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<br /> . " RSPITAL PI30PERTY REHBBILITATI�fi? LISN �`�\G �;'�}�� I--
<br />. �`� \ `'c�eyF: '
<br /> The undersiga�ed property ovner, D & D invest�e�ets, a� partnership, ----=�L�'�:�-
<br /> (hezeafter, the HORF�oWER), iar consideration �� the r��eipt of ONE �Y' '���
<br /> ,. :;:..:.;_;.� ,
<br />' . HUNDR�D FORTY TWO mHOU31�ND F'�� HUNDRED AND �io,'100 Dollazs „ _�^�K� _ __
<br /> t$192,500.00) as a deferzed ��y�ent loan frmun tfise Ci rY OF G�Na
<br />� . ISLAND (hereafter, the LENDER) for t�ae rehabi�itati�n, preservation `�: ���
<br /> and enhancement of psimarily rental ��si8ential rea: gzoperty , � . -'',�;.+�`�:
<br /> containitag aineteen unita for rent m� lease to tena�i�s, �rhich is `!'�� �j���s�f� �_---°°
<br /> �~'� commo�►ly known as 311 East 3rd stzeet and legally described as s :u�T;''�.:- 4,:�t;�
<br /> . ��i,.... .:. �... .,._: . :�
<br /> East fart tour feet of Lot T��� (33, Blocic s�xty-Nfne (69) ''"'°� �'"""'�' • -` �• �
<br /> Y- �r�±r�!'t�.;�r`.. . .:,
<br /> . Oriqinal Town edr]ition to the �City of ciranrl island, Hall ,_ . :; __
<br /> � County, NebrasF�a. .� . . " ° � ;'�';
<br /> �r-• .�. 4�.
<br />_� QR(.' " :::e��'i�'Lt:'i�+�',�`;',�_.
<br /> � theteinaftex, the PRO38CT� ���al os equftable title to whicT� �s held �;;�;.��,��. �,_°.,
<br /> - by the BORRO�i�R, heret�y agree and consent to the czeacion ana � ,��` ' '-�
<br /> imposition of a lien an�on the PROJECT foz the benefi�t of the L�NDER„
<br /> .. syb�ect to the follo��ng terms an8 condltions: . °� �_
<br /> . � ;:,._
<br /> '�� 1) Such lien shall be in the full amovnt of �he deferred payment . �� '`�:�
<br /> loan given by the LENDER to the BORROWER. The restsictions of this }.�:a '.
<br /> lien shall apply to n�neteen (193 assisted units in the pro9ect �� y?�-:� ,:_--.
<br /> ::
<br /> �� 2) The BORROtiER aqreea that any 8efault on a supesios lien shall P�e ���.M;�� .._--�
<br /> � � a 8efault on this lien ancl s�all rendez the balance hereun8ea at or�ce _ __ .
<br /> due and payable. �.-
<br /> .��-_
<br /> : 31 The BORROWER agrers: to keep d�e313ng units in $Dc� PROJECT in ��4;:�''�"'���;
<br /> • goed condition an8 re�alx, fuliy ter�ad�e attd c�ot to remove or
<br /> � 8emolish any awelling unit thereon: t0 co�.����e or sestore promp�ly . --
<br /> . and in goad ana woskmanlike mannes �suy d�e1Ls�� unit which may be __ --
<br /> • �.1 conatructe8, da�aqed or destzoyed tir�aeon anal to pay when dne all � ,_��:;
<br /> . claims ¢ox labor perforaed and materials furnished to the PROJECT: to "��-;K� : -�.:,
<br /> compiy with all lavs affecting said PROJECT �a sequiring any ��—'
<br /> �--
<br />� � � alte=ations ox impxovementa �o be �ade there�n; not to com�fl� oY -----------s-��=
<br /> pesmit waste thereof; not to commit, suffer or permit any a� thezeon ___ a_ t�
<br /> in violatlon of la�. - -- , _
<br /> • . .1F�`!In,'i% -
<br /> !) The BORROFiER agreeas to provide, �aintain and deliver to �he ���t•,•�.-�.
<br /> . � LENDER evi�ence of fise an� extended covera�e i�nsurance satisfactory �c-�`-"��,�--.-
<br /> �'__---•t-:--�:-_"'S'
<br /> to the L$NDER in the ozder an8 amouat suffrnc3ent to permit repa�z or �,�:�`=;s�+°+'�"4�.', �`'`.`
<br /> seplacement pursuant to paragraph 3, above, of the balance :���:... .:�;�"
<br />�'�� outstanding of thls 1ien. '"`�'-�"��fr"•``�
<br /> ai� ''t'� ..,_�
<br /> `. 5) The HORROWER agrees to pay all. taxes, �s�essmenLs, uti3n�ies an8 - .� ,�;;::�:�'
<br /> . � othez expenses of the PROJECT wher� due anc� aa3$hout clelinqeae�czy an8 ��.___.
<br />, shall not permit any liens to be imposea on 2he PRm�LCT by reason of �;:�:C . 11�� —
<br /> any clellnquency. .�;� :-:...,�,;�,. ��.:
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