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After recording, return copy of recorded instrument to: <br />Chad Nabity <br />City Hall 100E I ST <br />Grand Island, NE 68801 <br />MEMORANDUM OF REDEVELOPMENT CONTRACT <br />aa� <br />This Memorandum of Redevelopment Contract ("Memorandum") is made this 15. <br />day <br />of , 2020 by and between the Community Redevelopment Authority of the City of <br />Grana Island ("Authority") and H.E.L.P. Foundation of Omaha, Inc., a Nebraska charitable <br />corporation ("Redeveloper"). <br />1. Redevelopment Contract. Authority and Redeveloper have entered into that <br />certain Redevelopment Contract dated as of May 20, 2020, describing undertaking by the <br />Redeveloper related to improvements currently located on and to be constructed on real property <br />owned by Redeveloper and legally described as: <br />A PARCEL OF LAND LOCATED IN THE SOUTHEAST QUARTER AND THE SOUTHWEST <br />QUARTER OF SECTION 5, TOWNSHIP 11 NORTH, RANGE 9 WEST OF THE SIXTH P.M., <br />HALL COUNTY, NEBRASKA, BEING DESCRIBED AS FOLLOWS: REFERRING TO THE <br />SOUTHEAST CORNER OF THE SOUTHEAST QUARTER OF SECTION 5; THENCE <br />N89°03'58"W (ASSUMED BEARING) ON THE SOUTH LINE OF SAID SOUTHEAST <br />QUARTER, A DISTANCE OF 796.00 FEET TO THE SOUTHWEST CORNER OF A PARCEL <br />OF LAND DESCRIBED AND RECORDED IN DEED BOOK 159, PAGE 133; THENCE <br />N00° 16'04"E ON THE WEST LINE OF SAID PARCEL, A DISTANCE OF 75.00 FEET TO THE <br />NORTH RIGHT OF WAY LINE OF CAPITAL AVENUE, AS DESCRIBED AND RECORDED <br />IN INSTRUMENT NO. 201306652; THENCE N89°03'59"W ON SAID NORTH RIGHT OF <br />WAY LINE, A DISTANCE OF 480.00 FEET TO THE POINT OF BEGINNING; THENCE <br />N00°16'04"E, PARALLEL WITH THE WEST LINE OF SAID PARCEL, A DISTANCE OF <br />1042.35 FEET TO THE SOUTHERLY RIGHT OF WAY LINE OF OLD NEBRASKA <br />HIGHWAY 2, AS DESCRIBED AND RECORDED IN MISC. RECORD U, PAGE 486; <br />THENCE N73°54'50"W ON SAID SOUTHERLY RIGHT OF WAY LINE, A DISTANCE OF <br />1622.53 FEET; THENCE S00°09'33"E, PARALLEL WITH THE WEST LINE OF SAID <br />SOUTHEAST QUARTER, A DISTANCE OF 1466.65 FEET TO SAID NORTH RIGHT OF <br />WAY LINE; THENCE S89°03'59"E ON SAID NORTH RIGHT OF WAY LINE, A DISTANCE <br />OF 1550.26 FEET TO THE POINT OF BEGINNING, CONTAINING 44.76 ACRES, MORE OR <br />LESS. <br />2. Redeveloper Obligations. The Redevelopment Contract provides for <br />maintenance standards for the real property and provides that a portion of the real property be <br />dedicated to affordable housing. A Redevelopment Contract Amendment has been executed. <br />74100618.2 <br />