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201007863
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Last modified
10/25/2010 3:46:43 PM
Creation date
10/25/2010 3:46:41 PM
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DEEDS
Inst Number
201007863
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zo � oo�s�3 <br />"LUR.A" means the Laxa,d Use Restriction Agreement Far Low-Income Housing Tax <br />Credits tn be entered into by the Authority and the Owner in which the OwnEr agrees tv mainta.in <br />the Proj�ct for occupants who meet the income requirements under Code Secti�n 42(g) ar�d to <br />maintain the Project as "rent-restricted" under Code Sectian 42(,�) for a c�rtain period of time sct <br />forth in the LURA, subject to ce�tain exceptians set forth therein. <br />"Minimum Set-Aside Test" means the set-aside test described in Section 42(g}(1) af the <br />Code selected by the Owner wh�reby at least 40°/a of the units in the Project must be occupied by <br />individuals with incomes less than or �qual to 5Q% of area median income, as adjusted for family <br />size, determined in accardance with Section 42(g)(1) of the Code. <br />"Mort�a�e Laa�(s)" means the loans listed on Exhibit B. <br />"Uwner" means IViosaic Residential Services of Nebraska, LLC and its successors and <br />assigns. <br />"Person" means any individual or Eniity, and the heirs, executors, adaninistratars, legal <br />representatives, successors and assigns of such Persan where th� context so admits; and, unless <br />the context otherwise requires, the singulaz shall include the plural, and the masculine gender <br />shall include the feminine and thc ncuter and vice versa. <br />"Placed In-Servi e te" means the date by which at least one unit in each building in <br />the Project must be ready aad available for occupancy in accordance with state and local laws, <br />which date shall be February 28, 2011. <br />"Plans and Spec,ifications" means the plans and specifications fnr the construction of the <br />Project, including, without limitation, specifications far materials, and a.11 amendments and <br />modificatians thereof. <br />"Pro ram Re uirements" m�ans any and all requirements for receiving and maintaining <br />a. Subaward of Section 1602 Program Funds as set forth in Sectian 1602 of lhe Rccovery Act, the <br />Guidelines, and any, other rules, regulations, guidelines or natices published by the IltS or <br />Tr�asury fram time to time with respect to the Section 1602 Program tliat are applicable to the <br />Project. <br />"Pro ert" means the 24 unit residential renta.l housing develvpment in 4 building(s), <br />including any relate�i facilities and structures to be constructed on the Land, and all oth�r real <br />and personal prop�rty that is used in connection with the d�velopment a.nd operation of the Land <br />located in Grand Tsland, Norfolk and Omaha, Nebraska. <br />",QAP" m�ans th� Auihority's 2010 LIHTC Qualified Allocation Pl�n, including any <br />amer�dments thereto. <br />"Recapture Event" shall mean any event set forth in Section 6_ 1 of this Agre�xnent. <br />�eca ture Deed of Trust" means the deed of trust granted by the Owner to the <br />Autharity to secure the obligation of the Owner to repay all ar a portion of the Subaward in <br />accardance with the terms af this A�reement. <br />-5- <br />4848-2332»1U94.2 <br />
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