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�0��06264 LAND USE RESTRICTION AGREEMENT FOR LOW INCOME HOUSING TAX CREDITS THIS LAND USE RESTRICTION AGREEMENT (this "Agreement") is entered into as of the date set forth on the Summary Page hereof among the NEBRASKA INVESTMENT FINANCE AUTHORITY (the "Authority"), a body politic and corporate, not a state agency, but an independent instnunentality exercising essential public functions under the constitution and laws of the State of Nebraska, the OWNER IDENTIFIED ON THE SUlVIMA1tY PAGE hereof (the "Owner'� and the Lender or Lenders identified on the Summary Page hereof (the "Lender"). WITNESSETH: WHEREAS, the Authority has been designated by the Governor of the State of Nebraska as the housing talc credit entity for the State of Nebraska for the allocation of low income housing tax credit dallars; and WHEREAS, the Owner is or shall be the owner of the rental housing development located and as described on the Summazy Page hereof and in Exhibit A hereto (the "Project"); and WHEREAS, the Owner has applied to the Authority for an allocation of low income housing tau credit dollars to the Project in an amount not to exceed the amount set forth on the Summary Page hereof; and WHEREAS, the Owner and the Project must cantinuonsly comply with Section 42 and other applicable sections of the Internal Revenue Code of 1986, as amended (the "Code"), and the Treasury Regulations promulgated thereunder (the "Regulations"}; and WHEREAS, compliance by the Owner and the Project with Section 42 of the Cod.e is in large part within the control of the Owner; and WHEREAS, the Owner has agreed to provide or cause to be provided certain supplementary suppartive services to Qualified Tenants as described herein (the "Supportive Services"); and WHEREAS, the Authority is unwilling to allocate low income housing ta.x credit dollars to the Project unless the Owner shall, by entering into this Agreement, consent to be regulated by the Authority in order that the Authority may enforce the occupancy restrictions and other covenants, terms and conditions of this Agreement in accordance with the Code and the Regulations; and WHEREAS, the Owner has represented to the Authority in the Owner's Low Income Housing Tax Credit Application (the "Application") that the Owner shall lease at least the Applicable Set-Aside Percentage of the Dwelling Units in the Praject to individuals or families whose income is the Applicable Income Percenta.ge or less of area. median gross incorne 4840-0052-9929.1