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EXHIBIT C <br /> <br />Evans Park Projects <br /> <br />The Evans Park Projects consist of the following, and the amount of Bond proceeds used for <br />Evans Park Projects shall not exceed $9,00,000; provided, however, that the aggregate <br />principal amount of the Bonds shall not exceed $14,000,000: <br /> <br /> 1. The refinancing of existing mortgage indebtedness issued with respect <br />to the acquisition, construction, equipping and furnishing of a 36-unit elderly housing <br />facility owned by Evans Park, Inc. and located at 300 Evans Avenue, Elk River, <br />Minnesota (the "Mortgage Indebtedness Refinancing"), together with the <br />rehabilitation of the fhcility; and <br /> <br /> 2. The financing of costs of acquisition, construction, equipping and <br />furnishing of an approximately 60-unit assisted living facility to be located at Joplin <br />Street and U.S. Highway 10, in Elk River, Minnesota and to be owned by Evans Park, <br />Inc. <br /> <br />C-1 <br /> <br /> <br />