is conflict therewith. 19. The invalidity of any eicuse, part or provision of this Agreement shall not affect the validity of the remaining portions [here- of. 20. The following Owners: HOLIDAY GARDEN TOWtV-tDUSES IY, A NEBRASKA GENERAL PARTNERSHIP, LAWRENCE E. HtAYAtJ)T, WILLIAM M. MARSHALL III, TED ~AMSt~sl Ate K. C. KNWSt]N, PARTNERS. do not assume personal liability for payments due under the note and mwtgage, or for the payments to the reserve for re- placements, or far matters not under their control, provided that said Owners shall remain liable under this Agreement only with respect to the matters hereinafter stated namely: (al for funds or property of the project coming into their hands which. by the provisions hereof, they are nu! entitled to retain: and (b) for their own acts and deeds or acts and deeds of others which thc~ tlaYC 3n[IrUrlled m eloiation u( the provisions hereof. IN WITNESS WHEREOF, the parries hereto have set their hands and seals on the date first hereinabove written. tiill_IDAY GAR~N TOYft~l0USE5 II ;Or.-~rrersf Seat WITNESS - --- LAWRENCE E. HUWALDT, PARTNER SECRF i.4RF U[ HQtSIM1G :1 tvG li 1 [)EY6 LOPMENT~ artirrg by and thmur;h ih<• I'EJjt~:RAI H IN{; COM NISStONf.:R /' <, ",. r' thorn c xent)~~~. _.._._ tAJdprorx-r arkno»drJgemeorrs,~ f ~~ ~ 1, ~~ - NIJU-92168 le~%lf C _. •n ,